WALL JOHN M 4

What Happened
John M. Wall, Cadence's Senior Vice President & CFO, sold a total of 5,000 Cadence (CDNS) shares in open‑market transactions on May 5, 2026 for aggregate proceeds of $1,743,565. The individual reported sales were:

• 412 shares at a weighted average price of $346.68 — $142,832
• 1,021 shares at $347.75 — $355,053
• 1,907 shares at $348.68 — $664,933
• 1,280 shares at $349.41 — $447,245
• 380 shares at $351.32 — $133,502
  These were coded as sales (S) on the Form 4. Sales are generally considered routine liquidity/diversification moves rather than a bullish signal.

Key Details

• Transaction date: May 5, 2026; Form 4 filed May 7, 2026 (filed within the two‑business‑day window typical for Form 4s).
• Execution: Open market sales pursuant to a Rule 10b5‑1 trading plan adopted by Mr. Wall on May 6, 2025 (footnote F1).
• Reported prices are weighted averages; footnotes give price ranges for each block:
  • 412 shares: $346.16–$347.11 (F2)
  • 1,021 shares: $347.175–$348.16 (F3)
  • 1,907 shares: $348.18–$349.13 (F4)
  • 1,280 shares: $349.21–$349.70 (F5)
  • 380 shares: $350.955–$351.42 (F6)
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Transaction code: S = Sale.

Context
These sales were executed under a prearranged Rule 10b5‑1 plan, which typically indicates trades were scheduled in advance and not based on contemporaneous insider knowledge. For retail investors, purchases typically convey stronger direct insider confidence than routine sales; this filing documents a multi-lot, planned sale by a senior executive.