secwatch.observer — SEC 8-K summary
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Issuer:     CADENCE DESIGN SYSTEMS INC (CDNS)
CIK:        0000813672
Form:       8-K
Filed at:   2022-01-20T23:59:59+00:00
Accession:  0000813672-22-000003
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/813672/000081367222000003/0000813672-22-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/813672/000081367222000003/cdns-20220113.htm
  HTML page:      https://secwatch.observer/filing/0000813672-22-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer