Jeffrey W. Baumgartner - Mar 1, 2022 Form 4 Insider Report for CIRRUS LOGIC, INC. (CRUS)

Role
VP, R&D
Signature
By: Gregory Scott Thomas For: Jeffrey W. Baumgartner
Stock symbol
CRUS
Transactions as of
Mar 1, 2022
Transactions value $
-$468,699
Form type
4
Date filed
3/3/2022, 05:10 PM
Previous filing
Jan 5, 2022
Next filing
Nov 8, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CRUS Common Stock Options Exercise $343K +5K +162.18% $68.56 8.08K Mar 1, 2022 Direct F1
transaction CRUS Common Stock Sale -$430K -5K -61.86% $85.93 3.08K Mar 1, 2022 Direct F1, F2
transaction CRUS Common Stock Options Exercise $90K +2.17K +70.32% $41.49 5.25K Mar 1, 2022 Direct F1
transaction CRUS Common Stock Sale -$186K -2.17K -41.29% $85.92 3.08K Mar 1, 2022 Direct F1, F3
transaction CRUS Common Stock Options Exercise $267K +6.43K +208.4% $41.49 9.51K Mar 1, 2022 Direct F1
transaction CRUS Common Stock Sale -$552K -6.43K -67.57% $85.92 3.08K Mar 1, 2022 Direct F1, F3

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
transaction CRUS Incentive Stock Option (right to buy) Options Exercise $0 -6.43K -88.88% $0.00 804 Mar 1, 2022 Common Stock 6.43K $41.49 Direct F1, F4
transaction CRUS Incentive Stock Option (right to buy) Award $0 +1.07K $0.00 1.07K Mar 2, 2022 Common Stock 1.07K $88.00 Direct F5
transaction CRUS Non-Qualified Stock Option (right to buy) Options Exercise $0 -2.17K -41.13% $0.00 3.1K Mar 1, 2022 Common Stock 2.17K $41.49 Direct F1, F4
transaction CRUS Non-Qualified Stock Option (right to buy) Options Exercise $0 -5K -47.43% $0.00 5.54K Mar 1, 2022 Common Stock 5K $68.56 Direct F1, F6
transaction CRUS Non-Qualified Stock Option (right to buy) Award $0 +6.41K $0.00 6.41K Mar 2, 2022 Common Stock 6.41K $88.00 Direct F5
transaction CRUS Performance Shares Award $0 +2.6K +41.74% $0.00 8.82K Mar 2, 2022 Common Stock 2.6K Direct F7
transaction CRUS Restricted Stock Units Award $0 +3.22K +37.75% $0.00 11.7K Mar 2, 2022 Common Stock 3.22K Direct F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction was made pursuant to a Rule 10b5-1 Plan adopted by the reporting person on August 31, 2021.
F2 The price reported in Table I - Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $85.13 to $86.64. The reporting person will provide full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to any security holder of Cirrus Logic, Inc. or the staff of the SEC upon request.
F3 The price reported in Table I - Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $85.18 to $86.64. The reporting person will provide full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to any security holder of Cirrus Logic, Inc. or the staff of the SEC upon request.
F4 Only vested shares can be exercised under this option. 25% of the shares vested on 11/07/19; the remaining shares will vest monthly over the following 36 months so that the option will be fully vested and exercisable on 11/07/22.
F5 Only vested shares can be exercised under this option. 25% of the shares will vest on 3/2/23; the remaining shares will vest monthly over the following 36 months so that the option will be fully vested and exercisable on 3/2/26.
F6 Only vested shares can be exercised under this option. 25% of the shares vested on 11/06/20; the remaining shares will vest monthly over the following 36 months so that the option will be fully vested and exercisable on 11/06/23.
F7 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 March 2, 2022, and ending on March 2, 2025.
F8 Each restricted stock unit represents a contingent right to receive one share of Cirrus Logic common stock.
F9 100% of the restricted stock units will vest on 3/2/25, the 3-year anniversary of the grant date.