Denise Grode - Apr 6, 2022 Form 4 Insider Report for CIRRUS LOGIC, INC. (CRUS)

Signature
By: Gregory Scott Thomas For: Denise Grode
Stock symbol
CRUS
Transactions as of
Apr 6, 2022
Transactions value $
$0
Form type
4
Date filed
4/8/2022, 09:24 PM
Next filing
Apr 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 Incentive Stock Option (right to buy) Award $0 +5.05K $0.00 5.05K Apr 6, 2022 Common Stock 5.05K $79.16 Direct F1
transaction CRUS Non-Qualified Stock Option (right to buy) Award $0 +14.6K $0.00 14.6K Apr 6, 2022 Common Stock 14.6K $79.16 Direct F1
transaction CRUS Performance Shares Award $0 +2.57K $0.00 2.57K Apr 6, 2022 Common Stock 2.57K Direct F2
transaction CRUS Restricted Stock Units Award $0 +8.84K $0.00 8.84K Apr 6, 2022 Common Stock 8.84K 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 4/6/23; the remaining shares will vest monthly over the following 36 months so that the option will be fully vested and exercisable on 4/6/26.
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 April 6, 2022, and ending on April 6, 2025.
F3 Each restricted stock unit represents a contingent right to receive one share of Cirrus Logic common stock.
F4 One-third of the shares will vest annually from the date of grant over a three-year period.