Justin E. Dougherty - 06 Feb 2023 Form 4 Insider Report for CIRRUS LOGIC, INC. (CRUS)

Role: SVP, Global Operations
Signature: By: Gregory Scott Thomas attorney-in-fact For: Justin Dougherty
Issuer symbol: CRUS
Transactions as of: 06 Feb 2023
Net transactions value: -$1,129,395
Form type: 4
Filing time: 08 Feb 2023, 17:07:12 UTC
Previous filing: 08 Nov 2022
Next filing: 09 Feb 2024
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	$551,428	+8,043	+46%	$68.56	25,493	07 Feb 2023	Direct
transaction	CRUS	Common Stock	Sale	$832,450	-8,043	-32%	$103.50	17,450	07 Feb 2023	Direct
transaction	CRUS	Common Stock	Sale	$848,373	-8,170	-47%	$103.84	9,280	07 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	Incentive Stock Option (right to buy)	Award	$0	+1,573		$0.000000	1,573	06 Feb 2023	Common Stock	1,573	$102.37	Direct	F2
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	F2
transaction	CRUS	Performance Shares	Award	$0	+2,169	+42%	$0.000000	7,330	06 Feb 2023	Common Stock	2,169		Direct	F3
transaction	CRUS	Restricted Stock Units	Award	$0	+3,012	+42%	$0.000000	10,120	06 Feb 2023	Common Stock	3,012		Direct	F4, F5
transaction	CRUS	Incentive Stock Option (right to buy)	Options Exercise	$0	-4,638	-80%	$0.000000	1,194	07 Feb 2023	Common Stock	4,638	$68.56	Direct	F6
transaction	CRUS	Non-Qualified Stock Option (right to buy)	Options Exercise	$0	-3,405	-84%	$0.000000	663	07 Feb 2023	Common Stock	3,405	$68.56	Direct	F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in Table I - Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $103.92 to $103.83. The reporting person will provide full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to any security holder of Cirrus Logic, Inc. or the staff of the SEC upon request.
F2	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.
F3	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.
F4	Each restricted stock unit represents a contingent right to receive one share of Cirrus Logic common stock.
F5	100% of the restricted stock units will vest on 2/6/26, the 3-year anniversary of the grant date.
F6	Only vested shares can be exercised under this option. 25% of the shares vested on 11/6/20; the remaining shares will vest monthly over the following 36 months so that the option will be fully vested and exercisable on 11/6/23.