0001273902-22-000079.txt : 20221108
0001273902-22-000079.hdr.sgml : 20221108
20221108161604
ACCESSION NUMBER: 0001273902-22-000079
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20221106
FILED AS OF DATE: 20221108
DATE AS OF CHANGE: 20221108
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Hughes Allan
CENTRAL INDEX KEY: 0001617124
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-17795
FILM NUMBER: 221369099
MAIL ADDRESS:
STREET 1: WESTFIELD HOUSE
STREET 2: 26 WESTFIELD ROAD
CITY: EDINBURGH
STATE: X0
ZIP: EH11 2QB
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: CIRRUS LOGIC, INC.
CENTRAL INDEX KEY: 0000772406
STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674]
IRS NUMBER: 770024818
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0325
BUSINESS ADDRESS:
STREET 1: 800 WEST 6TH STREET
CITY: AUSTIN
STATE: TX
ZIP: 78701
BUSINESS PHONE: 512-851-4000
MAIL ADDRESS:
STREET 1: 800 WEST 6TH STREET
CITY: AUSTIN
STATE: TX
ZIP: 78701
FORMER COMPANY:
FORMER CONFORMED NAME: CIRRUS LOGIC INC
DATE OF NAME CHANGE: 19920703
4
1
wf-form4_166794214726463.xml
FORM 4
X0306
4
2022-11-06
0
0000772406
CIRRUS LOGIC, INC.
CRUS
0001617124
Hughes Allan
800 WEST 6TH STREET
AUSTIN
TX
78701
0
1
0
0
VP, Cirrus Logic Internat
Common Stock
2022-11-06
4
M
0
818
0
A
5607
D
Common Stock
2022-11-06
4
F
0
393
68.56
D
5214
D
Common Stock
2022-11-06
4
M
0
3300
0
A
8514
D
Common Stock
2022-11-06
4
F
0
1584
68.56
D
6930
D
Performance Shares
2022-11-06
4
A
0
2640
0
A
2022-11-06
Common Stock
2640.0
4403
D
Restricted Stock Units
2022-11-06
4
A
0
3300
0
A
2022-11-06
Common Stock
3300.0
6049
D
The number of performance based RSUs (PBRSUs) that vested was determined based on pre-established performance metrics over a three-year period beginning November 6, 2019 and ending November 6, 2022. 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. Hughes's target number of PBRSUs was 2,640, and Cirrus Logic's TSR for the three-year period resulted in a 31% payout percentage. Therefore, 818 shares of common stock vested.
No shares were sold; these shares were withheld to satisfy tax withholding requirements.
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 November 6, 2019, and ending on November 6, 2022. The number of shares reported here represents the target amount. On November 6, 2022, 31% of the target amount vested, and the Company withheld sufficient shares for payment of required tax obligations.
Each restricted stock unit was the economic equivalent of one share of common stock. The restricted stock unit vested on November 6, 2022, and the Company withheld sufficient shares for payment of required tax withholdings.
Expiration Date of 11/6/22.
By: Gregory Scott Thomas attorney-in-fact For: Allan Hughes
2022-11-08