David J. Tupman - May 30, 2024 Form 4 Insider Report for CIRRUS LOGIC, INC. (CRUS)

Role
Director
Signature
By: Gregory Scott Thomas attorney-in-fact For: David John Tupman
Stock symbol
CRUS
Transactions as of
May 30, 2024
Transactions value $
-$839,474
Form type
4
Date filed
6/3/2024, 04:42 PM
Previous filing
May 16, 2024
Next filing
Jun 7, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CRUS Common Stock Options Exercise $345K +10.3K +47.64% $33.38 32.1K May 30, 2024 Direct F1
transaction CRUS Common Stock Sale -$1.18M -10.3K -32.27% $114.52 21.7K May 30, 2024 Direct F1, F2

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 Non-Qualified Stock Option (right to buy) Options Exercise $0 -10.3K -67.42% $0.00 5K May 30, 2024 Common Stock 10.3K $33.38 Direct F1, F3
* 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 February 12, 2024.
F2 The price reported in Table I - Column 4 is a weighted average price. These shares were sold in two separate transactions, each having a weighted average price of $114.52 at pricing ranging from $113.903 to $115.470. 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.
F3 Only vested shares can be exercised under this option. 25% of the shares vested on 07/29/16; the remaining shares vested monthly over the following 36 months so that the option was fully vested and exercisable on 07/29/19.