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

Signature
Gregory Scott Thomas
Issuer symbol
CRUS
Transactions as of
14 Feb 2024
Net transactions value
-$353,010
Form type
4
Filing time
16 Feb 2024, 16:13:53 UTC
Previous filing
09 Feb 2024
Next filing
05 Mar 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CRUS Common Stock Options Exercise $102,726 +5,043 +25% $20.37 25,597 14 Feb 2024 Direct F1
transaction CRUS Common Stock Sale $455,736 -5,043 -20% $90.37 20,554 14 Feb 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 -5,043 -100% $0.000000* 0 14 Feb 2024 Common Stock 5,043 $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.