Cirrus Logic (CRUS) Insider: 10,000-Share Option Exercise and Sale Reported
Rhea-AI Filing Summary
Jeffrey W. Baumgartner, Executive Vice President, R&D of Cirrus Logic, Inc. (CRUS), executed matched option exercise and sale transactions on 09/02/2025 under a Rule 10b5-1 trading plan adopted August 20, 2024. He exercised a non-qualified stock option with an exercise price of $38.34 for 10,000 shares and simultaneously sold 10,000 common shares at a weighted average price of $111.7811 (individual sale prices ranged from $111.05 to $112.47).
Following these transactions the reporting person beneficially owned 14,001 shares and held 7,391 derivative securities. The option exercised was fully vested (final vesting completed 05/02/2022) and has an expiration of 05/02/2028. The Form 4 was signed by attorney-in-fact Gregory Scott Thomas on 09/03/2025.
Positive
- Transaction executed under a Rule 10b5-1 plan, indicating the trades were pre-planned
- Option exercised at $38.34 with corresponding sale proceeds documented (weighted average sale price reported)
Negative
- Insider sold 10,000 shares, reducing direct beneficial ownership from 24,001 to 14,001 shares
- Derivative holdings decreased (10,000-option exercise reduced option exposure; 7,391 derivative securities remain)
Insights
TL;DR: Routine, pre-planned exercise and sale under a 10b5-1 plan; no new disclosure of company fundamentals.
The filing documents a contemporaneous exercise of 10,000 non-qualified stock options at an exercise price of $38.34 and immediate sale of 10,000 shares at a weighted average of $111.7811, executed pursuant to a Rule 10b5-1 plan adopted August 20, 2024. The transactions change the reporting persons direct common stock holding to 14,001 shares and leave 7,391 derivative securities outstanding. For investors, this is a disclosure of insider liquidity activity rather than new operational or financial information about Cirrus Logic.
TL;DR: Governance procedures followed: transaction executed under a documented 10b5-1 plan and documented by attorney-in-fact.
The report shows adherence to a pre-established trading plan (10b5-1) adopted 08/20/2024, with the Form 4 executed by an attorney-in-fact on 09/03/2025. The filing also includes required footnote disclosure on weighted-average sale prices. This filing addresses compliance and disclosure obligations; it does not indicate any unusual governance events or undisclosed related-party transactions.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-Qualified Stock Option (right to buy) | 10,000 | $0.00 | -- |
| Exercise | Common Stock | 10,000 | $38.34 | $383K |
| Sale | Common Stock | 10,000 | $111.7811 | $1.12M |
Footnotes (1)
- This transaction was made pursuant to a Rule 10b5-1 plan adopted by the reporting person on August 20, 2024. The price reported in Table I - Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $111.05 to $112.47. The reporting person will provide full information regarding the number of shares sold 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. Only vested shares can be exercised under this option. 25% of the shares vested on 05/02/19; the remaining shares vested monthly over the following 36 months so that the option was fully vested and exercisable on 05/02/22.
