Form 4: Ciena CFO James E. Moylan Jr. Reports Tax-Related Stock Disposals

James E. Moylan Jr., CFO of Ciena Corp, reports disposals of common stock to cover tax liabilities related to previously awarded stock units, with no change in his overall beneficial ownership.

Summary

• On December 20, 2024, James E. Moylan Jr., the SVP Finance and CFO of Ciena Corp, reported the disposal of Ciena common stock to cover tax liabilities.
• These disposals were related to the vesting of restricted stock units (RSUs), market stock units (MSUs), and performance stock units (PSUs) previously awarded to Moylan.
• The transactions involved the withholding of shares at a price of $87.38 per share.
• A total of 9,062 shares were disposed of to cover these tax obligations.
• Following these transactions, Moylan directly owns 233,097 shares of Ciena common stock and indirectly owns 152,120 shares through a spousal trust.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document simply reports routine stock disposals for tax purposes, which is a normal part of executive compensation. There is no indication of positive or negative implications for the company's performance.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies, often related to compensation packages and tax planning. The disposals reported here are typical for executives receiving stock-based compensation.

Comparison to Industry Standards

• Executive compensation packages often include stock options, restricted stock units, and performance-based equity awards.
• Similar to executives at companies like Cisco, Juniper Networks, and Nokia, Ciena's executives receive stock-based compensation as part of their overall remuneration.
• The practice of withholding shares to cover tax liabilities is a standard procedure across the industry.

Key Dates