On March 11, 2024, Cadence Design Systems, Inc. filed a preliminary proxy statement soliciting proxies and urged the shareholders to vote against a shareholder proposal, requesting that the Board adopt a policy to seek shareholder approval of senior managers? new or renewed pay package that provides for golden parachute payments with an estimated value exceeding 2.99 times the sum of the executive?s base salary plus target short-term bonus. This proposal only applies to Named Executive Officers, submitted by John R. Chevedden at the Company?s annual shareholders meeting scheduled to be held on May 2, 2024.