Cirrus Logic (CRUS) Director Le Duy Loan Exercises Derivatives, Receives RSUs

What Happened

• Director Le Duy Loan exercised/converted 1,998 derivative units on July 29, 2026 (reported as acquired at $0) with a corresponding disposition entry for 1,998 derivative units (also $0), and on July 31, 2026 was granted 1,623 restricted stock units (RSUs) reported at $0. The filing shows no cash paid or received for these entries; total reported value is $0.

Key Details

• Transaction dates: exercise/conversion entries dated 2026-07-29; RSU grant dated 2026-07-31; Form 4 filed 2026-07-31.
• Prices/values reported: $0 per share / $0 total for all listed transactions.
• Shares owned after the transactions: not disclosed in the provided filing excerpt.
• Relevant footnotes:
  • F1: The restricted stock unit was the economic equivalent of one share and vested on July 29, 2026.
  • F2: Expiration date (for the derivative) was July 29, 2026.
  • F3: Each RSU represents a contingent right to one share of common stock.
  • F4: The RSUs were granted upon re-election to the Board.
  • F5: 100% of the newly granted RSUs will vest on the earlier of the company’s next Annual Meeting or July 31, 2027.
• Filing timeliness: Form 4 was filed two days after the July 29 transactions (filed July 31), which is within the usual two-business-day reporting window.

Context

• These entries reflect an exercise/conversion of derivative awards and a board-related equity grant, not an open-market purchase or sale. Awards and exercised/converted derivative settlements are typically compensation/vesting events rather than signals of open-market buying or selling by the insider. The RSU grant carries a specified vesting schedule and is tied to board re-election.