Company: CRUS
Filing Date: 2025-05-23
Form Type: 10-K
Source: 0000772406-25-000014
Chunk: 101

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-05-23
Form: 10-K
Item: Item 8
Chunk 101
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 the Plan by 1.5 shares.  Stock options generally vest between one and four years, and are exercisable for a period of ten years from the date of grant.  Restricted stock units are generally subject to vesting from one to three years, depending upon the terms of the grant.  Market stock units are subject to a vesting schedule of three years. Performance stock units are generally subject to vesting from one to three years, depending upon the terms of the grant.  The following table summarizes the activity in total shares available for grant (in thousands):  Shares Available for GrantBalance, March 26, 20222,617 Shares added2,090 Granted(2,536)Forfeited303 Balance, March 25, 20232,474 Shares added— Granted(1,813)Forfeited317 Balance, March 30, 2024978 Shares added2,670 Granted(1,322)Forfeited214 Balance, March 29, 20252,540 

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Stock-based Compensation Expense The following table summarizes the effects of stock-based compensation on cost of goods sold, research and development, sales, general and administrative, pre-tax income, and net income after taxes for shares granted under the Plan (in thousands, except per share amounts):  Fiscal Year 202520242023Cost of sales$1,332 $1,403 $1,270 Research and development59,184 63,678 57,312 Sales, general and administrative23,630 24,190 23,059 Effect on pre-tax income84,146 89,271 81,641 Income Tax Benefit(19,152)(20,646)(15,184)Total stock-based compensation expense (net of taxes)64,994 68,625 66,457 Stock-based compensation effects on basic earnings per share$1.22 $1.26 $1.19 Stock-based compensation effects on diluted earnings per share1.18 1.22 1.16 The total stock-based compensation expense included in the table above and which is attributable to restricted stock units, performance based stock units, and market stock units was $80.7 million, $85.1 million, $78.0 million, for fiscal years 2025, 2024, and 2023, respectively.  Stock-based compensation expense is presented within operating