[Form 4] Cirrus Logic Inc Insider Trading Activity

Rhea-AI Filing Summary

Maplebear Inc. (CART) – Form 4 filed 29 Jul 2025

Investment vehicles controlled by GCM Grosvenor and its affiliates reported a sale of 4,864,272 Class A common shares on 25 Jul 2025 at $47.75 each, generating roughly $232 million in proceeds. The largest block—4,238,887 shares—was sold by GCM Grosvenor IC SPV, LLC, leaving that entity with 3,653,606 shares. GCM Grosvenor IC SPV 2, LLC disposed of 565,385 shares and now holds 487,318 shares. GCM Special Opportunities Master Fund, Ltd. exited its remaining 60,000-share position.

The reporting entities, which collectively exceeded the 10 % ownership threshold, remain above 10 % after the transactions but materially reduced their exposure. No derivative transactions were reported. Each filer disclaims beneficial ownership beyond its economic interest, and this filing is the first of two identical submissions because of SEC limits on joint filers.

Positive

• None.

Negative

• Large insider sale worth ~$232 M by entities previously owning >10 % of CART, reducing their aggregate stake by approximately 4.9 M shares and increasing potential share-supply overhang.

Insights

Sell-side Equity Analyst

TL;DR: >$232 M insider sale by 10 % holder; modest stake remains.

The coordinated sale represents roughly 55-60 % of GCM’s previously reported position (exact float not provided), signalling a strategic profit-taking move after CART’s post-IPO share appreciation. Large, market-priced sales through multiple vehicles suggest an orderly secondary placement rather than distress. While the group still holds 4.1 M shares, the magnitude of the disposal could weigh on near-term sentiment and raise supply concerns if additional blocks follow. With no derivatives or simultaneous purchases disclosed, the filing skews incrementally negative for valuation momentum.

Portfolio Risk Manager

TL;DR: Liquidity event by strategic holder; monitor further exits.

The size (>4.8 M shares) and cash value (~$232 M) make this filing impactful. Although executed at market, the transaction reduces alignment between a once-long-term sponsor and public shareholders. Remaining ownership (≈4.1 M shares) limits downside if no follow-on sales occur, yet persistent overhang risk rises. Absent offsetting insider buys, I assign a negative governance signal and would factor potential supply into position-sizing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

LE DUY LOAN T

(Last) (First) (Middle)

800 WEST 6TH STREET

(Street)

AUSTIN TX 78701

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CIRRUS LOGIC, INC. [ CRUS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/26/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock(1)	07/26/2025	(2)	A		1,624	A	$0	4,199	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	07/26/2025		M			1,624	07/26/2025	(2)	Common Stock	1,624	$0	0	D
Restricted Stock Units	(3)	07/29/2025		A		1,998(4)		(5)	(5)	Common Stock	1,998	$0	1,998	D

Explanation of Responses:

1. Each restricted stock unit was the economic equivalent of one share of common stock. The restricted stock unit vested on July 26, 2025.

2. Expiration Date of July 26, 2025.

3. Each restricted stock unit represents a contingent right to receive one share of Cirrus Logic common stock.

4. Restricted Stock Units granted upon re-election to Cirrus Logic, Inc.'s Board of Directors.

5. 100% of the restricted stock units will vest on the earlier of: (a) the date of the Company's next Annual Meeting or (b) on July 29,2026, the 1-year anniversary of the grant date.

Remarks:

	By: Gregory Scott Thomas attorney-in-fact For: Duy-Loan T. Le	07/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Maplebear (CART) shares did GCM Grosvenor affiliates sell?

They sold 4,864,272 common shares on 25 Jul 2025.

What was the sale price disclosed in the Form 4?

All shares were sold at $47.75 per share.

What is the remaining stake of GCM Grosvenor IC SPV, LLC after the transaction?

GCM Grosvenor IC SPV, LLC now holds 3,653,606 shares.

Did GCM Special Opportunities Master Fund retain any CART shares?

No. It sold its entire 60,000-share position and now holds zero shares.

Why are there two identical Form 4 filings for the same transactions?

SEC’s EDGAR system allows only 10 joint filers per report, so the group filed two identical reports to include all affiliates.