Company: CRUS
Filing Date: 2025-05-23
Form Type: 10-K
Source: 0000772406-25-000014
Chunk: 106

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-05-23
Form: 10-K
Item: Item 8
Chunk 106
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ively referred to as the "Indexes".  The requisite service period for these MSUs is also the vesting period, which is three years.  The fair value of each MSU granted was determined on the date of grant using the Monte Carlo simulation, which calculates the present value of the potential outcomes of future stock prices of the Company and the Indexes over the requisite service period.  The fair value is based on the risk-free rate of return, the volatility of the stock price of the Company and the Indexes, the correlation of the stock price of the Company with the Indexes, and the dividend yield.

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The fair values estimated from the Monte Carlo simulation were calculated using a dividend yield of zero and the following additional assumptions:  Fiscal Years EndedMarch 29,2025March 30,2024March 25,2023Expected stock price volatility39.34% - 41.61%34.53%35.18% - 46.50%Risk-free interest rate3.97% - 4.15%4.12%2.67% - 3.92%Expected term (in years)3.003.003.00Using the Monte Carlo simulation, the weighted average estimated fair value of the MSUs granted in fiscal year 2025 was $151.8.  A summary of the activity for MSUs in fiscal year 2025, 2024, and 2023 is presented below (in thousands, except per share amounts): SharesWeightedAverageFair ValueMarch 26, 202285 $95.75 Granted38 135.87 Vested(10)87.43 Forfeited(24)94.80 March 25, 202389 $113.83 Granted35 141.48 Vested(9)83.96 Forfeited(14)83.96 March 30, 2024101 $130.46 Granted59 151.80 Vested(47)109.18 Forfeited(9)128.36 March 29, 2025104 $152.23 The aggregate intrinsic value of MSUs outstanding as of March 29, 2025, March 30, 2024, and March 25, 2023 was $10.4 million, $9.4 million, and $9.3 million, respectively.  Intrinsic value is calculated using the closing