Form 4: Cirrus Logic Director David Tupman Executes Stock Option and Sells Shares Under 10b5-1 Plan

Director David Tupman exercised stock options and sold shares of Cirrus Logic under a pre-arranged 10b5-1 trading plan.

Summary

• On June 6, 2024, David J. Tupman, a director of Cirrus Logic, Inc., executed a transaction involving the company's stock.
• Tupman exercised a non-qualified stock option to acquire 5,000 shares of common stock at a price of $33.38 per share.
• Simultaneously, Tupman sold 5,000 shares of common stock at a price of $119.95 per share.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on February 12, 2024.
• Following these transactions, Tupman beneficially owns 21,719 shares of Cirrus Logic common stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a standard Form 4 filing related to pre-planned stock transactions. It doesn't inherently indicate a positive or negative outlook for the company.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions. It is common for executives and directors to utilize 10b5-1 plans to manage their stock transactions and avoid accusations of insider trading. The filing itself doesn't necessarily indicate a positive or negative outlook for the company.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the impact is likely minimal given the relatively small number of shares involved.

Key Dates