Cirrus Logic Shareholders Approve Incentive Plan as Fiscal 2026 Revenue Hits Record

Key Points

• Cirrus Logic shareholders approved all proposals at the 2026 annual meeting, including the election of seven directors, Ernst & Young’s ratification as fiscal 2027 auditor and executive compensation.
• Investors approved an amendment to the 2018 Long Term Incentive Plan, adding 3.5 million shares to the reserve and extending the plan through 2036.
• Cirrus Logic reported record fiscal 2026 revenue of $2 billion, up 5% year over year, with record GAAP EPS of $7.85 and non-GAAP EPS of $9.26, supported by smartphone, PC and mixed-signal growth.

Stockholders of Cirrus Logic NASDAQ: CRUS approved all proposals presented at the company’s 2026 annual meeting, including the election of seven directors, the ratification of Ernst & Young as its auditor and an amendment and restatement of its long-term incentive plan.

The virtual meeting had a quorum, with holders of approximately 45.95 million shares represented in person or by proxy, accounting for about 91% of the company’s voting power as of the June 1, 2026, record date. Approximately 50.45 million common shares were outstanding and eligible to vote as of that date.

Board Slate and Governance Proposals Approved

Stockholders elected all seven nominees to Cirrus Logic’s board for one-year terms. The directors elected were Alexander M. Davern, John M. Forsyth, Raghib Hussain, Zhiyong Li, Catherine T. Lego, William D. Mosley and David J. Tupman.

Stockholders also ratified the Audit Committee’s appointment of Ernst & Young as the company’s independent registered public accounting firm for fiscal 2027.

In addition, investors approved, on an advisory basis, the compensation of the company’s named executive officers. The advisory vote covered compensation disclosures included in the company’s proxy materials, including its compensation discussion and analysis, compensation tables and related narrative disclosures.

Incentive Plan Extended Through 2036

Shareholders approved an amendment and restatement of Cirrus Logic’s 2018 Long Term Incentive Plan. The revised plan increases the number of common shares reserved for issuance by 3.5 million shares and extends the plan’s term through 2036.

Michael Barrett, Cirrus Logic’s Deputy General Counsel and Corporate Secretary, said the amendment and restatement had been approved by the board on May 15, 2026. The changes became effective on the date of shareholder approval, according to the company.

Financial Reporting Manager Amy Garrett, acting as inspector of election, reported that each proposal received the vote required for approval under the company’s bylaws. Cirrus Logic said final voting results, including shares voted during the meeting, will be filed with the Securities and Exchange Commission on Form 8-K.

Fiscal 2026 Revenue and Earnings Reach Records

Following the formal meeting, Chief Executive Officer and Director John Forsyth said Cirrus Logic generated record revenue of $2 billion in fiscal 2026, up 5% from the prior year. The company also reported record fiscal-year GAAP earnings per share of $7.85 and non-GAAP earnings per share of $9.26.

Forsyth said the company’s growth strategy remains centered on three priorities:

• Maintaining leadership in smartphone audio;
• Increasing high-performance mixed-signal, or HPMS, content in smartphones; and
• Using its audio and HPMS expertise and intellectual property to expand into additional applications and markets.

In smartphone audio, Forsyth cited robust demand for Cirrus Logic’s latest custom boosted amplifier and 22-nanometer smart codec. He also pointed to strong demand for camera controllers in the company’s HPMS portfolio and ongoing engagement with a customer on next-generation components intended to provide further feature and performance enhancements.

The company invested in intellectual property and capabilities for advanced battery and power applications, validated new technologies in silicon, and began designing a smart power integrated circuit for 3D sensing, Forsyth said.

Outside smartphones, Cirrus Logic recorded strong year-over-year revenue growth in PCs, driven largely by share gains across all segments, according to Forsyth. The company also introduced multiple product families targeting professional audio, automotive, industrial and imaging markets.

Cirrus Logic plans to report first-quarter fiscal 2027 results and its business outlook through a webcast at approximately 5 p.m. Eastern time on Aug. 5, 2026.

About Cirrus Logic (NASDAQ:CRUS)

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company's product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.