Form 4: Ciena CEO Gary B Smith Disposes of Shares to Cover Tax Obligations

Gary B Smith, CEO of Ciena Corp, disposed of shares to cover tax liabilities related to previously reported restricted stock unit (RSU) awards.

Summary

• On March 20, 2025, Gary B Smith, the President and CEO of Ciena Corp, disposed of common stock to cover tax liabilities.
• These dispositions were related to restricted stock unit (RSU) award agreements from December 2021, December 2022, December 2023, and December 2024.
• The shares were withheld at a price of $65.63 per share.
• A total of 9,269 shares were disposed of to cover these tax obligations.
• Following these transactions, Smith beneficially owns 382,480 shares of Ciena Corp.
• The reported shares include unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).

Sentiment

Score: 5

Explanation: This is a routine transaction related to executive compensation and tax obligations, and does not indicate a positive or negative outlook for the company.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies, often related to compensation and tax planning. The disposal of shares to cover tax liabilities upon vesting of restricted stock units is a standard practice.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units (RSUs) as a form of long-term incentive.
• Similar to executives at companies like Cisco, Juniper Networks, and Nokia, Ciena's CEO receives RSUs as part of their compensation.
• The practice of selling shares to cover tax obligations upon vesting is a common strategy employed by executives across various industries to manage their tax liabilities effectively.

Key Dates

Keywords

Form 4, Ciena, Gary B Smith, CIEN, Stock Disposal, Tax Liabilities, RSU, CEO