Scott Thomas - Feb 3, 2023 Form 4 Insider Report for CIRRUS LOGIC, INC. (CRUS)

Role
Sr VP, General Counsel
Signature
Gregory Scott Thomas
Stock symbol
CRUS
Transactions as of
Feb 3, 2023
Transactions value $
-$172,620
Form type
4
Date filed
2/7/2023, 03:14 PM
Previous filing
Nov 8, 2022
Next filing
Mar 31, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CRUS Common Stock Options Exercise $77.1K +2.47K +10.71% $31.25 25.5K Feb 3, 2023 Direct F1
transaction CRUS Common Stock Sale -$250K -2.47K -9.68% $101.25 23K Feb 3, 2023 Direct F1

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) Options Exercise $0 -2.47K -100% $0.00* 0 Feb 3, 2023 Common Stock 2.47K $31.25 Direct F2
transaction CRUS Incentive Stock Option (right to buy) Award $0 +1.57K $0.00 1.57K Feb 6, 2023 Common Stock 1.57K $102.37 Direct F3
transaction CRUS Non-Qualified Stock Option (right to buy) Award $0 +5.44K $0.00 5.44K Feb 6, 2023 Common Stock 5.44K $102.37 Direct F3
transaction CRUS Performance Shares Award $0 +2.17K +44.46% $0.00 7.05K Feb 6, 2023 Common Stock 2.17K Direct F4
transaction CRUS Restricted Stock Units Award $0 +3.01K +45.06% $0.00 9.7K Feb 6, 2023 Common Stock 3.01K Direct F5, F6
* 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 adopted by the reporting person on August 10, 2022.
F2 Only vested shares can be exercised under this option. 25% of the shares vested on 11/4/16; the remaining shares vested monthly over the following 36 months so that the option was fully vested and exercisable on 11/4/19.
F3 Only vested shares can be exercised under this option. 25% of the shares will vest annually so that the option will be fully vested and exercisable on 2/6/27.
F4 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 February 6, 2023, and ending on February 6, 2026.
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 2/6/26, the 3-year anniversary of the grant date.