Cirrus Logic (CRUS) EVP Dougherty sells 2,000 shares after performance stock vest
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Cirrus Logic EVP Justin E. Dougherty reported several equity transactions in company stock. He exercised performance-based awards so that 1,080 shares of common stock vested, based on a 72.5% payout of his 1,490 Performance Stock Units for the fiscal 2026 performance year.
The company withheld 419 shares to cover tax obligations, which were not sold on the market. Dougherty then sold 2,000 shares of common stock in an open-market transaction at a weighted average price around $166.50 per share. Following these transactions, he directly holds 4,537 shares of Cirrus Logic common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 2,000 shares ($333,000)
Net Sell
4 txns
Insider
Dougherty Justin E
Role
EVP, Global Operations
Sold
2,000 shs ($333K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Shares | 1,490 | $0.00 | -- |
| Exercise | Common Stock | 1,080 | $0.00 | -- |
| Tax Withholding | Common Stock | 419 | $166.62 | $70K |
| Sale | Common Stock | 2,000 | $166.50 | $333K |
Holdings After Transaction:
Performance Shares — 2,980 shares (Direct, null);
Common Stock — 6,956 shares (Direct, null)
Footnotes (1)
- 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. Dougherty'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. No shares were sold; these shares were withheld to satisfy tax withholding requirements. The price reported in Table I - Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $166.50 to $166.53. The reporting person will provide full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to any security holder of Cirrus Logic, Inc. or the staff of the SEC upon request.
Key Figures
Open-market sale: 2,000 shares at $166.50/share
Shares owned after transactions: 4,537 shares
Tax withholding shares: 419 shares at $166.62/share
+3 more
6 metrics
Open-market sale
2,000 shares at $166.50/share
Common Stock sale on 2026-05-21
Shares owned after transactions
4,537 shares
Direct common stock holdings following 2026-05-21 trades
Tax withholding shares
419 shares at $166.62/share
Shares withheld to satisfy tax obligations
Vested common shares
1,080 shares
Shares from performance-based vesting for fiscal 2026
PSU baseline allocation
1,490 units
Annual baseline Performance Stock Units for this tranche
Payout percentage
72.5%
Fiscal 2026 performance payout applied to PSU baseline
Key Terms
Performance Stock Units (PSUs), performance metrics, tax withholding requirements, weighted average price
4 terms
Performance Stock Units (PSUs) financial
"we refer to as Performance Stock Units (PSUs) that vested was determined"
Performance stock units (PSUs) are a form of executive or employee pay that promise company shares only if pre-set performance goals are met over a defined period; think of them as a bonus paid in stock that arrives only when the company hits agreed targets. Investors watch PSUs because they affect the number of shares outstanding (dilution) and reveal how management’s pay is tied to financial or operational results, aligning incentives with shareholder outcomes.
performance metrics financial
"determined based on pre-established performance metrics, as approved"
Performance metrics are concrete numbers or ratios that show how well a business, product, or investment is doing—like speed, fuel use and mileage on a car’s dashboard. They measure things investors care about, such as sales growth, profitability, cash flow, customer retention or efficiency, so readers can compare progress, spot strengths or problems, and make informed decisions about buying, holding or selling shares.
tax withholding requirements financial
"these shares were withheld to satisfy tax withholding requirements"
weighted average price financial
"The price reported in Table I - Column 4 is a weighted average price"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
FAQ
What insider transactions did Cirrus Logic (CRUS) EVP Justin Dougherty report?
Justin Dougherty reported vesting of 1,080 common shares from performance-based awards, withholding of 419 shares for taxes, and an open-market sale of 2,000 shares. These combined transactions reflect both equity compensation and subsequent portfolio adjustment activity.
What performance criteria affected Justin Dougherty’s Cirrus Logic (CRUS) Performance Stock Units?
His Performance Stock Units vested based on pre-established performance metrics over the first fiscal year of a three-year period beginning in fiscal 2026. For that year, the payout percentage was 72.5%, leading to 1,080 common shares vesting from a 1,490-unit baseline.