Lip Bu Tan - Feb 16, 2023 Form 4 Insider Report for CADENCE DESIGN SYSTEMS INC (CDNS)

Signature
Ahalya Hildreth, Attorney-in-Fact for Lip-Bu Tan
Stock symbol
CDNS
Transactions as of
Feb 16, 2023
Transactions value $
-$6,990,487
Form type
4
Date filed
2/21/2023, 04:19 PM
Previous filing
Feb 2, 2023
Next filing
Mar 2, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CDNS Common Stock Options Exercise $1.31M +42.5K +7.05% $30.79 645K Feb 16, 2023 Direct F1
transaction CDNS Common Stock Sale -$1.76M -9.07K -1.41% $194.17 636K Feb 16, 2023 Direct F1, F2
transaction CDNS Common Stock Sale -$3.24M -16.6K -2.61% $194.97 619K Feb 16, 2023 Direct F1, F3
transaction CDNS Common Stock Sale -$2.61M -13.3K -2.15% $195.90 606K Feb 16, 2023 Direct F1, F4
transaction CDNS Common Stock Sale -$635K -3.22K -0.53% $197.11 603K Feb 16, 2023 Direct F1, F5
transaction CDNS Common Stock Sale -$51.9K -262 -0.04% $198.11 603K Feb 16, 2023 Direct F1, F6
holding CDNS Common Stock 15K Feb 16, 2023 Held by Trust 1 F7
holding CDNS Common Stock 898K Feb 16, 2023 Held by Trust 2 F8
holding CDNS Common Stock 7K Feb 16, 2023 Held by Trust 3 F9
holding CDNS Common Stock 31.4K Feb 16, 2023 Held by IRA F10

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 -42.5K -11.11% $0.00 340K Feb 16, 2023 Common Stock 42.5K $30.79 Direct F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 Trading Plan adopted by the Reporting Person.
F2 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $193.49 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.
F3 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $194.49 to $195.48, 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.
F4 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $195.50 to $196.48, 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.
F5 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $196.59 to $197.51, 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 $198.05 to $198.14, 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 Shares held by the Lip-Bu Tan and Ysa Loo Trust dated 2/3/1992.
F9 Shares held by L Tan & N Lee TTEE, Pacven Walden Inc. 401(K) PSPS, FBO Lip-Bu Tan.
F10 Shares held by IRA FBO Lip-Bu Tan DB Securities Inc. Custodian Rollover Account DTD 5/19/1997.
F11 These options vested at a rate of 1/48th per month starting on March 21, 2017.

Remarks:

Exhibit List - Exhibit 24 - Power of Attorney