Lip Bu Tan - 14 Apr 2023 Form 4 Insider Report for CADENCE DESIGN SYSTEMS INC (CDNS)

Role
Director, Executive Chair
Signature
Ahalya Hildreth, Attorney-in-Fact for Lip-Bu Tan
Issuer symbol
CDNS
Transactions as of
14 Apr 2023
Net transactions value
-$7,811,157
Form type
4
Filing time
18 Apr 2023, 18:04:50 UTC
Previous filing
04 Apr 2023
Next filing
02 May 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CDNS Common Stock Options Exercise $1,308,575 +42,500 +7.1% $30.79 645,089 14 Apr 2023 Direct F1
transaction CDNS Common Stock Sale $1,455,031 -6,816 -1.1% $213.47 638,273 14 Apr 2023 Direct F1, F2
transaction CDNS Common Stock Sale $5,112,109 -23,840 -3.7% $214.43 614,433 14 Apr 2023 Direct F1, F3
transaction CDNS Common Stock Sale $2,055,235 -9,544 -1.6% $215.34 604,889 14 Apr 2023 Direct F1, F4
transaction CDNS Common Stock Sale $497,358 -2,300 -0.38% $216.24 602,589 14 Apr 2023 Direct F1, F5
holding CDNS Common Stock 15,000 14 Apr 2023 Held by Trust 1 F6
holding CDNS Common Stock 838,040 14 Apr 2023 Held by Trust 2 F7
holding CDNS Common Stock 7,000 14 Apr 2023 Held by Trust 3 F8
holding CDNS Common Stock 31,400 14 Apr 2023 Held by IRA F9

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 -14% $0.000000 255,000 14 Apr 2023 Common Stock 42,500 $30.79 Direct F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 Trading Plan adopted on 11/30/2022 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 $212.93 to $213.92, 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 $213.93 to $214.92, 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 $214.94 to $215.92, 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 $215.96 to $216.73, 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 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.
F7 Shares held by the Lip-Bu Tan and Ysa Loo Trust dated 2/3/1992.
F8 Shares held by L Tan & N Lee TTEE, Pacven Walden Inc. 401(K) PSPS, FBO Lip-Bu Tan.
F9 Shares held by IRA FBO Lip-Bu Tan DB Securities Inc. Custodian Rollover Account DTD 5/19/1997.
F10 These options vested at a rate of 1/48th per month starting on March 21, 2017.