SEC Form 4 · accession 0001273902-17-000105
CIRRUS LOGIC, INC. · CRUS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Randolph K Carlson
Officer — VP of Supply Chain Divisi
Period of report
Nov 1, 2017
Accepted (ET)
Nov 2, 2017 · 5:09 pm EDT
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 | $55.72 | Nov 1, 2017 | A | 1,794 | A | — | Nov 1, 2027 | Common Stock | 1,794 | 1,794 | D |
| Non-Qualified Stock Option (right to buy)F1 | $55.72 | Nov 1, 2017 | A | 10,206 | A | — | Nov 1, 2027 | Common Stock | 10,206 | 10,206 | D |
| Performance SharesF2 | — | Nov 1, 2017 | A | 3,000 | A | — | — | Common Stock | 3,000 | 11,013 | D |
| Restricted Stock UnitsF3,F4 | — | Nov 1, 2017 | A | 4,000 | A | — | — | Common Stock | 4,000 | 14,667 | D |
Explanation of responses
- F1Only vested shares can be exercised under this option. 25% of the shares will vest on 11/1/18; the remaining shares will vest monthly over the following 36 months so that the option will be fully vested and exercisable on 11/1/21.
- F2Each Performance-based Restricted Stock Unit ("RSU's") 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 RSU's 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 1, 2017, and ending on November 1, 2020.
- 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 11/1/20, the 3-year anniversary of the grant date.