Form 4: Cadence Design Systems: Officer Paul Scannell Reports Stock Transaction

Paul Scannell, a Senior Vice President at Cadence Design Systems, reported the disposal of 535 shares of common stock to cover tax obligations arising from the vesting of a restricted stock award on August 15, 2024.

Summary

• On August 15, 2024, Paul Scannell, a Senior Vice President of Cadence Design Systems, executed a transaction involving the company's common stock.
• Specifically, 535 shares were disposed of at a price of $280.12 per share.
• This transaction was conducted to satisfy tax obligations related to the vesting of a Restricted Stock Award.
• Following the reported transaction, Scannell directly owns 17,953 shares of Cadence Design Systems common stock.

Sentiment

Score: 5

Explanation: The document is a neutral report of an insider transaction, specifically the disposal of shares to cover tax obligations. It doesn't inherently indicate positive or negative sentiment.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, providing transparency to the market regarding the actions of company executives. It is a standard practice for officers to sell shares to cover tax obligations when restricted stock awards vest.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates