Company: CRUS
Filing Date: 2025-06-04
Form Type: DEF 14A
Source: 0000772406-25-000019
Chunk: 83

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-06-04
Form: DEF 14A
Chunk 83
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 and tables below present an estimate of the amount of compensation and/or other payments and benefits payable to our NEOs in the event of their termination of employment and/or in the event of a change of control of the Company. The amounts disclosed assume that such termination and/or the occurrence of such change of control was effective as of March 29, 2025, the last day of fiscal year 2025, and that price per share of our common stock was the closing market price as of that date (which was $99.51 per share). We also assume that each NEO was

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continuously employed by the Company and under the Severance Plan and the Incentive Plan throughout at least the second half of fiscal year 2025. The amounts below have been calculated using assumptions, such as these, that we believe to be reasonable, along with further assumptions that are described in more detail below. The actual amounts that would be paid under each scenario depend on various factors, which may or may not exist at the time a NEO’s employment is actually terminated and/or a change of control actually occurs. Therefore, such amounts and disclosures should be considered “forward-looking statements.”

Severance Benefits Involving Involuntary Termination of Employment Without Cause or Termination Resulting from Death/Disability

The estimated amount payable to each of our NEOs, other than Mr. Nathamuni, pursuant to the Severance Plan and the Incentive Plan in the event of an involuntary termination of employment by the Company other than for cause, or due to the NEO’s death or disability, in each case, assuming such termination occurred on March 29, 2025 (and was not following a change in control of the Company), and in view of the other assumptions above, is set forth in the table below. Mr. Nathamuni was not eligible to receive benefits under the Severance Plan or the Incentive Plan in connection with his termination of employment in May 2024.

Such terminations of employment will not result in the acceleration of vesting of outstanding equity awards; therefore, there is no value associated with stock options, RSUs, MSUs, or PSUs in the table below for our NEOs, except for Mr. Woolard’s one-time make-whole RSUs, which are eligible to vest if he is terminated without cause. For purposes of our calculations, we have assumed that all material compensation elements and expenses have been paid current, and there would be no need to include additional values for items such