Form 4: Cirrus Logic EVP, CHRO Denise Grode Reports Acquisition of Restricted Stock Units and Performance Shares

Denise Grode, EVP, CHRO of Cirrus Logic, reports the acquisition of restricted stock units and performance shares on February 6, 2025.

Summary

• On February 6, 2025, Denise Grode, the EVP, CHRO of Cirrus Logic, acquired restricted stock units and performance shares.
• She acquired 3,832 restricted stock units that will vest on February 6, 2028.
• She also acquired 3,832 performance shares (PSUs) and 2,285 market stock units (MSUs).
• The number of shares received upon vesting of the PSUs and MSUs is contingent upon achieving pre-established performance metrics over a three-year period.
• Following the reported transactions, Grode directly owns 12,507 restricted stock units, 3,832 PSUs, and 8,795 MSUs.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard disclosure of executive compensation. The performance-based vesting suggests a positive outlook if the company meets its targets.

Positives

• The acquisition of performance-based stock units aligns the executive's interests with the company's performance and shareholder value.

Risks

• The actual number of shares received from PSUs and MSUs depends on the achievement of performance metrics, which may not be met.

Future Outlook

The vesting of performance shares is contingent upon the achievement of pre-established performance metrics over a three-year period, indicating a focus on future performance.

Industry Context

This filing is a routine disclosure of executive compensation in the form of stock grants, which is a common practice in the technology industry to incentivize and retain key personnel.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded technology companies like Texas Instruments, Analog Devices, and Qualcomm.
• The specific metrics used for performance-based vesting (revenue growth, TSR) are also typical in the industry to align executive compensation with company goals and shareholder returns.
• The three-year vesting period is a standard timeframe for such grants.

Stakeholder Impact

• The stock grants align executive interests with shareholder value, potentially benefiting shareholders.
• Employees may be motivated by the executive's stake in the company's performance.

Key Dates