Company: CRUS
Filing Date: 2025-06-04
Form Type: DEF 14A
Source: 0000772406-25-000019
Chunk: 38

Company: CIRRUS LOGIC, INC.
Filing Date: 2025-06-04
Form: DEF 14A
Chunk 38
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 In fiscal year 2025, we repurchased 2.3 million shares at an average price of $112.33 per share.

1 Mr. Woolard was appointed as our CFO effective February 24, 2025, a little more than one month prior to the end of fiscal year 2025.

2 Mr. Habermann was appointed as our Interim CFO effective May 24, 2024, and served in that role through February 24, 2025, the date Mr. Woolard became CFO. Following that transition, Mr. Habermann now serves as our Principal Accounting Officer, Treasurer, and Senior Vice President of Finance.

3 During fiscal year 2025, Mr. Nathamuni served as our CFO for approximately two months. He resigned from the Company on May 24, 2024, at which point Mr. Habermann was appointed as Interim CFO.

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• Company Strategy . In the past fiscal year, we remained committed to a three-pronged strategy: first, maintaining leadership in our core smartphone audio business; second, expanding in areas of high-performance mixed-signal (“HPMS”) functionality in smartphones; and third, leveraging both our audio and HPMS capabilities to drive penetration of new markets.

Executive Compensation Highlights

• Base Salaries . Fiscal year 2025 base salaries for our NEOs were set as part of the fiscal year 2024 review of executive compensation discussed in our proxy statement of last year, except for the base salaries of Mr. Woolard and Mr. Habermann. Mr. Habermann’s base salary was adjusted separately in connection with his appointment as Interim CFO and his transition from Interim CFO to his current role upon the start date of Mr. Woolard as CFO. Mr. Woolard’s compensation was set separately as part of a new-hire compensation analysis. Effective fiscal year 2026, as a result of a compensation analysis performed in the fourth quarter of fiscal year 2025, the Compensation Committee raised annual base salaries of our NEOs (except for Mr. Woolard and Mr. Habermann) by 3% based on factors discussed herein, including typical annual market adjustments.

• Equity Grants . Based on its fourth-quarter compensation analysis, the Compensation Committee approved grants of (1) restricted stock units (“RSUs”), (2) performance-based restricted stock units now referred to as Market Stock Units (“MSUs”), and (3) new performance-based restricted stock units termed Performance Stock Units (“PSUs”) to our NEOs. Mr