Form 4: Cadence Design Systems Director Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Director Alberto Sangiovanni-Vincentelli sold shares of Cadence Design Systems Inc. under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On May 15, 2024, Alberto Sangiovanni-Vincentelli, a director of Cadence Design Systems Inc., sold shares of common stock.
- The sales were executed under a Rule 10b5-1 trading plan adopted on September 13, 2023.
- Two transactions occurred: 452 shares were sold at a weighted average price of $286.04, and 1,048 shares were sold at a weighted average price of $287.61.
- Following these transactions, Sangiovanni-Vincentelli directly owns 49,551 shares of Cadence Design Systems Inc.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
Sales by insiders are a common occurrence and are often pre-planned to avoid accusations of trading on inside information. The use of a 10b5-1 trading plan provides a legal framework for insiders to sell shares at predetermined times and prices.
Stakeholder Impact
- The sale of shares by a director could have a minor impact on shareholder sentiment, but the existence of a 10b5-1 trading plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 09/13/2023 | Date the Rule 10b5-1 Trading Plan was adopted. |
| 05/15/2024 | Date of the reported transactions (share sales). |
| 05/17/2024 | Date of the Form 4 filing. |
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