THOMAS SCOTT 4

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.