Justin E. Dougherty - May 14, 2021 Form 3 Insider Report for CIRRUS LOGIC, INC. (CRUS)

Role
VP Eng'g Operations
Signature
By: Gregory Scott Thomas attorney-in-fact For: Justin E. Dougherty
Stock symbol
CRUS
Transactions as of
May 14, 2021
Transactions value $
$0
Form type
3
Date filed
5/21/2021, 07:07 PM
Next filing
Nov 9, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding CRUS Common Stock 4.04K May 14, 2021 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding CRUS Incentive Stock Option (right to buy) May 14, 2021 Common Stock 5.83K $68.56 Direct F1
holding CRUS Incentive Stock Option (right to buy) May 14, 2021 Common Stock 1.82K $78.00 Direct F2
holding CRUS Non-Qualified Stock Option (right to buy) May 14, 2021 Common Stock 4.07K $68.56 Direct F1
holding CRUS Non-Qualified Stock Option (right to buy) May 14, 2021 Common Stock 6.78K $78.00 Direct F2
holding CRUS Performance Shares May 14, 2021 Common Stock 2.64K $0.00 Direct F3
holding CRUS Performance Shares May 14, 2021 Common Stock 2.72K $0.00 Direct F4
holding CRUS Restricted Stock Units May 14, 2021 Common Stock 7.5K $0.00 Direct F5, F6
holding CRUS Restricted Stock Units May 14, 2021 Common Stock 13K $0.00 Direct F5, F6
holding CRUS Restricted Stock Units May 14, 2021 Common Stock 3.3K $0.00 Direct F5, F6
holding CRUS Restricted Stock Units May 14, 2021 Common Stock 4.08K $0.00 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The option vests on a 4-year schedule: 25% of the shares became exercisable on 11/6/2020; the remaining 75% of the shares vests at a rate of 1/36th per month over the next 36 months so that the option will be fully vested and exercisable on 11/6/2023.
F2 The option vests on a 4-year schedule: 25% of the shares become exercisable on 3/3/2022; the remaining 75% of the shares vests at a rate of 1/36th per month over the next 36 months so that the option will be fully vested and exercisable on 3/3/2025.
F3 Each Performance-based Restricted Stock Unit ("RSU's") 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 performance-based RSU's 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 November 6, 2019, and ending on November 6, 2022. The number of shares reported represents the target amount.
F4 Each Performance-based Restricted Stock Unit ("RSU's") 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 performance-based RSU's 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 March 3, 2021, and ending on March 3, 2024. The number of shares reported represents the target amount.
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 the 3-year anniversary of the grant date.