March 3, 2024 · Form 4 insider transaction
Dougherty Justin E bought 1,060 shares of Cirrus Logic, Inc. at $0.00 per share, a transaction worth N/A. The trade was recorded as option exercise and disclosed on an SEC Form 4, filed 2 days after the transaction.
The number of performance based RSUs (PBRSUs) that vested was determined based on pre-established performance metrics over a three-year period beginning March 3, 2021, and ending March 3, 2024, 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. Dougherty target number of PBRSUs was 2,718, and Cirrus Logic's TSR for the three-year period resulted in a 39% payout percentage. Therefore, 1,060 shares of common stock vested.