Lip Bu Tan - 17 Jan 2023 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
17 Jan 2023
Net transactions value
-$6,060,452
Form type
4
Filing time
19 Jan 2023, 18:14:18 UTC
Previous filing
12 Jan 2023
Next filing
01 Feb 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CDNS Common Stock Gift $0 -11,000 -1.1% $0.000000 945,936 22 Dec 2022 Held by Trust 2 F1, F2
transaction CDNS Common Stock Gift $0 -18,056 -1.9% $0.000000 927,880 23 Dec 2022 Held by Trust 2 F1, F2
transaction CDNS Common Stock Options Exercise $1,308,575 +42,500 +7.1% $30.79 645,089 17 Jan 2023 Direct F3
transaction CDNS Common Stock Sale $187,740 -1,101 -0.17% $170.52 643,988 17 Jan 2023 Direct F3, F4
transaction CDNS Common Stock Sale $224,600 -1,310 -0.2% $171.45 642,678 17 Jan 2023 Direct F3, F5
transaction CDNS Common Stock Sale $1,811,476 -10,479 -1.6% $172.87 632,199 17 Jan 2023 Direct F3, F6
transaction CDNS Common Stock Sale $4,505,550 -25,939 -4.1% $173.70 606,260 17 Jan 2023 Direct F3, F7
transaction CDNS Common Stock Sale $639,660 -3,671 -0.61% $174.25 602,589 17 Jan 2023 Direct F3, F8
holding CDNS Common Stock 15,000 17 Jan 2023 Held by Trust 1 F9
holding CDNS Common Stock 7,000 17 Jan 2023 Held by Trust 3 F10
holding CDNS Common Stock 31,400 17 Jan 2023 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 -42,500 -10% $0.000000 382,500 17 Jan 2023 Common Stock 42,500 $30.79 Direct F12
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares transferred as a charitable gift from the Lip-Bu Tan and Ysa Loo Trust dated 2/3/1992, of which the Reporting Person and the Reporting Person's spouse are trustees.
F2 Shares held by the Lip-Bu Tan and Ysa Loo Trust dated 2/3/1992.
F3 The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 Trading Plan adopted by the Reporting Person.
F4 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $170.11 to $171.09, 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.
F5 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $171.11 to $172.10, 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 $172.11 to $173.10, 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 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $173.11 to $174.10, 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.
F8 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $174.11 to $174.46, 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.
F9 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.
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 21, 2017.