Form 4: Ciena CEO Gary B Smith Sells Shares Under 10b5-1 Trading Plan

Ciena's CEO, Gary B Smith, sold 4,166 shares of common stock on May 15, 2024, at an average price of $49.1621, according to a pre-arranged Rule 10b5-1 trading plan.

Summary

• On May 15, 2024, Gary B Smith, the President and CEO of Ciena Corporation, sold 4,166 shares of Ciena's common stock.
• The sale was executed at a weighted average price of $49.1621 per share, with individual transactions ranging from $48.63 to $49.45.
• The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan established on March 11, 2023.
• Following the sale, Smith directly owns 376,777 shares of Ciena's common stock, including unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a routine sale under a pre-arranged trading plan and doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Sales by executives are a normal part of corporate governance. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on any inside information.

Stakeholder Impact

• The sale of shares by the CEO could have a minor negative impact on shareholder sentiment, although the use of a 10b5-1 plan mitigates this concern.

Key Dates