Baumgartner Jeffrey W 4

What Happened
Jeffrey W. Baumgartner, EVP of R&D at Cirrus Logic, exercised 1,458 stock options on July 1, 2026, paying $68.56 per share (total cost $99,960). The same 1,458 shares were then sold in an open-market transaction at $145.97 per share for total gross proceeds of $212,824. The Form 4 also records the derivative conversion (the option being exercised) associated with this transaction.

Key Details

• Transaction date: July 1, 2026. Filing date: July 2, 2026 (timely).
• Option exercise: 1,458 shares at $68.56/share = $99,960 (Transaction code M).
• Open-market sale: 1,458 shares at $145.97/share = $212,824 (Transaction code S).
• Derivative conversion entry: 1,458 shares reported as disposed at $0 (reflects the option conversion/exercise).
• Footnotes: Transaction executed under a Rule 10b5-1 trading plan adopted Feb 27, 2026 (F1). The options were fully vested (original vesting completed 11/6/23) (F2).
• Shares owned after the transaction: not disclosed in the provided filing data.
• Not reported as a late filing.

Context
This was essentially a cashless exercise followed immediately by an open-market sale: Baumgartner paid the option strike to convert options into shares, then sold those shares. The use of a 10b5-1 plan indicates the sale was prearranged and not necessarily a reaction to recent company news. Such exercises-and-sales are common for executives monetizing vested options and do not by themselves indicate a change in company outlook.