Form 4: Cadence Design Systems Inc. Executive Cunningham Reports Stock Disposal for Tax Obligations

Senior Vice President Paul Cunningham of Cadence Design Systems Inc. reports disposing of 2,133 shares of common stock to cover tax obligations arising from the vesting of a Performance Stock Award.

Summary

• Paul Cunningham, a Senior Vice President at Cadence Design Systems Inc., filed a Form 4 on September 18, 2024, reporting a transaction on September 16, 2024.
• The transaction involved the disposal of 2,133 shares of common stock at a price of $273.13 per share.
• These shares were withheld to satisfy tax obligations related to the vesting of a Performance Stock Award.
• Following the transaction, Cunningham beneficially owns 62,411 shares of Cadence Design Systems Inc.
• The filing was signed by Ahalya Hildreth, Attorney-in-Fact for Paul Cunningham.

Sentiment

Score: 5

Explanation: This is a neutral event. It's a standard transaction related to executive compensation and tax obligations, with no inherent positive or negative implications for the company's performance.

Industry Context

This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies. It provides transparency into insider transactions but doesn't necessarily indicate a change in the company's outlook.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes and does not indicate a change in the executive's confidence in the company.

Key Dates