As previously disclosed, on July 26, 2021, Cadence Design Systems, Inc. filed a current report on Form 8-K to report that the Board of Directors appointed Anirudh Devgan, Ph.D., as President of the company, effective December 15, 2021 (the Transition Effective Date"), succeeding Lip-Bu Tan, who assumed the position of Executive Chairman of the Company as of the Transition Effective Date and who will continue to serve as director.