Cadence CEO Sells 70 Billion Won in Company Shares, Retains 100 Billion Won Stake

Cadence Design Systems (CDNS), a U.S. semiconductor design software company, disclosed that CEO Anirudh Devgan and Senior Vice President Chin-Chi Teng exercised stock options on May 22 and in early June, then sold portions of their holdings.

On May 22, SVP Chin-Chi Teng exercised options to acquire company shares and immediately sold some, raising approximately $1.7 million (about KRW 26 billion). He continues to maintain a significant direct stake.

CEO Anirudh Devgan exercised options and sold shares in two tranches—on May 22 and June 1–2—netting in the mid-$40 million range (around KRW 70 billion). After these transactions, he still holds over 250,000 shares—equivalent to roughly KRW 100 billion in equity. All sales were conducted under pre-arranged Rule 10b5-1 trading plans.

Recently, Cadence announced a partnership with Intel Foundry to optimize the Intel 14A process for high-performance computing and mobile chips. In its first-quarter 2026 earnings, the company reported robust growth in its EDA and IP businesses, driven by expanding AI demand.

Cadence is also championing AI-driven design-automation solutions, expanding its agent-based AI platform—capable of automating the entire chip-design workflow—through collaborations with Google Cloud, NVIDIA and others.

Headquartered in San Jose, California, Cadence Design Systems provides core electronic design automation (EDA) tools and intellectual property (IP) to semiconductor and systems companies worldwide for developing high-performance and AI-enabled chips. Leveraging AI-based agents and simulation platforms, Cadence is focused on shortening chip development cycles and automating complex processes, capturing rising demand for design automation amid the AI boom.