FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * LUCAS DONALD L   2. Issuer Name and Ticker or Trading Symbol CADENCE DESIGN SYSTEMS INC [CDNS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 2655 SEELY AVENUE, BLDG. 5 3. Date of Earliest Transaction (Month/Day/Year) 08/27/2007 (Street) SAN JOSE, CA 95134 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 08/27/2007   M   25,000 A $ 14.8692 30,000 I By trust Common Stock 08/27/2007   S   688 D $ 21.3049 29,312 I By trust Common Stock 08/27/2007   S   6 D $ 21.305 29,306 I By trust Common Stock 08/27/2007   S   206 D $ 21.3053 29,100 I By trust Common Stock 08/27/2007   S   700 D $ 21.3054 28,400 I By trust Common Stock 08/27/2007   S   515 D $ 21.3059 27,885 I By trust Common Stock 08/27/2007   S   100 D $ 21.3065 27,785 I By trust Common Stock 08/27/2007   S   600 D $ 21.3066 27,185 I By trust Common Stock 08/27/2007   S   600 D $ 21.3073 26,585 I By trust Common Stock 08/27/2007   S   600 D $ 21.3081 25,985 I By trust Common Stock 08/27/2007   S   300 D $ 21.3086 25,685 I By trust Common Stock 08/27/2007   S   300 D $ 21.3087 25,385 I By trust Common Stock 08/27/2007   S   300 D $ 21.3088 25,085 I By trust Common Stock 08/27/2007   S   600 D $ 21.309 24,485 I By trust Common Stock 08/27/2007   S   885 D $ 21.3092 23,600 I By trust Common Stock 08/27/2007   S   800 D $ 21.3095 22,800 I By trust Common Stock 08/27/2007   S   100 D $ 21.3097 22,700 I By trust Common Stock 08/27/2007   S   900 D $ 21.31 21,800 I By trust Common Stock 08/27/2007   S   300 D $ 21.3105 21,500 I By trust Common Stock 08/27/2007   S   1,078 D $ 21.312 20,422 I By trust Common Stock 08/27/2007   S   385 D $ 21.313 20,037 I By trust Common Stock 08/27/2007   S   300 D $ 21.3134 19,737 I By trust Common Stock 08/27/2007   S   300 D $ 21.3137 19,437 I By trust Common Stock 08/27/2007   S   700 D $ 21.314 18,737 I By trust Common Stock 08/27/2007   S   661 D $ 21.3148 18,076 I By trust Common Stock 08/27/2007   S   717 D $ 21.315 17,359 I By trust Common Stock 08/27/2007   S   100 D $ 21.3168 17,259 I By trust Common Stock 08/27/2007   S   22 D $ 21.3169 17,237 I By trust Common Stock 08/27/2007   S   1,800 D $ 21.317 15,437 I By trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Non-Qualified stock option (right to buy)

$ 14.8692

08/27/2007

M

25,000

(1)

04/01/2014

Common Stock

25,000

$ 0

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
LUCAS DONALD L 2655 SEELY AVENUE, BLDG. 5 SAN JOSE, CA 95134	X

Signatures

James J. Cowie, Attorney-in-Fact for Donald L. Lucas		08/28/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Option was granted on April 1, 2004 and is fully vested.

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