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

Role
CEO, Director
Signature
By: Gregory Scott Thomas attorney-in-fact For: John Forsyth
Stock symbol
CRUS
Transactions as of
Feb 6, 2023
Transactions value $
$0
Form type
4
Date filed
2/8/2023, 05:06 PM
Previous filing
Nov 8, 2022
Next filing
Nov 16, 2023

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 +976 $0.00 976 Feb 6, 2023 Common Stock 976 $102.37 Direct F1
transaction CRUS Non-Qualified Stock Option (right to buy) Award $0 +48.3K $0.00 48.3K Feb 6, 2023 Common Stock 48.3K $102.37 Direct F1
transaction CRUS Performance Shares Award $0 +15.2K +69.72% $0.00 37.1K Feb 6, 2023 Common Stock 15.2K Direct F2
transaction CRUS Restricted Stock Units Award $0 +21.2K +44.06% $0.00 69.2K Feb 6, 2023 Common Stock 21.2K 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.