Cirrus Logic Director Alexander Davern Receives RSU Awards (CRUS)

What Happened

• Alexander M. Davern, a director of Cirrus Logic, received equity awards and a conversion of derivative awards. On July 29, 2026, 1,998 restricted stock units (RSUs) vested and were converted/exercised (reported as a derivative conversion) at $0.00. On July 31, 2026, he was granted an additional 1,623 RSUs (reported as an award) at $0.00. No cash was paid or received in these transactions; these are compensation-related equity awards rather than open-market buys or sales.

Key Details

• Transaction dates and prices:
  • 2026-07-29: 1,998 RSUs vested/converted; price reported $0.00.
  • 2026-07-29: conversion/exercise of derivative for 1,998 shares (reported as disposed on Form 4 because the derivative ceased to exist).
  • 2026-07-31: grant of 1,623 RSUs; price reported $0.00.
• Shares owned after the transactions: not specified in the filing.
• Notable footnotes from the filing:
  • F1/F3: Each RSU equals the economic right to one share and represents a contingent right to receive one share.
  • F2: An expiration date of July 29, 2026 is noted for the applicable instrument.
  • F4: RSUs were granted upon re-election to the Board.
  • F5: The July 31 grant vests 100% on the earlier of the next Annual Meeting or July 31, 2027.
• Filing timeliness: Form 4 was filed on July 31, 2026 for transactions on July 29, 2026 — within the typical two-business-day window (timely).

Context

• These transactions are awards and a conversion of RSUs (derivative). RSUs are compensation that convert into shares when they vest; the conversion here was reported under code M (exercise/conversion of derivative). There is no record of an immediate open-market sale of the shares received, and because these are compensation grants, they should not be interpreted directly as a personal buy/sell signal about company stock.