STOCK-BASED COMPENSATION

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

Stock-based compensation expense is reflected in Cadence’s condensed consolidated income statements for the three and six months ended June 30, 2024 and June 30, 2023 as follows:

	Three Months Ended				Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
	(In thousands)
Cost of product and maintenance	$	1,352	$	1,035	$	2,632	$	2,101
Cost of services	1,721		1,317		3,350		2,674
Marketing and sales	16,000		15,686		33,836		30,777
Research and development	54,491		44,807		108,128		89,129
General and administrative	14,005		13,763		27,752		26,215
Total stock-based compensation expense	$	87,569	$	76,608	$	175,698	$	150,896

Cadence had total unrecognized compensation expense related to stock option and restricted stock grants of $495.4 million as of June 30, 2024, which is expected to be recognized over a weighted average vesting period of 1.8 years.