SEC Form 4 · accession 0001273902-16-000288
CIRRUS LOGIC, INC. · CRUS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Alexander M Davern
Director
Period of report
Nov 7, 2016
Accepted (ET)
Nov 9, 2016 · 5:38 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 | Nov 7, 2016 | M | 6,500 | $32.29 | A | 15,164 | D | |
| Common StockF1 | Nov 7, 2016 | S | 6,500 | $55.232 | D | 8,664 | 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)F2 | $32.29 | Nov 7, 2016 | M | 6,500 | D | — | Mar 25, 2025 | Common Stock | 6,500 | 15,231 | D |
Explanation of responses
- F1The price reported in Table I - Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $55.23 to $55.24. The reporting person will provide full information regarding the number of shares bought at 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.
- F2The option vests on a 4-year schedule: 25% of the shares became exercisable on 03/25/2016; the remaining 75% of the shares will vest at a rate of 1/36th per month over the following 36 months so that the option will be fully vested and exercisable on 03/25/2019.