Form 4: Cadence Design Systems Director Mark Adams Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Director Mark Adams reports a transfer of shares to the Adams Family Trust and acquisition of restricted stock in Cadence Design Systems.
Summary
- On May 2, 2024, Mark Adams, a director of Cadence Design Systems Inc., reported changes in his beneficial ownership of the company's stock.
- Adams transferred 1,073 shares of common stock to the Adams Family Trust dated October 27, 2000.
- He also acquired 868 shares of restricted stock, which will fully vest on the earlier of May 2, 2025, or the date of the next Annual Meeting of Stockholders following the grant date.
- Following these transactions, Adams directly owns 868 shares and indirectly owns 12,080 shares through the Adams Family Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing changes in stock ownership, which carries a neutral sentiment.
Industry Context
This filing is a routine disclosure related to changes in beneficial ownership by a company insider, which is a common occurrence in publicly traded companies.
Stakeholder Impact
- The transfer of shares to a family trust and the granting of restricted stock are unlikely to have a significant impact on stakeholders.
Key Dates
| Date | Description |
|---|---|
| 10/27/2000 | Date of the Adams Family Trust |
| 05/02/2024 | Date of the stock transfer and restricted stock award |
| 05/02/2025 | First possible vesting date of the restricted stock award |
| 05/06/2024 | Date of signature by Attorney-in-Fact |
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