Andrew Brannan - 03 Feb 2023 Form 4 Insider Report for CIRRUS LOGIC, INC. (CRUS)

Role
VP, Worldwide Sales
Signature
By: Gregory Scott Thomas attorney-in-fact For: Andrew Brannan
Issuer symbol
CRUS
Transactions as of
03 Feb 2023
Net transactions value
-$137,667
Form type
4
Filing time
07 Feb 2023, 15:19:43 UTC
Previous filing
03 Feb 2023
Next filing
09 Feb 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 $159,638 +2,865 +35% $55.72 11,070 03 Feb 2023 Direct F1
transaction CRUS Common Stock Sale $277,905 -2,865 -26% $97.00 8,205 03 Feb 2023 Direct F1
transaction CRUS Common Stock Sale $19,400 -200 -2.4% $97.00 8,005 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 -2,865 -100% $0.000000* 0 03 Feb 2023 Common Stock 2,865 $55.72 Direct F2
transaction CRUS Non-Qualified Stock Option (right to buy) Award $0 +6,252 $0.000000 6,252 06 Feb 2023 Common Stock 6,252 $102.37 Direct F3
transaction CRUS Performance Shares Award $0 +1,935 +42% $0.000000 6,565 06 Feb 2023 Common Stock 1,935 Direct F4
transaction CRUS Restricted Stock Units Award $0 +2,687 +42% $0.000000 9,039 06 Feb 2023 Common Stock 2,687 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 February 16, 2022.
F2 Only vested shares can be exercised under this option. 25% of the shares vested on 11/1/18; the remaining shares vested monthly over the following 36 months so that the option was fully vested and exercisable on 11/1/21.
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.