Form 4: Cadence Design Systems Inc. Executive Paul Scannell Reports Stock Transaction
SEC Form 4 Filing
Senior Vice President Paul Scannell of Cadence Design Systems Inc. reports the disposal of 123 common stock shares to cover tax obligations.
Summary
- On October 15, 2024, Paul Scannell, a Senior Vice President at Cadence Design Systems Inc., disposed of 123 shares of common stock.
- The transaction was executed to satisfy tax obligations arising from the vesting of a Restricted Stock Award.
- The shares were disposed of at a price of $269.47 per share.
- Following the transaction, Scannell directly owns 17,649 shares of Cadence Design Systems Inc. common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing an insider transaction for tax purposes, indicating a neutral sentiment.
Industry Context
This is a routine Form 4 filing, indicating an insider transaction related to tax obligations from vested stock awards, which is a common occurrence in publicly traded companies.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 10/15/2024 | Date of stock transaction (disposal of shares). |
| 10/17/2024 | Date of signature by Attorney-in-Fact. |
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