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 $44.7976 under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On April 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 $44.7976, with individual transactions ranging from $44.31 to $45.355.
• The transaction was conducted under a pre-existing Rule 10b5-1 trading plan established on March 11, 2023.
• Following the reported transaction, Smith directly owns 385,109 shares of Ciena's common stock, including unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale by an executive. It doesn't inherently convey positive or negative sentiment.

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 allows insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• The stock sale could have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply.

Key Dates