Form 4 for CRUS CIRRUS LOGIC, INC.
Accepted 2023-02-08 00:00:00 ET · period of report 2023-02-06 · accession 0001273902-23-000022 · 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2023-02-08 | 2023-02-07 | CRUS | Dougherty Justin E | SVP, Gbl Ops | M - OptEx | $68.56 | +8,043 | 25.5K | +46% | +$551.4K |
| DM | 2023-02-08 | 2023-02-07 | CRUS | Dougherty Justin E | SVP, Gbl Ops | S - Sale+OE | $103.67 | -16.2K | 17.4K | -48% | -$1.68M |
| DM | 2023-02-08 | 2023-02-06 | CRUS | Dougherty Justin E | SVP, Gbl Ops | A - Grant | $0.00 | +12.2K | 10.1K | New | $0 |
| DM | 2023-02-08 | 2023-02-07 | CRUS | Dougherty Justin E | SVP, Gbl Ops | M - OptEx | $0.00 | -8,043 | 663 | -92% | $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 | 2023-02-07 | M | A | 8,043 | $68.56 | 25,493 | D | — | — | |
| 2 | Common | Common Stock | 2023-02-07 | S | D | 8,170 | $103.84 | 9,280 | D | — | — | (F1) The price reported in Table I - Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $103.92 to $103.83. 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. |
| 3 | Common | Common Stock | 2023-02-07 | S | D | 8,043 | $103.50 | 17,450 | D | — | — | |
| 4 | Derivative | Incentive Stock Option (right to buy) | 2023-02-06 | A | A | 1,573 | $0.00 | 1,573 | D | $102.37 · — to 2033-02-06 | 1,573 Common Stock | (F2) 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 2/6/27. |
| 5 | Derivative | Non-Qualified Stock Option (right to buy) | 2023-02-06 | A | A | 5,436 | $0.00 | 5,436 | D | $102.37 · — to 2033-02-06 | 5,436 Common Stock | (F2) 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 2/6/27. |
| 6 | Derivative | Performance Shares | 2023-02-06 | A | A | 2,169 | $0.00 | 7,330 | D | — · — to — | 2,169 Common Stock | (F3) 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 6, 2023, and ending on February 6, 2026. |
| 7 | Derivative | Restricted Stock Units | 2023-02-06 | A | A | 3,012 | $0.00 | 10,120 | D | — · — to — | 3,012 Common Stock | (F4) Each restricted stock unit represents a contingent right to receive one share of Cirrus Logic common stock. (F5) 100% of the restricted stock units will vest on 2/6/26, the 3-year anniversary of the grant date. |
| 8 | Derivative | Incentive Stock Option (right to buy) | 2023-02-07 | M | D | 4,638 | $0.00 | 1,194 | D | $68.56 · — to 2029-11-06 | 4,638 Common Stock | (F6) Only vested shares can be exercised under this option. 25% of the shares vested on 11/6/20; the remaining shares will vest monthly over the following 36 months so that the option will be fully vested and exercisable on 11/6/23. |
| 9 | Derivative | Non-Qualified Stock Option (right to buy) | 2023-02-07 | M | D | 3,405 | $0.00 | 663 | D | $68.56 · — to 2029-11-06 | 3,405 Common Stock | (F6) Only vested shares can be exercised under this option. 25% of the shares vested on 11/6/20; the remaining shares will vest monthly over the following 36 months so that the option will be fully vested and exercisable on 11/6/23. |