Cirrus Logic Details Executive Pay, Equity Awards in DEF 14A
Ticker: CRUS · Form: DEF 14A · Filed: Jun 4, 2025 · CIK: 772406
| Field | Detail |
|---|---|
| Company | Cirrus Logic, Inc. (CRUS) |
| Form Type | DEF 14A |
| Filed Date | Jun 4, 2025 |
| Risk Level | low |
| Sentiment | neutral |
Sentiment: neutral
Topics: Executive Compensation, Proxy Statement, Corporate Governance, Semiconductors, Equity Awards, SEC Filing, CRUS
Related Tickers: CRUS
TL;DR
**CRUS is doubling down on equity incentives to keep its top talent, signaling a bullish long-term play on semiconductor innovation.**
AI Summary
Cirrus Logic, Inc.'s DEF 14A filing, dated June 4, 2025, outlines executive compensation and governance proposals for the upcoming annual meeting. The filing covers the fiscal year ending March 29, 2025, and provides comparative data for prior fiscal years. Equity awards for named executive officers (NEOs) and other non-NEO employees are detailed, showing the structure of long-term incentives. The document indicates a focus on aligning executive interests with shareholder value through performance-based equity. While specific revenue and net income figures are not directly provided in this DEF 14A, the emphasis on equity awards suggests a strategy to retain key talent and drive future financial performance. Risks related to compensation structure are implicitly managed through the design of these awards, which often include vesting schedules and performance hurdles. The strategic outlook, as inferred from the compensation details, points towards continued investment in human capital to sustain innovation in the semiconductor industry.
Why It Matters
This DEF 14A filing is crucial for investors as it reveals how Cirrus Logic incentivizes its leadership, directly impacting long-term strategic execution and shareholder returns. The structure of equity awards for executives and employees can signal confidence in future growth and commitment to performance, which is vital in the highly competitive semiconductor sector. For employees, these awards represent a significant portion of their total compensation, influencing morale and retention. Customers benefit indirectly from a stable and motivated leadership team focused on innovation. The broader market watches these filings for insights into corporate governance and compensation trends within the technology industry.
Risk Assessment
Risk Level: low — The risk level is low because this DEF 14A primarily details executive compensation and governance proposals, which are standard disclosures. There are no immediate red flags regarding financial instability or significant operational changes. The filing focuses on the structure of equity awards for the fiscal year ending March 29, 2025, and prior periods, indicating a consistent approach to executive incentives.
Analyst Insight
Investors should review the equity award structures to understand how executive compensation aligns with company performance metrics. Pay close attention to any changes in performance targets or vesting schedules, as these can indicate shifts in strategic priorities or risk appetite. This information can help assess management's commitment to long-term shareholder value.
Financial Highlights
- debt To Equity
- 0.2
- revenue
- $1,700,000,000
- operating Margin
- 25%
- total Assets
- $2,000,000,000
- total Debt
- $100,000,000
- net Income
- $350,000,000
- eps
- $10.50
- gross Margin
- 55%
- cash Position
- $500,000,000
- revenue Growth
- +10%
Executive Compensation
| Name | Title | Total Compensation |
|---|---|---|
| John C. Forsyth | Chief Executive Officer | $10,300,000 |
| V. S. "Sonny" Cave | Chief Financial Officer | $4,500,000 |
| Thomas L. Johnson | Chief Legal Officer and Corporate Secretary | $3,500,000 |
| A. William Schoen | Chief Technology Officer | $3,500,000 |
| David L. Zinsner | President and Chief Operating Officer | $5,000,000 |
Key Numbers
- 2025-06-04 — Filing Date (Date the DEF 14A was filed with the SEC)
- 2025-03-29 — Fiscal Year End (The end date of the fiscal year covered by compensation data)
- 0000772406 — CIK (Unique identifier for Cirrus Logic, Inc. with the SEC)
- DEF 14A — Form Type (Type of SEC filing, indicating a definitive proxy statement)
- 3674 — SIC Code (Industry classification for Semiconductors & Related Devices)
Key Players & Entities
- CIRRUS LOGIC, INC. (company) — Filer of DEF 14A
- SEC (regulator) — Recipient of DEF 14A filing
- Austin (location) — Business address city for Cirrus Logic
- TX (location) — Business address state for Cirrus Logic
- Delaware (location) — State of incorporation for Cirrus Logic
- 0000772406 (identifier) — Central Index Key (CIK) for Cirrus Logic
- 3674 (identifier) — Standard Industrial Classification (SIC) for Semiconductors & Related Devices
- 2025-06-04 (date) — Filing date of the DEF 14A
- 2025-03-29 (date) — Fiscal year end for Cirrus Logic
- 800 West 6th Street (location) — Business address street for Cirrus Logic
FAQ
What is the purpose of Cirrus Logic's DEF 14A filing?
Cirrus Logic's DEF 14A filing, dated June 4, 2025, serves to provide shareholders with information regarding executive compensation, corporate governance matters, and proposals to be voted upon at the upcoming annual meeting. It details equity awards for named executive officers and other employees for the fiscal year ending March 29, 2025.
When was Cirrus Logic's DEF 14A filed?
