Scannell Paul 4

What Happened

Paul Scannell, Senior Vice President at Cadence Design Systems (CDNS), exercised 7,081 stock options at $285.19 per share (total cost $2,019,430) and sold the resulting 7,081 shares in an open-market transaction at $393.91 per share (total proceeds $2,789,277) on June 1, 2026. The filings show the options were converted/exercised and the shares were immediately sold — a cashless exercise followed by a sale. Net difference before fees and taxes is roughly $769,847.

Key Details

• Transaction date: 2026-06-01 (Form 4 filed 2026-06-03; appears timely).
• Exercise: 7,081 shares at $285.19 each = $2,019,430 (code M, acquired).
• Sale: 7,081 shares at $393.91 each = $2,789,277 (open-market sale, code S).
• Form also shows a derivative disposition of 7,081 units at $0 (code M), indicating conversion/settlement of the option instrument.
• Footnotes: Transaction executed under a Rule 10b5-1 trading plan adopted 9/9/2025 (F1). Option vests at 1/48th per month (F2).
• Shares owned after the transaction: Not disclosed in this Form 4.

Context

• This was an exercise-and-sell (cashless) transaction rather than an outright purchase; such sales are often routine liquidity events for executives.
• The trade was executed under a pre-established 10b5-1 plan, which typically schedules trades in advance and can limit the inference about insider timing.
• The 1/48 vesting note indicates these options were part of a standard multi-year grant schedule.