Company: CRUS
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0000772406-25-000007
Chunk: 3

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Item 1A
Chunk 3
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— $224,147 October 27, 2024 - November 23, 2024610 $102.58 610 $161,604 November 24, 2024 - December 28, 202469 $108.53 69 $154,110 Total679 $103.18 679 $154,110 

(1) As of December 28, 2024, the Company has one active share repurchase authorization, the $500 million in share repurchases authorized by the Board of Directors in July 2022.  Share repurchases are to be funded from existing cash and intended to be effected from time to time in accordance with applicable securities laws through the open market, including pursuant to a Rule 10b5-1 trading plan, or in privately negotiated transactions.  The timing of repurchases and the actual amount purchased depend on a variety of factors including general market and economic conditions and other corporate considerations.  The authorization does not have an expiration date, does not obligate the Company to repurchase any particular amount of common stock, and may be modified or suspended at any time at the Company's discretion.  The Company's repurchases reflected in the table above were made in the open market and were funded from existing cash.  All shares of our common stock that were repurchased were retired as of December 28, 2024.   

The Company's net stock repurchases are subject to a 1 percent excise tax under the Inflation Reduction Act, which is included as a reduction to accumulated earnings in the Consolidated Condensed Statements of Stockholders' Equity.  Disclosure of repurchased amounts and related average costs exclude the impact of excise taxes.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4.  MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5.  OTHER INFORMATION

Trading Arrangements

None of our directors or Section 16 officers entered into, modified, or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement for the purchase or sale of Company securities during the third quarter of fiscal year 2025.

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ITEM 6.  EXHIBITS

The following exhibits are filed as part of or incorporated by reference into this Report:

NumberDescription3.1Amended and Restated Certificate of Incorporation of Registrant, filed with the Delaware Secretary of State on