Allan Hughes - Feb 6, 2023 Form 4 Insider Report for CIRRUS LOGIC, INC. (CRUS)

Role
VP, Cirrus Logic Internat
Signature
By: Gregory Scott Thomas attorney-in-fact For: Allan Hughes
Stock symbol
CRUS
Transactions as of
Feb 6, 2023
Transactions value $
$0
Form type
4
Date filed
2/8/2023, 05:05 PM
Previous filing
Nov 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 Non-Qualified Stock Option (right to buy) Award $0 +5.3K $0.00 5.3K Feb 6, 2023 Common Stock 5.3K $102.37 Direct F1
transaction CRUS Performance Shares Award $0 +1.64K +37.29% $0.00 6.05K Feb 6, 2023 Common Stock 1.64K Direct F2
transaction CRUS Restricted Stock Units Award $0 +2.28K +37.69% $0.00 8.33K Feb 6, 2023 Common Stock 2.28K 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 annually so that the option will be fully vested and exercisable on 2/6/27.
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 February 6, 2023, and ending on February 6, 2026.
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 2/6/26, the 3-year anniversary of the grant date.