Form 4 for CRUS CIRRUS LOGIC, INC.
Accepted 2021-11-09 00:00:00 ET · period of report 2021-11-07 · accession 0001270350-21-000018 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DM | 2021-11-09 | 2021-11-07 | CRUS | Baumgartner Jeffrey W | VP, R, D | F - Tax | $78.85 | -2,003 | 582 | -77% | -$157.9K |
| DM | 2021-11-09 | 2021-11-07 | CRUS | Baumgartner Jeffrey W | VP, R, D | M - OptEx | $0.00 | +5,086 | 961 | New | $0 |
| DM | 2021-11-09 | 2021-11-07 | CRUS | Baumgartner Jeffrey W | VP, R, D | M - OptEx | $0.00 | -7,225 | 8,529 | -46% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2021-11-07 | F | D | 1,624 | $78.85 | 3,083 | D | — | — | (F2) No shares were sold; these shares were withheld to satisfy tax withholding requirements. |
| 2 | Common | Common Stock | 2021-11-07 | M | A | 4,125 | $0.00 | 4,707 | D | — | — | |
| 3 | Common | Common Stock | 2021-11-07 | M | A | 961 | $0.00 | 961 | D | — | — | (F1) The number of performance based RSUs (PBRSUs) that vested was determined based on pre-established performance metrics over a three-year period beginning November 7, 2018 and ending November 7, 2021. A total shareholder return (TSR) measurement was made relative to the component companies of the Philadelphia Semiconductor Index, which determined a payout percentage ranging between 0-200%. The payout percentage was then multiplied by a target number of PBRSUs. Mr. Baumgartner?s target number of PBRSUs was 3,100, and Cirrus Logic's TSR for the three-year period resulted in a 31% payout percentage. Therefore 961 shares of common stock vested. |
| 4 | Common | Common Stock | 2021-11-07 | F | D | 379 | $78.85 | 582 | D | — | — | (F2) No shares were sold; these shares were withheld to satisfy tax withholding requirements. |
| 5 | Derivative | Performance Shares | 2021-11-07 | M | D | 3,100 | $0.00 | 6,219 | D | — · 2021-11-07 to — | 3,100 Common Stock | (F3) Each performance based RSU (PBRSU) represented 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 was 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 November 7, 2018 and ending November 7, 2021. The number of shares reported here represents the target amount. On November 7, 2021, 31% of the target amount vested, and the Company withheld sufficient shares for payment of required tax obligations. |
| 6 | Derivative | Restricted Stock Units | 2021-11-07 | M | D | 4,125 | $0.00 | 8,529 | D | — · 2021-11-07 to — | 4,125 Common Stock | (F4) Each restricted stock unit was the economic equivalent of one share of common stock. The restricted stock unit vested on November 7, 2021, and the Company withheld sufficient shares for payment of required tax withholdings. (F5) Expiration Date of 11/07/21. |