Gregory Scott Thomas - 03 Feb 2023 Form 4 Insider Report for CIRRUS LOGIC, INC. (CRUS)

Role
Sr VP, General Counsel
Signature
Gregory Scott Thomas
Issuer symbol
CRUS
Transactions as of
03 Feb 2023
Net transactions value
-$172,620
Form type
4
Filing time
07 Feb 2023, 15:14:30 UTC
Previous filing
08 Nov 2022
Next filing
31 Mar 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CRUS Common Stock Options Exercise $77,062 +2,466 +11% $31.25 25,486 03 Feb 2023 Direct F1
transaction CRUS Common Stock Sale $249,682 -2,466 -9.7% $101.25 23,020 03 Feb 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 -2,466 -100% $0.000000* 0 03 Feb 2023 Common Stock 2,466 $31.25 Direct F2
transaction CRUS Incentive Stock Option (right to buy) Award $0 +1,573 $0.000000 1,573 06 Feb 2023 Common Stock 1,573 $102.37 Direct F3
transaction CRUS Non-Qualified Stock Option (right to buy) Award $0 +5,436 $0.000000 5,436 06 Feb 2023 Common Stock 5,436 $102.37 Direct F3
transaction CRUS Performance Shares Award $0 +2,169 +44% $0.000000 7,047 06 Feb 2023 Common Stock 2,169 Direct F4
transaction CRUS Restricted Stock Units Award $0 +3,012 +45% $0.000000 9,696 06 Feb 2023 Common Stock 3,012 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.