SEC Form 4 · accession 0001273902-15-000130
CIRRUS LOGIC, INC. · CRUS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bradley J Fluke
Officer — VP & GM, MEMS Division
Period of report
Nov 4, 2015
Accepted (ET)
Nov 6, 2015 · 7:44 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000772406
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Incentive Stock Option (right to buy)F1 | $31.25 | Nov 4, 2015 | A | 6,400 | A | — | Nov 4, 2025 | Common Stock | 6,400 | 6,400 | D |
| Non-Qualified Stock Option (right to buy)F1 | $31.25 | Nov 4, 2015 | A | 14,433 | A | — | Nov 4, 2025 | Common Stock | 14,433 | 14,433 | D |
| Performance SharesF2 | — | Nov 4, 2015 | A | 5,169 | A | — | — | Common Stock | 5,169 | 5,169 | D |
| Restricted Stock UnitsF3,F4 | $0.00 | Nov 4, 2015 | A | 6,875 | A | — | — | Common Stock | 6,875 | 24,710 | D |
Explanation of responses
- F1Only vested shares can be exercised under this option. 25% of the shares will vest on 11/4/16; the remaining shares will vest monthly over the following 36 months so that the option will be fully vested and exercisable on 11/4/19.
- F2Each Performance-based Restricted Stock Unit ("RSUs") represents 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 performance-based RSUs is contingent upon the achievement of pre-established performance metrics, as approved by the Company's Compensation Committee, over a three-year performance period beginning on November 4, 2015, and ending on November 4, 2018.
- F3Each restricted stock unit represents a contingent right to receive one share of Cirrus Logic common stock.
- F4100% of the restricted stock units will vest on 11/4/18, the 3-year anniversary of the grant date.