Cirrus Logic (CRUS) EVP Grode vests MSUs and RSUs, gets new awards
Rhea-AI Filing Summary
Cirrus Logic EVP and CHRO Denise Grode reported equity award activity and related tax withholding. On February 6, 2026, 2,186 shares of common stock vested from performance-based Market Stock Units after Cirrus Logic achieved a 113% payout versus the Philadelphia Semiconductor Index. The company withheld 533 and 702 shares at $142.78 per share to cover tax obligations, with no shares sold in the market.
Grode also had 2,687 restricted stock units vest, each equal to one common share. On February 5, 2026, she received 4,337 new restricted stock units that vest in full on February 5, 2029, and 3,494 new Market Stock Units tied to three-year total shareholder return versus the Russell 3000 index.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 3,638 shares
Net Buy
8 txns
Insider
Grode Denise
Role
EVP, CHRO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Shares | 1,935 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 2,687 | $0.00 | $0.00 |
| Exercise | Common Stock | 2,186 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 533 | $142.78 | $76K |
| Exercise | Common Stock | 2,687 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 702 | $142.78 | $100K |
| Grant/Award | Restricted Stock Units | 4,337 | $0.00 | $0.00 |
| Grant/Award | Performance Shares | 3,494 | $0.00 | $0.00 |
Holdings After Transaction:
Performance Shares — 12,070 shares (Direct);
Restricted Stock Units — 18,079 shares (Direct);
Common Stock — 9,336 shares (Direct)
Footnotes (6)
- F1. 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. Ms. Grode's target number of MSUs was 1,935 (which is shown in Table II), and Cirrus Logic's TSR for the three-year period resulted in a 113% payout percentage. Therefore, 2,186 shares of common stock vested (which is shown in Table I), and the Company withheld sufficient shares for payment of required tax obligations.
- F2. No shares were sold; these shares were withheld to satisfy tax withholding requirements.
- F3. 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.
- F4. Each restricted stock unit represents a contingent right to receive one share of Cirrus Logic common stock.
- F5. 100% of the restricted stock units will vest on February 5, 2029, the 3-year anniversary of the grant date.
- F6. 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.
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FAQ
What insider transactions did Cirrus Logic (CRUS) EVP Denise Grode report?
Denise Grode reported vesting of performance-based Market Stock Units and restricted stock units, plus new equity grants. On February 6, 2026, 2,186 common shares vested from MSUs and 2,687 RSUs vested. On February 5, 2026, she received 4,337 RSUs and 3,494 new MSUs.
How were Denise Grode’s Market Stock Units at Cirrus Logic determined to vest?
The Market Stock Units vested based on total shareholder return versus the Philadelphia Semiconductor Index. Over February 6, 2023 to February 6, 2026, Cirrus Logic’s performance produced a 113% payout on Grode’s 1,935 target MSUs, resulting in 2,186 vested common shares.
What new restricted stock units did Denise Grode receive from Cirrus Logic?
On February 5, 2026, Grode received 4,337 restricted stock units, each equal to one Cirrus Logic common share. These RSUs vest 100% on February 5, 2029, the three-year anniversary of the grant date, contingent on her continued service through that date.
What are the terms of Denise Grode’s new Market Stock Units at Cirrus Logic (CRUS)?
The new 3,494 Market Stock Units are performance-based awards that can deliver up to 200% of one share each. Vesting depends on total shareholder return versus Russell 3000 companies over a three-year period from February 5, 2026 to February 5, 2029.