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MCT8316AEVM: What is the correct waveform of SOx from DAC2?

Part Number: MCT8316AEVM

Hi Team 

I'm monitoring SOx waveform form DAC2, and I have a question about the shape of it.

I expected waveform like fig 1 but I observe waveform like fig2. Is this correct?
I think that the amplitude will appear upper and lower side of  VREF.

In the document, I found system block of fig 3 (Figure 8-38). 
Is doing special current sensing?

By the way ISENx set as SOx in DACOUT2, right (see fig 4)?

fig 1.

fig 2.
※PWM in mixed modulation mode

fig3.

fig 4