Justin E. Dougherty - Mar 2, 2022 Form 4 Insider Report for CIRRUS LOGIC, INC. (CRUS)

Role
VP, Engineering Operation
Signature
By: Gregory Scott Thomas For: Justin E. Dougherty
Stock symbol
CRUS
Transactions as of
Mar 2, 2022
Transactions value $
$0
Form type
4
Date filed
3/3/2022, 05:31 PM
Previous filing
Nov 9, 2021
Next filing
May 19, 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 Incentive Stock Option (right to buy) Award $0 +1.1K $0.00 1.1K Mar 2, 2022 Common Stock 1.1K $88.00 Direct F1
transaction CRUS Non-Qualified Stock Option (right to buy) Award $0 +5.94K $0.00 5.94K Mar 2, 2022 Common Stock 5.94K $88.00 Direct F1
transaction CRUS Performance Shares Award $0 +2.44K $0.00 2.44K Mar 2, 2022 Common Stock 2.44K Direct F2
transaction CRUS Restricted Stock Units Award $0 +3.03K +14.87% $0.00 23.4K Mar 2, 2022 Common Stock 3.03K 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.