Company: CRUS
Filing Date: 2025-06-04
Form Type: DEF 14A
Source: 0000772406-25-000019
Chunk: 45

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-06-04
Form: DEF 14A
Chunk 45
---
 compensation opportunities above the 50th percentile of the applicable Compensation Market Data.

48

V. Executive Compensation Review for Fiscal Year 2025

#### Special Compensation Actions
In connection with his hiring as our new CFO during fiscal year 2025, the Compensation Committee in December 2024 approved the following new-hire compensation package for Mr. Woolard, which was reflected in his offer letter:

• a base salary of $475,000;

• a semiannual target cash bonus opportunity of 37.5% of Mr. Woolard’s annual base salary, pro-rated as appropriate to reflect his start date, pursuant to the cash bonus plan discussed below in the section entitled “ Cash Bonuses ”;

• a hiring bonus of $200,000 subject to pro-rated repayment if Mr. Woolard voluntarily resigns, takes a personal leave exceeding three months, or is terminated (other than in a reduction in force) within 24 months of his hire date, and

• new-hire equity awards discussed below in the section entitled “ Equity Awards and Comparisons to Compensation Market Data .”

The Compensation Committee during fiscal year 2025 also separately approved compensation changes with respect to Mr. Habermann in conjunction with his transitions into the role of Interim CFO (which occurred in May 2024), and from Interim CFO to his current role upon the start date of Mr. Woolard (in February 2025).

These separate analyses were conducted by the Compensation Committee, taking into account competitive market data specific to the roles of CFO and Interim CFO, as applicable, as well as the Company’s retention objectives, particularly in view of competition for technology-company executives. For example, the Compensation Committee determined to award the hiring bonus and new-hire equity awards for Mr. Woolard to induce his commencement of employment with us. These new-hire bonuses and awards for Mr. Woolard were offered as one-time incentives, and next year he will be subject to the same annual compensation review process as our other executives.

Annual Executive Compensation Review (January-March 2025)

Our annual executive compensation review and associated equity award grants occur in the fourth quarter of our fiscal year, which we believe allows the Compensation Committee to determine its compensation decisions in view of our anticipated full fiscal year performance and to better align with the market conditions underlying our peers’ disclosures. See the section of this proxy statement entitled “ Responsible Equity Grant Practices .”

In January 2025, the Compensation Committee performed its annual review of our executive officers’ compensation at a regularly scheduled meeting