Andrew Brannan - Mar 2, 2022 Form 4 Insider Report for CIRRUS LOGIC, INC. (CRUS)

Role
VP, Worldwide Sales
Signature
By: Gregory Scott Thomas For: Andrew Brannan
Stock symbol
CRUS
Transactions as of
Mar 2, 2022
Transactions value $
$0
Form type
4
Date filed
3/3/2022, 05:12 PM
Previous filing
Dec 15, 2021
Next filing
Nov 8, 2022

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 Non-Qualified Stock Option (right to buy) Award $0 +6.6K $0.00 6.6K Mar 2, 2022 Common Stock 6.6K $88.00 Direct F1
transaction CRUS Performance Shares Award $0 +2.29K +44.55% $0.00 7.43K Mar 2, 2022 Common Stock 2.29K Direct F2
transaction CRUS Restricted Stock Units Award $0 +2.84K +40.52% $0.00 9.85K Mar 2, 2022 Common Stock 2.84K Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 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.
F3 Each restricted stock unit represents a contingent right to receive one share of Cirrus Logic common stock.
F4 100% of the restricted stock units will vest on 3/2/25, the 3-year anniversary of the grant date.