Company: CRUS
Filing Date: 2025-06-04
Form Type: DEF 14A
Source: 0000772406-25-000019
Chunk: 39

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-06-04
Form: DEF 14A
Chunk 39
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. Woolard’s equity grants were approved separately, as part of a new-hire compensation analysis. Unlike in prior years, the Compensation Committee did not authorize the grant of any stock options to executives in fiscal year 2025.

• MSU Performance . Based on the Company’s three-year stock price performance for the performance period ending in fiscal year 2025, MSUs granted in fiscal year 2022 had a payout percentage of 167%.

• Cash Bonuses . In fiscal year 2025, our financial performance resulted in semiannual Incentive Plan Pay-Out Percentages (as defined below in the section of this Compensation Discussion and Analysis entitled “ Executive Compensation Review for Fiscal Year 2025 – Cash Bonuses ”) of 139% and 124%.

We are committed to paying our NEOs based on Company and individual performance. A significant portion of each NEO’s target total direct compensation is based on the achievement of short-term and long-term corporate goals and objectives.

The Compensation Committee believes that the compensation paid to our NEOs as described in this proxy statement reflects, and is fully supported by, the Company’s performance over the relevant time periods. Our one-year revenue growth was around the 68th percentile of our compensation peer group (whose constituents are identified below in the section of this Compensation Discussion and Analysis entitled “ The Information We Use for Comparisons” ), and our operating income and net income for the four quarters preceding our compensation data-

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gathering efforts placed us at around the 78th and 85th percentiles, respectively, of our compensation peer group.

III. Advisory Vote on Named Executive Officer Compensation and Last Year’s Result

We conduct our stockholder advisory vote on named executive officer compensation on an annual basis. While this vote is not binding on the Company, the Board, or the Compensation Committee, it gives our stockholders an annual opportunity to vote on the compensation of our NEOs as a means to express their views regarding our executive compensation philosophy, our compensation policies and practices, and our decisions regarding executive compensation, all as disclosed in our proxy statement. The Board and the Compensation Committee value the opinions of our stockholders and, to the extent that there is any significant vote against the compensation of our NEOs as disclosed in this proxy statement, we will consider our stockholders’ concerns, and the Compensation Committee will evaluate whether any actions are necessary to address those concerns.

At our 2024 annual meeting of stockholders, 95% of the votes cast on our advisory proposal on named executive officer compensation were