Cadence (CDNS) CEO Anirudh Devgan Withholds 3,779 Shares for Taxes

What Happened

• Anirudh Devgan, President & CEO and a Director of Cadence Design Systems (CDNS), had 3,779 shares withheld on 2026-09-17 to satisfy tax obligations related to vested restricted stock units (RSUs). The shares are reported at $280.76 each, a total value of $1,060,992. This was a tax-withholding disposition of vested RSUs—not an open-market sale.

Key Details

• Transaction date: 2026-09-17; Filing date (Form 4): 2026-09-21 (timely filed within reporting window).
• Shares withheld/disposed: 3,779 shares at $280.76 each; total value reported $1,060,992.
• Footnote: F1 — shares were withheld to satisfy tax obligations arising from RSU vesting.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Type: Tax withholding on RSU vesting (reported as a disposition), not a voluntary market sell order.

Context

• Withholding shares to cover taxes is a common, administrative action when RSUs vest and typically does not indicate a change in the insider’s market view. It differs from an open-market sale because the company retains the withheld shares to satisfy tax obligations rather than the insider executing a market sale.