---
schema_version: "secwatch.filing_event.v1"
accession: "0000813672-23-000013"
form_type: "8-K"
ticker: "CDNS"
cik: "0000813672"
company_name: "CADENCE DESIGN SYSTEMS INC"
filed_at: "2023-02-13T23:59:59+00:00"
generated_at: "2026-06-19T17:00:36.048454+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Executive Chair Lip-Bu Tan not seeking re-election to Cadence board; stays through March 2024

## Summary
- Lip-Bu Tan notified the Board on Feb 8, 2023 he will not stand for re-election at the 2023 Annual Meeting.
- He will continue as a non-officer employee until March 31, 2024 under the Tan Transition Agreement.
- The Tan Transition Agreement was previously filed on Dec 17, 2021 as Exhibit 10.2 to Form 8-K/A.

## SEC filing metadata
- accession: 0000813672-23-000013
- form_type: 8-K
- ticker: CDNS
- cik: 0000813672
- company_name: CADENCE DESIGN SYSTEMS INC
- filed_at: 2023-02-13T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/813672/000081367223000013/0000813672-23-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/813672/000081367223000013/cdns-20230208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000813672-23-000013
- JSON: https://secwatch.observer/filing/0000813672-23-000013.json
- Plain text: https://secwatch.observer/filing/0000813672-23-000013.txt

## Key facts
- Executive change
  Lip-Bu Tan departed as Executive Chair at CADENCE DESIGN SYSTEMS INC.
  - Action: not seek re-election
  - Role: Executive Chair
  source text: On February 8, 2023, Lip-Bu Tan, the Executive Chair of the Board of Directors (the “Board”) of Cadence Design Systems, Inc. (the “Company”), notified the Board that he will not seek re-election to the Board at the Company’s 2023 Annual Meeting of Stockholders, when his current term as Executive Chair expires.
  evidence_url: https://www.sec.gov/Archives/edgar/data/813672/000081367223000013/0000813672-23-000013-index.htm

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