Baumgartner Jeffrey W 4
4 · CIRRUS LOGIC, INC. · Filed Jun 2, 2026
Research Summary
AI-generated summary of this filing
Cirrus Logic (CRUS) EVP Jeffrey W. Baumgartner Exercises Options, Sells Shares
What Happened
Jeffrey W. Baumgartner, EVP of R&D at Cirrus Logic (CRUS), exercised 10,000 stock options on May 29, 2026, paying $38.34 per share for a total cost of $383,400. On the same day he sold 11,171 shares in an open-market transaction for a weighted-average price of $171.65, generating proceeds of approximately $1,917,502. The filing also reports two derivative conversion/disposition entries (2,609 and 7,391 shares at $0.00), which together equal the 10,000 exercised shares reported.
Key Details
- Transaction date: 2026-05-29; Form 4 filed: 2026-06-02 (filed within typical 2 business days).
- Option exercise: 10,000 shares @ $38.34 = $383,400 (code M).
- Open-market sale: 11,171 shares @ weighted avg $171.65 = $1,917,502 (code S). Sales executed at prices ranging $168.78–$176.30 per share (footnote F2).
- Additional derivative entries: dispositions of 2,609 and 7,391 shares at $0.00 (together equal 10,000 shares).
- Shares owned after transaction: not specified in the provided filing summary.
- Footnotes: transaction executed under a Rule 10b5-1 plan adopted Feb 27, 2026 (F1); options were fully vested and exercisable as of 05/02/22 (F3).
Context
The filing shows exercise and same-day sales, a common pattern when executives exercise options and sell shares immediately (often effectively a cashless exercise). The sale was made under a pre-established 10b5-1 trading plan, which typically schedules trades in advance and helps avoid questions about timing. This is routine insider activity and does not, by itself, indicate the insider’s long-term view on the company.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-05-29$38.34/sh+10,000$383,400→ 28,746 total - Sale
Common Stock
[F1][F2]2026-05-29$171.65/sh−11,171$1,917,502→ 17,575 total - Exercise/Conversion
Incentive Stock Option (right to buy)
[F3]2026-05-29−2,609→ 0 totalExercise: $38.34Exp: 2028-05-02→ Common Stock (2,609 underlying) - Exercise/Conversion
Non-Qualified Stock Option (right to buy)
[F3]2026-05-29−7,391→ 0 totalExercise: $38.34Exp: 2028-05-02→ Common Stock (7,391 underlying)
Footnotes (3)
- [F1]This transaction was made pursuant to a Rule 10b5-1 plan adopted by the reporting person on February 27, 2026.
- [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 $168.78 to $176.30. 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 05/02/19; the remaining shares vested monthly over the following 36 months so that the option was fully vested and exercisable on 05/02/22.