Form 4: William D. Mosley Acquires Cirrus Logic Stock and Options Upon Joining Board

Director William D. Mosley reports acquisition of Cirrus Logic restricted stock units and stock options following his election to the Board of Directors.

Summary

• William D. Mosley, a director of Cirrus Logic, Inc., reported acquiring restricted stock units and non-qualified stock options on July 26, 2024.
• Mosley acquired 1,624 restricted stock units, which represent a contingent right to receive one share of Cirrus Logic common stock each.
• These restricted stock units were granted upon his first election to Cirrus Logic, Inc.'s Board of Directors and will vest on the earlier of the company's next Annual Meeting or July 26, 2025.
• Mosley also acquired 4,163 non-qualified stock options with an exercise price of $129.24.
• 25% of these shares will vest and become exercisable on July 26, 2025, with the remaining shares vesting monthly over the following 36 months, making the option fully vested and exercisable on July 26, 2028.
• The options expire on July 26, 2034.
• Following the reported transaction, Mosley directly owns 1,624 restricted stock units and 4,163 non-qualified stock options.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects a standard practice of granting equity to a new board member, indicating alignment of interests.

Positives

• The acquisition of stock and options by a new director signals confidence in the company's future.

Future Outlook

The vesting schedules for the restricted stock units and stock options provide incentives for the director to contribute to the company's long-term success.

Industry Context

Director compensation in the form of stock and options is a common practice in the technology industry to align the interests of management with those of shareholders.

Stakeholder Impact

• The equity grants align the director's interests with those of the shareholders.

Key Dates