Cadence grants CEO Anirudh Devgan 409,208 RSUs worth $20.5M under 2022 LTP Awards

CADENCE DESIGN SYSTEMS INC

CEO Anirudh Devgan awarded 409,208 RSUs with grant date fair value of $20,534,057.
Award is 100% performance-based over a five-year period ending March 15, 2027.
Vesting thresholds: absolute stock price targets of $245 (threshold) and $359 (maximum).
Relative TSR hurdle requires performance at or above the 35th percentile of S&P 400/500 IT indices.
Mandatory holding period applies one year after vesting, subject to exceptions.

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