Taxay Marc 4

What Happened

• Marc Taxay, Senior Vice President and General Counsel of Cadence Design Systems (CDNS), was granted a total of 6,433 performance-based restricted stock units on 2026-03-18. The grant breaks down as 973 RSUs (price $0.00) and 5,460 RSUs (price $0.00). These are awards (Form 4 code A), not open-market purchases or sales.

Key Details

• Transaction date: 2026-03-18; filing date: 2026-03-20.
• Grants: 973 RSUs @ $0.00 and 5,460 RSUs @ $0.00 (total 6,433 RSUs).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Footnotes:
  • F1: 973 RSUs are performance-based and vest on the first anniversary of the grant date, subject to continued service.
  • F2: 5,460 RSUs are performance-based and vest in three equal annual installments on the first, second and third anniversaries of the grant date, subject to continued service.
• Timeliness: Filing was submitted two days after the report date (filed 2026-03-20 for 2026-03-18); the filing does not indicate lateness.

Context

• These awards are compensation-based RSUs that convert into shares only if performance conditions are met and the executive remains employed through vesting dates. Such grants are routine executive compensation and differ from open-market buying or selling, so they do not by themselves signal an immediate market view.