Company: CRUS
Filing Date: 2025-06-04
Form Type: DEF 14A
Source: 0000772406-25-000019
Chunk: 40

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-06-04
Form: DEF 14A
Chunk 40
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 in favor of our NEOs’ compensation as disclosed in our proxy statement, and as a result, our NEOs’ compensation was approved. The Compensation Committee reviewed the final vote results and determined that, given the significant level of support, no specific changes to our executive compensation philosophy or general policies and practices were necessary.

For more information on our fiscal year 2025 stockholder advisory vote, see “Proposal No. 3 – Advisory Vote to Approve Named Executive Officer Compensation” within this proxy statement.

IV. Our General Philosophy and Overall Compensation Framework

We provide our NEOs with compensation opportunities that are based on their individual performance, the financial performance of the Company, their contribution to the financial performance of the Company, and the Company’s total shareholder return relative to certain other semiconductor companies through a mix of the following compensation elements:

• base salary;

• semiannual cash bonus awards; and

• equity compensation including RSUs, MSUs, and PSUs.

These opportunities are designed to attract and retain highly skilled individuals and to align their incentives with the long-term interests of our stockholders.

We are engaged in a very competitive industry, and the Company’s success depends on our ability to attract and retain qualified executives through the competitive compensation packages we offer. We believe that the amounts payable under the compensation program for our NEOs should reflect the Company’s performance and the value created for our stockholders. In addition, we believe the compensation program should balance the short-term and long-term strategic goals and objectives of the Company, as informed by the Board’s involvement in the setting of business strategy, and reward individual contributions to the Company’s success.

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The following summarizes some key governance characteristics related to the executive compensation program in which our NEOs participate:

| What We Do / Have                                                                                                                                                                                                                                                  |     | What We Don’t Do / Don’t Have                                                                                                                                                                                                                                              |
| Maintain an independent Compensation Committee                                                                                                                                                                                                                     |     | No guaranteed bonuses                                                                                                                                                                                                                                                      |
| Utilize an independent compensation consultant hired by and reporting to the Compensation Committee to annually review compensation and performance alignment                                                                                                      |     | No significant perquisites to our executive officers. Other than an annual physical examination reimbursement, our executive officers participate in broad-based company-sponsored health and welfare benefits programs on the same basis as our other full-time employees |
| Substantial percentage of target annual total direct compensation, including compensation associated with performance-based equity awards, is at risk and tied to financial performance or performance of our stock price                                          |     | No hedging, pledging, short sales, or