DEVGAN ANIRUDH 4

What Happened

• Anirudh Devgan, President & CEO and Director of Cadence Design Systems (CDNS), was granted 40,562 restricted stock units (RSUs) on March 16, 2026. To satisfy tax obligations tied to vesting, a total of 78,093 shares were withheld/disposed across March 16–17, 2026 — these withholdings are recorded as disposals but reflect tax payments rather than open‑market sales.
• Withheld/share details: 64,684 shares at $292.72 on 2026-03-16 (≈ $18,934,300); 5,850 shares at $292.72 on 2026-03-16 (≈ $1,712,412); 7,559 shares at $293.75 on 2026-03-17 (≈ $2,220,456). Aggregate value of withheld shares ≈ $22.87 million.

Key Details

• Transaction dates & prices:
  • 2026-03-16: 64,684 shares @ $292.72 (F) — $18,934,300
  • 2026-03-16: 5,850 shares @ $292.72 (F) — $1,712,412
  • 2026-03-16: 40,562 RSUs granted @ $0.00 (A)
  • 2026-03-17: 7,559 shares @ $293.75 (F) — $2,220,456
• Total shares withheld/disposed for tax payment: 78,093; total value ≈ $22.87M. RSUs granted: 40,562.
• Shares owned after the transactions: not specified in the excerpt provided (filing notes include 70 shares acquired via ESPP on Jan 30, 2026).
• Notable footnotes:
  • F1/F3/F5 — shares withheld to satisfy tax obligations from vesting of Performance‑Based Restricted Stock Units, Performance‑Based Incentive Stock Awards, and Restricted Stock Units.
  • F4 — grant of Restricted Stock Units.
  • F2 — beneficial ownership includes 70 shares from the Employee Stock Purchase Plan.
• Filing timing: Report filed 2026-03-18 for transactions on 2026-03-16 and 03-17 — appears timely (Form 4 is generally due within two business days).

Context

• These transactions are primarily tax‑withholding related to vesting (code F) and a grant (code A). Withholding/disposal entries typically indicate shares were retained by the company or broker to cover taxes (a routine administrative step), not necessarily an insider signaling a decision to sell shares in the open market.
• For retail investors, the key takeaway is that Devgan received a meaningful RSU grant while corresponding shares were withheld to meet tax obligations; this is different from direct purchases or deliberate market sales.