John Forsyth - Feb 8, 2024 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 8, 2024
Transactions value $
$0
Form type
4
Date filed
2/9/2024, 05:53 PM
Previous filing
Dec 15, 2023
Next filing
Mar 5, 2024

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 +1.07K $0.00 1.07K Feb 8, 2024 Common Stock 1.07K $93.24 Direct F1
transaction CRUS Non-Qualified Stock Option (right to buy) Award $0 +57.6K $0.00 57.6K Feb 8, 2024 Common Stock 57.6K $93.24 Direct F1
transaction CRUS Performance Shares Award $0 +16.5K +44.46% $0.00 53.6K Feb 8, 2024 Common Stock 16.5K Direct F2
transaction CRUS Restricted Stock Units Award $0 +25K +49.67% $0.00 75.4K Feb 8, 2024 Common Stock 25K 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 02/08/28.
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 8, 2024, and ending on February 8, 2027.
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 2/8/27, the 3-year anniversary of the grant date.