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CIRRUS LOGIC, INC. — Director's Dealing 2023
Feb 7, 2023
30880_dirs_2023-02-07_b308ce94-8d0f-477b-a302-a6254a637618.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: CIRRUS LOGIC, INC. (CRUS)
CIK: 0000772406
Period of Report: 2023-02-03
Reporting Person: THOMAS SCOTT (Sr VP, General Counsel)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2023-02-03 | Common Stock | M | 2466 | $31.25 | Acquired | 25486 | Direct |
| 2023-02-03 | Common Stock | S | 2466 | $101.25 | Disposed | 23020 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2023-02-03 | Non-Qualified Stock Option (right to buy) | $31.25 | M | 2466 | Disposed | 2025-11-04 | Common Stock (2466.0) | Direct |
| 2023-02-06 | Incentive Stock Option (right to buy) | $102.37 | A | 1573 | Acquired | 2033-02-06 | Common Stock (1573.0) | Direct |
| 2023-02-06 | Non-Qualified Stock Option (right to buy) | $102.37 | A | 5436 | Acquired | 2033-02-06 | Common Stock (5436.0) | Direct |
| 2023-02-06 | Performance Shares | $ | A | 2169 | Acquired | Common Stock (2169.0) | Direct | |
| 2023-02-06 | Restricted Stock Units | $ | A | 3012 | Acquired | Common Stock (3012.0) | Direct |
Footnotes
F1: This transaction was made pursuant to a Rule 10b5-1 adopted by the reporting person on August 10, 2022.
F2: Only vested shares can be exercised under this option. 25% of the shares vested on 11/4/16; the remaining shares vested monthly over the following 36 months so that the option was fully vested and exercisable on 11/4/19.
F3: Only vested shares can be exercised under this option. 25% of the shares will vest annually so that the option will be fully vested and exercisable on 2/6/27.
F4: Each Performance-based Restricted Stock Unit (PBRSU) represents the right to receive, following vesting, up to 200% of one share of Cirrus Logic, Inc. common stock. The resulting number of shares of common stock acquired upon vesting of the PBRSUs is contingent upon the achievement of pre-established performance metrics, as approved by the Company's Compensation Committee, over a three-year performance period beginning on February 6, 2023, and ending on February 6, 2026.
F5: Each restricted stock unit represents a contingent right to receive one share of Cirrus Logic common stock.
F6: 100% of the restricted stock units will vest on 2/6/26, the 3-year anniversary of the grant date.