Company: CRUS
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000772406-25-000034
Chunk: 2

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1A
Chunk 2
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 us pursuant to Section 12 of the Exchange Act during the three months ended June 28, 2025 (in thousands, except per share amounts):

Monthly PeriodTotal Number of Shares PurchasedAverage Price Paid Per ShareTotal Number of Shares Purchased as Part of Publicly Announced Plans or ProgramsApproximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs (1)March 30, 2025 - April 26, 2025297 $84.26 297 $529,108 April 27, 2025 - May 24, 2025628 $105.02 628 $463,108 May 25, 2025 - June 28, 202588 $101.73 88 $454,108 Total1,013 $98.66 1,013 $454,108 

(1) As of June 28, 2025, the Company has one active share repurchase authorization, the $500 million in share repurchases authorized by the Board of Directors in March 2025.  Share repurchases are to be funded from existing cash and intended to be effected from time to time in accordance with applicable securities laws through the open market, including pursuant to a Rule 10b5-1 trading plan, or in privately negotiated transactions.  The timing of repurchases and the actual amount purchased depend on a variety of factors including general market and economic conditions and other corporate considerations.  The authorization does not have an expiration date, does not obligate the Company to repurchase any particular amount of common stock, and may be modified or suspended at any time at the Company's discretion.  The Company repurchased 1.0 million  shares of its common stock for $100.0 million during the first quarter of fiscal year 2026, completing the previous $500 million 2022 share repurchase authorization and beginning repurchases under the 2025 share repurchase authorization.  The Company's repurchases reflected in the table above were made in the open market and were funded from existing cash.  All shares of our common stock that were repurchased were retired as of June 28, 2025.   

The Company's net stock repurchases are subject to a 1 percent excise tax under the Inflation Reduction Act, which is included as a reduction to accumulated earnings in the Consolidated Condensed Statements of Stockholders' Equity.  Disclosure of repurchased amounts and related average