SEC Form 4 · accession 0001273902-16-000154
CIRRUS LOGIC, INC. · CRUS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jason P Rhode
Officer — President & CEO · Director
Period of report
Mar 7, 2016
Accepted (ET)
Mar 7, 2016 · 6:30 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000772406
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Mar 7, 2016 | M | 50,000 | $7.87 | A | 179,680 | D | |
| Common StockF2 | Mar 7, 2016 | S | 50,000 | $36.05 | D | 129,680 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F3 | $7.87 | Mar 7, 2016 | M | 50,000 | D | — | Jun 6, 2017 | Common Stock | 50,000 | 240,156 | D |
Explanation of responses
- F1This transaction was made pursuant to a Rule 10b5-1 Plan adopted by the reporting person on November 24, 2015.
- F2The price reported in Table I - Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.754 to $36.41. The reporting person will provide full information regarding the number of shares bought as each separate price within the ranges set forth in this footnote to any security holder of Cirrus Logic, Inc. or the staff of the SEC upon request.
- F3The option vested on a 4-year schedule: 25% of the shares became exercisable on 6/6/2008; the remaining 75% of the shares vested at a rate of 1/36th per month over the following 36 months so that the option was fully vested and exercisable on 6/6/2011. Only vested shares can be exercised under this option. The options were set to expire in 2017.