Scannell Paul 4

What Happened

• Paul Scannell, Senior Vice President at Cadence Design Systems (CDNS), had two grants of performance-based restricted stock units (RSUs) vest on 2026-03-18: 8,962 and 7,364 shares (total 16,326 shares) acquired at $0.00. To satisfy tax withholding on the vesting, 4,492 shares were withheld/disposed at $289.64 per share, generating approximately $1,301,063.

Key Details

• Transaction date(s): 2026-03-18 (vesting/award and tax withholding); Form 4 filed 2026-03-20 (timely).
• Prices and values: Awards recorded at $0.00 (A = award); 4,492 shares withheld/disposed at $289.64 = $1,301,063 (F = tax withholding).
• Shares owned after transaction: Not specified in this filing.
• Relevant footnotes:
  • F1: Performance-based RSUs that met performance criteria.
  • F2: Performance RSUs that met criteria and vest in three equal annual installments (subject to continued service).
  • F3: Shares withheld to satisfy tax obligations arising from vesting.
• Transaction codes: A = Award/Grant; F = Tax withholding (share disposition to cover taxes).
• Filing timeliness: Reported on 2026-03-20 for a 2026-03-18 transaction—appears timely.

Context

• This was not an open-market sale for investment reasons but the routine vesting of performance-based RSUs with a portion of shares withheld to cover tax obligations (a sell-to-cover/withholding action). Such withholdings are common and do not necessarily indicate a change in insider sentiment.