Company: CRUS
Filing Date: 2025-05-23
Form Type: 10-K
Source: 0000772406-25-000014
Chunk: 103

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-05-23
Form: 10-K
Item: Item 8
Chunk 103
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 were $54.04, $39.61, and $42.37, respectively.During fiscal years 2025, 2024, and 2023, we received a net $15.4 million, $3.3 million, and $10.1 million, respectively, from the exercise of 0.3 million, 0.1 million, and 0.2 million, respectively, stock options granted under the Company’s Stock Plan.The total intrinsic value of stock options exercised during fiscal year 2025, 2024, and 2023, was $14.7 million, $2.8 million, and $11.4 million, respectively.  Intrinsic value represents the difference between the market value of the Company’s common stock at the time of exercise and the strike price of the stock option.

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Additional information with respect to stock option activity is as follows (in thousands, except per share amounts):  Outstanding OptionsNumberWeightedAverageExercise PriceBalance, March 26, 2022820 $57.75 Options granted143 96.33 Options exercised(225)45.10 Options forfeited(18)71.14 Options expired— — Balance, March 25, 2023720 $69.03 Options granted132 92.69 Options exercised(66)50.39 Options forfeited— — Options expired— — Balance, March 30, 2024786 $74.56 Options granted4 129.24 Options exercised(257)59.93 Options forfeited(29)91.26 Options expired— — Balance, March 29, 2025504 $81.53 Additional information with regards to outstanding options that are vesting, expected to vest, or exercisable as of March 29, 2025 is as follows (in thousands, except years and per share amounts): Number ofOptionsWeightedAverageExercise priceWeighted AverageRemaining ContractualTerm (years)AggregateIntrinsic ValueVested and expected to vest495 $81.27 6.63$9,404 Exercisable337 $74.72 5.87$8,497 In accordance with U.S. GAAP, stock options outstanding that are expected to vest are presented net of estimated future option forfeitures, which are estimated as compensation costs are recognized.  Options