DEVGAN ANIRUDH 4

What Happened

Anirudh Devgan, President & CEO and a director of Cadence Design Systems (CDNS), exercised 26,821 stock options at $78.76 per share (total cost about $2,112,422) and then sold shares in open-market transactions on June 1–2, 2026. He sold 51,822 shares on June 1 at $395.00 for $20,469,690 and 25,005 shares on June 2 at $415.00 for $10,377,075 — total proceeds of about $30,846,765. The Form 4 also reports a related derivative disposition of 26,821 shares at $0 (reported as part of the option exercise reporting).

Key Details

• Transaction dates and prices:
  • 2026-06-01: Exercised 26,821 options at $78.76 (acquired; ~$2,112,422).
  • 2026-06-01: Sold 51,822 shares at $395.00 (disposed; $20,469,690).
  • 2026-06-02: Sold 25,005 shares at $415.00 (disposed; $10,377,075).
  • 2026-06-01: Derivative disposition of 26,821 shares at $0 (reported alongside exercise).
• Total shares sold: 76,827; total sale proceeds: ~$30.85M.
• Shares owned after transaction: Not disclosed in the provided filing summary.
• Footnotes:
  • F1: Sales were effected pursuant to a Rule 10b5-1 trading plan adopted 9/6/2024 and amended 8/6/2025.
  • F2: The options vested at a rate of 1/48th per month.
• Filing timeliness: Filing dated 2026-06-03 for trades on 2026-06-01 and 2026-06-02 — consistent with standard Form 4 reporting timing (not identified as late in the provided data).

Context

• The filing shows an options exercise followed by open-market sales — when exercised shares are sold soon after, it functions like a cashless exercise (executive converts options to shares and then sells some or all of those shares).
• The presence of a Rule 10b5-1 plan (F1) indicates these sales were made under a pre-established trading plan rather than ad hoc trades. This is common for executives who want a structured selling program.
• These transactions are routine insider activity and factual disclosures of ownership changes; they do not, by themselves, indicate future company performance.