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CIRRUS LOGIC, INC. — Director's Dealing 2024
Feb 9, 2024
30880_dirs_2024-02-09_7557ad91-6c66-4e53-b182-3b378c8328e5.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: 2024-02-07
Reporting Person: Brannan Andrew (VP, Worldwide Sales)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2024-02-07 | Common Stock | S | 500 | $90.01 | Disposed | 6055 | Direct |
| 2024-02-07 | Common Stock | M | 3000 | $41.49 | Acquired | 9055 | Direct |
| 2024-02-07 | Common Stock | S | 3000 | $92 | Disposed | 6055 | Direct |
| 2024-02-08 | Common Stock | M | 3250 | $41.49 | Acquired | 9305 | Direct |
| 2024-02-08 | Common Stock | S | 3250 | $94 | Disposed | 6055 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2024-02-07 | Non-Qualified Stock Option (right to buy) | $41.49 | M | 3000 | Disposed | 2028-11-07 | Common Stock (3000) | Direct |
| 2024-02-08 | Non-Qualified Stock Option (right to buy) | $41.49 | M | 3250 | Disposed | 2028-11-07 | Common Stock (3250) | Direct |
| 2024-02-08 | Non-Qualified Stock Option (right to buy) | $93.24 | A | 7548 | Acquired | 2034-02-08 | Common Stock (7548) | Direct |
| 2024-02-08 | Performance Shares | $ | A | 2121 | Acquired | Common Stock (2121) | Direct | |
| 2024-02-08 | Restricted Stock Units | $ | A | 3218 | Acquired | Common Stock (3218) | Direct |
Footnotes
F1: This transaction was made pursuant to a Rule 10b5-1 plan adopted by the reporting person on May 26, 2023.
F2: Only vested shares can be exercised under this option. 25% of the shares vested on 11/7/19; the remaining shares vested monthly over the following 36 months so that the option were fully vested and exercisable on 11/7/22.
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 02/08/28.
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 8, 2024, and ending on February 8, 2027.
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 2/8/27, the 3-year anniversary of the grant date.