4//SEC Filing
Hughes Allan 4
Accession 0001273902-22-000079
CIK 0000772406other
Filed
Nov 7, 7:00 PM ET
Accepted
Nov 8, 4:16 PM ET
Size
14.5 KB
Accession
0001273902-22-000079
Insider Transaction Report
Form 4
Hughes Allan
Vice President
Transactions
- Tax Payment
Common Stock
2022-11-06$68.56/sh−393$26,944→ 5,214 total - Exercise/Conversion
Common Stock
2022-11-06+3,300→ 8,514 total - Award
Performance Shares
2022-11-06+2,640→ 4,403 totalFrom: 2022-11-06→ Common Stock (2,640 underlying) - Exercise/Conversion
Common Stock
2022-11-06+818→ 5,607 total - Tax Payment
Common Stock
2022-11-06$68.56/sh−1,584$108,599→ 6,930 total - Award
Restricted Stock Units
2022-11-06+3,300→ 6,049 totalFrom: 2022-11-06→ Common Stock (3,300 underlying)
Footnotes (5)
- [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 6, 2019 and ending November 6, 2022. 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. Hughes's target number of PBRSUs was 2,640, and Cirrus Logic's TSR for the three-year period resulted in a 31% payout percentage. Therefore, 818 shares of common stock vested.
- [F2]No shares were sold; these shares were withheld to satisfy tax withholding requirements.
- [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 is contingent upon the achievement of pre-established performance metrics, as approved by the Company's Compensation and Human Resources Committee, over a three-year performance period beginning on November 6, 2019, and ending on November 6, 2022. The number of shares reported here represents the target amount. On November 6, 2022, 31% of the target amount vested, and the Company withheld sufficient shares for payment of required tax obligations.
- [F4]Each restricted stock unit was the economic equivalent of one share of common stock. The restricted stock unit vested on November 6, 2022, and the Company withheld sufficient shares for payment of required tax withholdings.
- [F5]Expiration Date of 11/6/22.
Documents
Issuer
CIRRUS LOGIC, INC.
CIK 0000772406
Entity typeother
Related Parties
1- filerCIK 0001617124
Filing Metadata
- Form type
- 4
- Filed
- Nov 7, 7:00 PM ET
- Accepted
- Nov 8, 4:16 PM ET
- Size
- 14.5 KB