Cirrus Logic (CRUS) EVP Thomas reports stock vesting, tax withholdings and new MSU, RSU grants
Rhea-AI Filing Summary
Cirrus Logic EVP and General Counsel Gregory Scott Thomas reported equity award activity and tax withholdings in company stock. On February 6, 2026, 2,450 shares of common stock vested from performance-based Market Stock Units after Cirrus Logic achieved a 113% payout versus Philadelphia Semiconductor Index peers, and 597 shares were withheld to cover taxes at $142.78 per share. On the same date, 3,012 restricted stock units vested into common stock, with 779 shares withheld for taxes at $142.78 per share. Following these transactions, he directly held 30,393 shares of common stock. On February 5, 2026, he was granted 5,140 restricted stock units that vest in full on February 5, 2029, and 4,141 performance-based MSUs tied to a three-year total shareholder return period ending February 5, 2029, relative to the Russell 3000 index.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Shares | 2,169 | $0.00 | -- |
| Exercise | Restricted Stock Units | 3,012 | $0.00 | -- |
| Exercise | Common Stock | 2,450 | $0.00 | -- |
| Tax Withholding | Common Stock | 597 | $142.78 | $85K |
| Exercise | Common Stock | 3,012 | $0.00 | -- |
| Tax Withholding | Common Stock | 779 | $142.78 | $111K |
| Grant/Award | Restricted Stock Units | 5,140 | $0.00 | -- |
| Grant/Award | Performance Shares | 4,141 | $0.00 | -- |
Footnotes (1)
- The number of performance-based restricted stock units that we refer to as Market Stock Units (MSUs) that vested was determined based on pre-established performance metrics over a three-year period beginning February 6, 2023, and ending February 6, 2026. A total shareholder return (TSR) measurement was made relative to the component companies of the Philadelphia Semiconductor Index, which determined a payout percentage ranging between 0-200%. The payout percentage was then multiplied by a target number of MSUs. Mr. Thomas's target number of MSUs was 2,169 (which is shown in Table II), and Cirrus Logic's TSR for the three-year period resulted in a 113% payout percentage. Therefore, 2,450 shares of common stock vested (which is shown in Table I), and the Company withheld sufficient shares for payment of required tax obligations. No shares were sold; these shares were withheld to satisfy tax withholding requirements. Each restricted stock unit was the economic equivalent of one share of common stock. The restricted stock unit vested on February 6, 2026, and the Company withheld sufficient shares for payment of required tax withholdings. Each restricted stock unit represents a contingent right to receive one share of Cirrus Logic common stock. 100% of the restricted stock units will vest on February 5, 2029, the 3-year anniversary of the grant date. These performance shares reflect performance-based restricted stock units that we refer to as Market Stock Units (MSUs). Each MSU 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 MSUs 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 February 5, 2026, and ending on February 5, 2029. The MSU performance metrics involve total shareholder return (TSR) relative to the component companies of the Russell 3000 index.
