---
schema_version: "secwatch.filing_event.v1"
accession: "0000813672-22-000003"
form_type: "8-K"
ticker: "CDNS"
cik: "0000813672"
company_name: "CADENCE DESIGN SYSTEMS INC"
filed_at: "2022-01-20T23:59:59+00:00"
generated_at: "2026-06-27T17:01:51.812597+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000813672-22-000003
- form_type: 8-K
- ticker: CDNS
- cik: 0000813672
- company_name: CADENCE DESIGN SYSTEMS INC
- filed_at: 2022-01-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/813672/000081367222000003/0000813672-22-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/813672/000081367222000003/cdns-20220113.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000813672-22-000003
- JSON: https://secwatch.observer/filing/0000813672-22-000003.json
- Plain text: https://secwatch.observer/filing/0000813672-22-000003.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.