4//SEC Filing
THOMAS SCOTT 4
Accession 0001273902-24-000024
CIK 0000772406other
Filed
Mar 4, 7:00 PM ET
Accepted
Mar 5, 4:51 PM ET
Size
14.6 KB
Accession
0001273902-24-000024
Insider Transaction Report
Form 4
THOMAS SCOTT
VP General Counsel
Transactions
- Exercise/Conversion
Common Stock
2024-03-03+949→ 21,503 total - Tax Payment
Common Stock
2024-03-03$93.23/sh−232$21,629→ 21,271 total - Exercise/Conversion
Common Stock
2024-03-03+3,653→ 24,924 total - Tax Payment
Common Stock
2024-03-03$93.23/sh−949$88,475→ 23,975 total - Exercise/Conversion
Performance Shares
2024-03-03−2,435→ 6,969 totalFrom: 2024-03-03→ Common Stock (2,435 underlying) - Exercise/Conversion
Restricted Stock Units
2024-03-03−3,653→ 9,619 totalFrom: 2024-03-03→ Common Stock (3,653 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 March 3, 2021, and ending March 3, 2024, 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. Thomas' target number of PBRSUs was 2,435, and Cirrus Logic's TSR for the three-year period resulted in a 39% payout percentage. Therefore, 949 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 March 3, 2021, and ending on March 3, 2024. The number of shares reported here represents the target amount. On March 3, 2024, 39% 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 March 3, 2024, and the Company withheld sufficient shares for payment of required tax withholdings.
- [F5]Expiration Date of 03/3/24.
Documents
Issuer
CIRRUS LOGIC, INC.
CIK 0000772406
Entity typeother
Related Parties
1- filerCIK 0001273902
Filing Metadata
- Form type
- 4
- Filed
- Mar 4, 7:00 PM ET
- Accepted
- Mar 5, 4:51 PM ET
- Size
- 14.6 KB