SEC Form 4 · accession 0001273902-16-000217
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
Aug 15, 2016
Accepted (ET)
Aug 17, 2016 · 4:34 pm EDT
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 | Aug 15, 2016 | M | 100,000 | $7.87 | A | 229,680 | D | |
| Common StockF2 | Aug 15, 2016 | S | 100,000 | $51.9053 | 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)F4,F3 | $7.87 | Aug 15, 2016 | M | 100,000 | D | — | Jun 6, 2017 | Common Stock | 100,000 | 90,156 | D |
Explanation of responses
- F1This transaction was made pursuant to a Rule 10b5-1 Plan adopted by the reporting person on November 24, 2015, as amended on May 31, 2016.
- F2The price reported in Table I - Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.20 to $52.28. 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.
- F4Dr. Rhode continues to beneficially own 801,400 shares, which includes 671,720 shares issuable upon exercise of vested stock options held by Dr. Rhode and 129,680 shares held directly.