John M. Wall - Aug 8, 2023 Form 4 Insider Report for CADENCE DESIGN SYSTEMS INC (CDNS)

Role
Sr. VP & CFO
Signature
Stephanie Wells, Attorney-in-Fact for John Wall
Stock symbol
CDNS
Transactions as of
Aug 8, 2023
Transactions value $
-$8,681,405
Form type
4
Date filed
8/10/2023, 07:01 PM
Previous filing
Jun 20, 2023
Next filing
Aug 29, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CDNS Common Stock Options Exercise $2.57M +32.6K +30.74% $78.76 139K Aug 8, 2023 Direct F1
transaction CDNS Common Stock Sale -$5.73M -25.1K -18.09% $228.63 114K Aug 8, 2023 Direct F1, F2
transaction CDNS Common Stock Sale -$5.05M -22K -19.38% $229.50 91.6K Aug 8, 2023 Direct F1, F3
transaction CDNS Common Stock Sale -$465K -2.02K -2.21% $230.38 89.6K Aug 8, 2023 Direct F1, F4

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 -32.6K -84.46% $0.00 6K Aug 8, 2023 Common Stock 32.6K $78.76 Direct F5
* 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 2/21/2023 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 $228.10 to $229.08, 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 $229.09 to $230.04, 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 $230.11 to $230.61, 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 These options vested at a rate of 1/48th per month starting on March 14, 2020.