Cunningham Paul 4

What Happened
Paul Cunningham, Senior Vice President at Cadence Design Systems (CDNS), was granted 13,386 restricted stock units (RSUs) on 2026-03-16 and, on the same date, had 20,787 shares withheld to satisfy tax obligations tied to vesting/awards. The withheld shares were recorded as dispositions: 16,598 shares at $292.72 ($4,858,567), 1,827 shares at $292.72 ($534,799), and 2,362 shares at $293.75 ($693,838). The total value of the withheld shares is roughly $6.09 million. This action reflects an award vesting and routine tax-withholding, not an open-market sale driven by a discretionary decision to sell.

Key Details

• Transaction date: 2026-03-16; Form 4 filed 2026-03-18 (timely filing).
• Dispositions (tax-withheld): 16,598 @ $292.72 = $4,858,567; 1,827 @ $292.72 = $534,799; 2,362 @ $293.75 = $693,838. Total withheld = 20,787 shares (~$6.09M).
• Acquisition (grant): 13,386 RSUs @ $0 (grant/award).
• Shares owned after transaction: Not disclosed in the provided filing.
• Footnotes: Withholdings were to satisfy tax obligations from vesting of Performance-Based Restricted Stock Units, Performance-Based Incentive Stock Awards, and Restricted Stock Units; the grant is a Restricted Stock Unit award. Transaction code F = tax withholding; A = award/grant.

Context
This filing shows an RSU grant combined with shares withheld to cover taxes — a common, administrative disposition that reduces the net new shares the executive receives. Such withholdings are recorded as dispositions on Form 4 but do not necessarily indicate selling for investment reasons. No 10b5-1 plan, gift, or open-market sale is indicated in the filing.