DEVGAN ANIRUDH 4

What Happened

• Anirudh Devgan, President, CEO and Director of Cadence Design Systems (CDNS), had performance-based restricted stock units (RSUs) vest on March 18, 2026. Two awards totaling 190,167 shares were reported as acquired (grant/award, code A) at $0.00 acquisition price. To satisfy tax withholding on the vesting event, 18,138 shares were surrendered/disposed (code F) at an effective per-share price of $289.64, totaling $5,253,490. Using the $289.64/share figure implies the vested RSUs had an approximate market value of $55.1M at vesting (approx.).

Key Details

• Transaction date: March 18, 2026; Form 4 filed March 20, 2026 (appears timely).
• Awards: 146,849 shares and 43,318 shares reported as granted/vested (total 190,167); acquisition price reported as $0.00 (standard for RSU vesting).
• Tax withholding/disposition: 18,138 shares withheld at $289.64/share = $5,253,490.
• Footnotes: awards are performance-based RSUs that met performance criteria; some awards vest in three equal annual installments (per filing); shares were withheld to satisfy tax obligations.
• Shares owned after transaction: not specified in the filing.

Context

• This was a vesting of performance RSUs (compensation), not an open-market sale or purchase. The withholding of 18,138 shares to cover taxes is a common administrative step and is reported as a disposition on the Form 4, but it does not necessarily indicate the insider sold shares on the market for other reasons.
• For retail investors: such vesting events reflect compensation realization and company performance triggers, but do not by themselves signal the insider's market sentiment.