Scott Thomas - Feb 14, 2024 Form 4 Insider Report for CIRRUS LOGIC, INC. (CRUS)

Signature
Gregory Scott Thomas
Stock symbol
CRUS
Transactions as of
Feb 14, 2024
Transactions value $
-$353,010
Form type
4
Date filed
2/16/2024, 04:13 PM
Previous filing
Feb 9, 2024
Next filing
Mar 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CRUS Common Stock Options Exercise $103K +5.04K +24.54% $20.37 25.6K Feb 14, 2024 Direct F1
transaction CRUS Common Stock Sale -$456K -5.04K -19.7% $90.37 20.6K Feb 14, 2024 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) Options Exercise $0 -5.04K -100% $0.00* 0 Feb 14, 2024 Common Stock 5.04K $20.37 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 This transaction was made pursuant to a Rule 10b5-1 plan adopted by the reporting person on November 15, 2023.
F2 Only vested shares can be exercised under this option. 25% of the shares vested and became exercisable on 10/1/15; the remaining shares vested monthly over the following 36 months so that the option was fully vested and exercisable on 10/1/18. The options were set to expire in October 2024.