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

Ciena's CEO, Gary B. Smith, executed a sale of 4,166 shares of common stock at an average price of $46.6552 on May 1, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On May 1, 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 $46.6552 per share, with individual transactions ranging from $46.04 to $47.32.
• The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan established on March 11, 2023.
• Following the transaction, Smith directly owns 380,943 shares of Ciena common stock, including unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).

Sentiment

Score: 5

Explanation: The document is neutral as it simply reports a stock sale under a pre-existing trading plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Executive stock sales are a common occurrence and are often pre-planned to avoid accusations of insider trading. The use of a 10b5-1 plan suggests the sale was planned well in advance.

Stakeholder Impact

• The stock sale could have a minor negative impact on shareholder sentiment, although the use of a 10b5-1 plan mitigates concerns about insider information.

Key Dates