Form 4: Cadence Design Systems Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Paul Scannell, a Senior Vice President at Cadence Design Systems, sold shares to satisfy tax obligations arising from the vesting of a performance stock award.
Summary
- Paul Scannell, a Senior Vice President at Cadence Design Systems, filed a Form 4 indicating a change in beneficial ownership.
- On May 6, 2025, Scannell disposed of 1,239 shares of common stock to cover tax obligations related to the vesting of a performance stock award.
- The shares were sold at a price of $305.78 per share.
- Following the transaction, Scannell directly owns 27,203 shares of Cadence Design Systems stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transaction is related to tax obligations and doesn't necessarily reflect a positive or negative outlook on the company.
Industry Context
Form 4 filings are a routine part of insider trading activity and are used to ensure transparency in the market. This transaction is related to tax obligations and is not necessarily indicative of the executive's sentiment towards the company's future performance.
Key Dates
| Date | Description |
|---|---|
| 05/06/2025 | Date of transaction: Paul Scannell disposed of shares to cover tax obligations. |
| 05/08/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Cadence Design Systems, CDNS, Paul Scannell, Tax Obligations, Performance Stock Award, Securities Transaction
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