Form 4: Cadence Design Systems Director Sells Shares Under 10b5-1 Trading Plan

Director Alberto Sangiovanni-Vincentelli of Cadence Design Systems sold a portion of his holdings under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On March 14, 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: 514 shares were sold at a weighted average price of $308.1475, and 986 shares were sold at a weighted average price of $309.6841.
• Following these transactions, Sangiovanni-Vincentelli directly owns 51,683 shares of Cadence Design Systems Inc.
• The reporting person will provide full information regarding the number of shares sold at each separate price within the specified ranges upon request.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a routine sale under a pre-arranged trading plan and doesn't necessarily reflect a change in the director's confidence in the company.

Industry Context

Sales by insiders are a common occurrence and are often pre-planned, especially when executed under a 10b5-1 trading plan. The market typically views these sales in the context of the overall health and prospects of the company and the individual's personal financial planning.

Stakeholder Impact

• The sale of shares by a director could have a minor psychological impact on shareholders, but the existence of a 10b5-1 plan mitigates concerns.

Key Dates