THOMAS SCOTT 4
4 · CIRRUS LOGIC, INC. · Filed Jun 4, 2026
Research Summary
AI-generated summary of this filing
Cirrus Logic (CRUS) EVP Thomas Scott Exercises Options, Sells 1,300 Shares
What Happened
Thomas Scott, EVP and General Counsel of Cirrus Logic (CRUS), exercised 1,300 vested stock options (strike $78.00) on 2026-06-03, paying $101,400 to acquire the shares, and then sold those 1,300 shares in the open market for a weighted-average price of $180.04, generating gross proceeds of $234,052. The filing also records the derivative (the option) as disposed/converted in connection with the exercise.
Key Details
- Transaction date: 2026-06-03 (reported 2026-06-04). Filing appears timely.
- Exercise: 1,300 shares at $78.00 = $101,400 (code M).
- Sale: 1,300 shares at weighted avg $180.04 = $234,052 (code S). Sales occurred at prices ranging $180.00–$180.12 (weighted average reported).
- Net cash difference (sale proceeds minus exercise cost): ~ $132,652 before taxes/fees.
- Shares owned after transaction: not specified in the provided excerpt.
- Footnotes: transaction executed under a Rule 10b5-1 trading plan adopted 11/14/2025 (F1); sale price is a weighted average with multiple execution prices (F2); options were fully vested (vesting completed 3/3/25) and only vested shares could be exercised (F3).
Context
This was a cashless-like transaction where vested options were exercised and the resulting shares were immediately sold — a common way for insiders to monetize already-vested equity. The sale was made under a pre-established 10b5-1 plan, which generally indicates the trades were pre-planned rather than timed to new company information. Such routine exercises-and-sales are not, by themselves, a clear signal about the insider’s view of the company.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-06-03$78.00/sh+1,300$101,400→ 32,348 total - Sale
Common Stock
[F1][F2]2026-06-03$180.04/sh−1,300$234,052→ 31,048 total - Exercise/Conversion
Non-Qualified Stock Option (right to buy)
[F3]2026-06-03−1,300→ 4,642 totalExercise: $78.00Exp: 2031-03-03→ Common Stock (1,300 underlying)
Footnotes (3)
- [F1]This transaction was made pursuant to a Rule 10b5-1 plan adopted by the reporting person on November 14, 2025.
- [F2]The price reported in Table I - Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $180.00 to $180.12. 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.
- [F3]Only vested shares can be exercised under this option. 25% of the shares vested on 3/3/22; the remaining shares vested monthly over the following 36 months so that the option was fully vested and exercisable on 3/3/25.