Cirrus Logic EVP vests shares, pays taxes in stock
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
CIRRUS LOGIC, INC. EVP of R&D Jeffrey W. Baumgartner had performance-based stock units vest into 1,080 shares of common stock on May 21, 2026, based on a 72.5% payout of a 1,490-unit baseline grant. The company withheld 419 shares at $166.62 each to cover tax obligations, with no shares sold in the market. Following these transactions, he directly holds 18,746 common shares.
Insider Trade Summary
1,490 shares exercised/converted
Exercise
3 txns
Insider
Baumgartner Jeffrey W
Role
EVP, R&D
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Shares | 1,490 | $0.00 | $0.00 |
| Exercise | Common Stock | 1,080 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 419 | $166.62 | $70K |
Holdings After Transaction:
Performance Shares — 2,980 contracts (Direct);
Common Stock — 18,746 shares (Direct)
Footnotes (2)
- F1. The number of performance-based restricted stock units that we refer to as Performance Stock Units (PSUs) that vested was determined based on pre-established performance metrics, as approved by the Company's Compensation Committee, over the first fiscal year of a three-fiscal-year performance period beginning with fiscal year 2026 and ending at the conclusion of fiscal year 2028. A payout percentage was determined based on the level of performance achieved and then multiplied by the annual baseline allocation of PSUs for this tranche. Mr. Baumgartner's annual baseline allocation of PSUs was 1,490, and the payout percentage for fiscal year 2026 was 72.5%. Therefore, 1,080 shares of common stock vested, 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.
Key Figures
Shares vested: 1,080 shares
Baseline PSUs: 1,490 units
Payout percentage: 72.5%
+4 more
7 metrics
Shares vested
1,080 shares
Common stock vested from PSUs for fiscal 2026 performance
Baseline PSUs
1,490 units
Annual baseline allocation of Performance Stock Units for this tranche
Payout percentage
72.5%
Fiscal 2026 PSU performance payout approved by compensation committee
Tax-withheld shares
419 shares
Shares withheld to satisfy tax obligations, not sold on market
Withholding price
$166.62 per share
Value at which 419 shares were withheld for taxes
Shares owned after
18,746 shares
Direct common stock holdings following the tax-withholding disposition
Remaining performance shares
2,980 units
Performance Shares balance after derivative transaction on May 21, 2026
Key Terms
Performance Stock Units, performance-based restricted stock units, payout percentage, tax withholding requirements, +1 more
5 terms
Performance Stock Units financial
"we refer to as Performance Stock Units (PSUs) that vested was determined based on pre-established performance metrics"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
performance-based restricted stock units financial
"The number of performance-based restricted stock units that we refer to as Performance Stock Units (PSUs)"
Performance-based restricted stock units are a type of employee equity award that converts into company shares only if predefined financial or operational targets are met over a set period. Think of it like a bonus check that becomes stock only when specific goals are hit; it ties pay to results, aligning managers’ incentives with shareholders. Investors care because these awards affect future share count, executive incentives, and signal how management’s success will be measured and rewarded.
payout percentage financial
"A payout percentage was determined based on the level of performance achieved"
tax withholding requirements financial
"these shares were withheld to satisfy tax withholding requirements"
Compensation Committee financial
"as approved by the Company's Compensation Committee, over the first fiscal year"
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did CIRRUS LOGIC (CRUS) report for Jeffrey W. Baumgartner?
CIRRUS LOGIC reported that EVP of R&D Jeffrey W. Baumgartner had performance-based stock units vest into 1,080 common shares. A portion of these shares was withheld to satisfy tax obligations, with no open-market sale of stock disclosed.
What are Performance Stock Units (PSUs) in the CIRRUS LOGIC (CRUS) Form 4 filing?
In this filing, Performance Stock Units are performance-based restricted stock units that vest based on pre-established metrics over a three-fiscal-year period. For fiscal 2026, results produced a 72.5% payout on a 1,490-unit baseline, leading to 1,080 common shares vesting to the executive.
What performance period governs the PSUs in CIRRUS LOGIC (CRUS) executive compensation?
The PSUs vest over a three-fiscal-year performance period beginning with fiscal 2026 and ending at the conclusion of fiscal 2028. Fiscal 2026 results determined a 72.5% payout for this tranche, as approved by CIRRUS LOGIC’s compensation committee.
AI-generated analysis. How Rhea-AI works. Not financial advice.
