Scannell Paul 4

What Happened Paul Scannell, Senior Vice President at Cadence Design Systems (CDNS), was granted 13,943 restricted stock units (RSUs) on 2026-03-16 (reported as an award, code A). Following vesting, 1,610 shares were withheld on 2026-03-17 to satisfy tax obligations at a value of $293.75 per share (total ≈ $472,938). The RSU grant is an acquisition (no cash paid by the insider); the withheld shares are a routine tax-withholding disposition rather than an open-market sale.

Key Details

• Transaction types/codes: A = Award/Grant of RSUs (13,943 shares); F = Shares withheld for tax (1,610 shares disposed).
• Dates and prices: RSU grant dated 2026-03-16 (acquisition price $0); tax withholding on 2026-03-17 at $293.75/share (≈ $472,938).
• Shares owned after transaction: Not specified in the summary data here—see the full Form 4 for total beneficial ownership.
• Footnotes: F1 confirms these were RSUs; F2 confirms shares were withheld to satisfy tax obligations arising from vesting.
• Filing timeliness: Form filed 2026-03-18 for transactions on 2026-03-16–03-17 (appears timely).

Context Withheld shares to cover taxes are a common administrative step after RSU vesting and do not necessarily indicate the insider sold shares on the open market. Awards (RSUs) increase the insider’s equity stake on paper, while withholding reduces the net new shares delivered to the insider to cover tax liabilities.