Lip Bu Tan - 15 Aug 2022 Form 4 Insider Report for CADENCE DESIGN SYSTEMS INC (CDNS)

Signature
Stephanie Wells, Attorney-in-Fact for Lip-Bu Tan
Issuer symbol
CDNS
Transactions as of
15 Aug 2022
Net transactions value
-$9,442,842
Form type
4
Filing time
17 Aug 2022, 21:15:18 UTC
Previous filing
25 Jul 2022
Next filing
23 Aug 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CDNS Common Stock Tax liability $801,903 -4,153 -0.68% $193.09 608,023 15 Aug 2022 Direct F1
transaction CDNS Common Stock Options Exercise $980,000 +50,000 +8.2% $19.60 658,023 15 Aug 2022 Direct F2
transaction CDNS Common Stock Sale $3,607,559 -18,818 -2.9% $191.71 639,205 16 Aug 2022 Direct F2, F3
transaction CDNS Common Stock Sale $4,685,802 -24,324 -3.8% $192.64 614,881 16 Aug 2022 Direct F2, F4
transaction CDNS Common Stock Sale $1,210,963 -6,258 -1% $193.51 608,623 16 Aug 2022 Direct F2, F5
transaction CDNS Common Stock Sale $116,615 -600 -0.1% $194.36 608,023 16 Aug 2022 Direct F2, F6
holding CDNS Common Stock 15,000 15 Aug 2022 Held by Trust 1 F7
holding CDNS Common Stock 1,154,346 15 Aug 2022 Held by Trust 2 F8, F9
holding CDNS Common Stock 7,000 15 Aug 2022 Held by Trust 3 F10
holding CDNS Common Stock 31,400 15 Aug 2022 Held by IRA F11

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CDNS Non- Qualified Stock Option (right to buy) Options Exercise $0 -50,000 -33% $0.000000 100,000 16 Aug 2022 Common Stock 50,000 $19.60 Direct F12
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares withheld to satisfy tax obligations arising out of vesting of PSA.
F2 The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 Trading Plan adopted by the Reporting Person.
F3 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $191.14 to $192.13, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $192.14 to $193.13, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $193.15 to $194.09, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F6 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $194.25 to $194.48, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F7 Shares held by A&E Investment LLC, the sole member of which is the Lip-Bu Tan and Ysa Loo Trust dated 2/3/1992.
F8 Amount of securities held by trust includes 78 shares acquired by the Reporting Person through the Employee Stock Purchase Plan on July 29, 2022.
F9 Shares held by the Lip-Bu Tan and Ysa Loo Trust dated 2/3/1992.
F10 Shares held by L Tan & N Lee TTEE, Pacven Walden Inc. 401(K) PSPS, FBO Lip-Bu Tan.
F11 Shares held by IRA FBO Lip-Bu Tan DB Securities Inc. Custodian Rollover Account DTD 5/19/1997.
F12 These options vested at a rate of 1/48th per month starting on March 8, 2016.