CADENCE DESIGN SYSTEMS INC — Director's Dealing 2023

Feb 21, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CADENCE DESIGN SYSTEMS INC (CDNS)
CIK: 0000813672
Period of Report: 2023-02-16

Reporting Person: TAN LIP BU (Director, Executive Chair)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-16	Common Stock	M	42500	$30.79	Acquired	645089	Direct
2023-02-16	Common Stock	S	9072	$194.1695	Disposed	636017	Direct
2023-02-16	Common Stock	S	16601	$194.972	Disposed	619416	Direct
2023-02-16	Common Stock	S	13341	$195.8952	Disposed	606075	Direct
2023-02-16	Common Stock	S	3224	$197.1105	Disposed	602851	Direct
2023-02-16	Common Stock	S	262	$198.1073	Disposed	602589	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-02-16	Non- Qualified Stock Option (right to buy)	$30.79	M	42500	Disposed	2024-02-21	Common Stock (42500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	15000	Indirect
Common Stock	898040	Indirect
Common Stock	7000	Indirect
Common Stock	31400	Indirect

Footnotes

F1: The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 Trading Plan adopted by the Reporting Person.

F2: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $193.49 to $194.48, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F3: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $194.49 to $195.48, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F4: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $195.50 to $196.48, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F5: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $196.59 to $197.51, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F6: The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $198.05 to $198.14, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F7: Shares held by A&E Investment LLC, the sole member of which is the Lip-Bu Tan and Ysa Loo Trust dated 2/3/1992.

F8: Shares held by the Lip-Bu Tan and Ysa Loo Trust dated 2/3/1992.

F9: Shares held by L Tan & N Lee TTEE, Pacven Walden Inc. 401(K) PSPS, FBO Lip-Bu Tan.

F10: Shares held by IRA FBO Lip-Bu Tan DB Securities Inc. Custodian Rollover Account DTD 5/19/1997.

F11: These options vested at a rate of 1/48th per month starting on March 21, 2017.