March 3, 2024 · Form 4 insider transaction
Dougherty Justin E sold 2,718 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.
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 March 3, 2021, and ending on March 3, 2024. The number of shares reported here represents the target amount. On March 3, 2024, 39% of the target amount vested, and the Company withheld sufficient shares for payment of required tax obligations.