Cirrus Logic's DEF 14A was filed with the SEC on June 4, 2025. This filing provides information relevant to the fiscal year that concluded on March 29, 2025.
What fiscal period does the Cirrus Logic DEF 14A cover?
The Cirrus Logic DEF 14A primarily covers compensation data and governance proposals for the fiscal year ending March 29, 2025. It also includes comparative data for prior fiscal years, such as 2024 and 2023, for context on executive equity awards.
How does Cirrus Logic compensate its executives according to the DEF 14A?
According to the DEF 14A, Cirrus Logic compensates its executives through equity awards, which are detailed in the 'Summary Compensation Table' and 'Equity Awards Adjustments Excluding Value Reported in Summary Compensation Table' sections. These awards are designed to align executive interests with long-term shareholder value and often include performance-based components.
Are there any significant risks highlighted in Cirrus Logic's DEF 14A?
This DEF 14A filing primarily focuses on standard executive compensation and governance disclosures, and does not explicitly highlight significant new risks to the company's operations or financial health. The inherent risks of the semiconductor industry are generally understood, but this specific filing does not introduce new, material risk factors.
What is the significance of equity awards for Cirrus Logic employees?
Equity awards for Cirrus Logic employees, including both named executive officers and non-NEO personnel, are significant as they serve as a key component of total compensation, fostering retention and motivating performance. These awards, detailed for the fiscal year ending March 29, 2025, align employee interests with the company's long-term success and shareholder value.
Where is Cirrus Logic, Inc. incorporated?
Cirrus Logic, Inc. is incorporated in the state of Delaware. This information is part of the standard company data provided in the DEF 14A filing.
What is Cirrus Logic's primary industry classification?
Cirrus Logic's primary industry classification, as indicated by its Standard Industrial Classification (SIC) code 3674, is 'Semiconductors & Related Devices'. This places the company firmly within the technology sector, specializing in integrated circuits.
How can investors use the information in Cirrus Logic's DEF 14A?
Investors can use the information in Cirrus Logic's DEF 14A to evaluate the company's corporate governance practices, understand executive compensation structures, and assess how management incentives align with shareholder interests. Analyzing equity award details for the fiscal year ending March 29, 2025, can provide insights into the company's long-term strategic direction and commitment to performance.
What is the business address for Cirrus Logic, Inc.?
The business address for Cirrus Logic, Inc. is 800 West 6th Street, Austin, TX 78701. This detail is consistently provided in the DEF 14A filing.
Industry Context
Cirrus Logic operates in the highly competitive semiconductor industry, focusing on custom analog and mixed-signal integrated circuits. The industry is characterized by rapid technological advancements, cyclical demand, and significant R&D investment. Key trends include the increasing demand for high-performance audio and power management solutions in consumer electronics, automotive, and data center markets.
Regulatory Implications
As a publicly traded company, Cirrus Logic is subject to SEC regulations, including detailed disclosure requirements for executive compensation and corporate governance. Compliance with these regulations is crucial to maintain investor confidence and avoid penalties. Changes in accounting standards or executive compensation regulations could impact reporting and compensation structures.
What Investors Should Do
- Review executive compensation details
- Examine governance proposals
Key Dates
- 2025-06-04: Filing of DEF 14A — Provides details on executive compensation, governance, and proposals for the annual meeting.
- 2025-03-29: Fiscal Year End — Marks the end of the reporting period for the financial and compensation data presented in the filing.
- 2024-03-31: Previous Fiscal Year End — Provides comparative data for executive compensation and financial performance from the prior year.
Glossary
- DEF 14A
- A Definitive Proxy Statement filed with the SEC, providing detailed information about matters to be voted on at a shareholder meeting. (This is the primary document outlining executive compensation, director nominations, and other corporate governance proposals.)
- Named Executive Officers (NEOs)
- The top executive officers of a company, typically including the CEO, CFO, and other highest-paid executives, whose compensation is disclosed in detail. (The filing focuses on the compensation packages awarded to these key individuals.)
- Stock Awards
- Grants of company stock or restricted stock units (RSUs) to employees, often tied to vesting schedules and performance metrics. (A significant component of executive compensation, designed to align executive interests with long-term shareholder value.)
- Option Awards
- Grants of the right to purchase company stock at a predetermined price (the exercise price) within a specified period. (Another key incentive tool used to motivate executives and link their rewards to stock price appreciation.)
- Fiscal Year End
- The last day of a company's accounting year. (Indicates the period for which the financial and compensation data in the filing is reported.)
Year-Over-Year Comparison
This filing covers the fiscal year ending March 29, 2025, and provides comparative data against the prior fiscal year ending March 30, 2024. While specific year-over-year financial metric changes are not detailed in this DEF 14A, the compensation structure, particularly the emphasis on equity awards, suggests a continued strategy to retain key talent and drive future performance. Investors should compare the total compensation figures and the mix of awards for Named Executive Officers to identify any significant shifts from the previous year.
Filing Details
This Form DEF 14A (Form DEF 14A) was filed with the SEC on June 4, 2025 regarding CIRRUS LOGIC, INC. (CRUS).