Form 4: Ciena CFO James E. Moylan Jr. Reports Tax-Related Stock Disposals
SEC Form 4
James E. Moylan Jr., CFO of Ciena Corp, reports the disposal of shares to cover tax liabilities related to restricted stock unit (RSU) awards.
Summary
- On March 20, 2024, James E. Moylan Jr., the SVP Finance and CFO of Ciena Corp, reported the disposal of common stock to cover tax liabilities.
- The transactions involved the withholding of shares related to RSU awards granted on December 16, 2020, December 14, 2021, December 13, 2022, and December 12, 2023.
- A total of 370, 311, 570, and 592 shares were disposed of at a price of $50.22 per share.
- Following these transactions, Moylan directly owns 276,330 shares of Ciena common stock and indirectly owns 108,043 shares through a spousal trust.
Sentiment
Score: 7
Explanation: The document reflects routine transactions related to executive compensation and tax obligations, which are neutral events from an investment perspective.
Industry Context
This is a routine transaction; executives often sell shares to cover tax obligations when RSUs vest.
Key Dates
| Date | Description |
|---|---|
| 12/16/2020 | Date of restricted stock unit (RSU) award agreement related to the disposal of 370 shares. |
| 12/18/2020 | Date of Form 4 filing reporting the acquisition of the RSU award dated 12/16/2020. |
| 12/14/2021 | Date of restricted stock unit (RSU) award agreement related to the disposal of 311 shares. |
| 12/16/2021 | Date of Form 4 filing reporting the acquisition of the RSU award dated 12/14/2021. |
| 12/13/2022 | Date of restricted stock unit (RSU) award agreement related to the disposal of 570 shares. |
| 12/15/2022 | Date of Form 4 filing reporting the acquisition of the RSU award dated 12/13/2022. |
| 12/12/2023 | Date of restricted stock unit (RSU) award agreement related to the disposal of 592 shares. |
| 12/14/2023 | Date of Form 4 filing reporting the acquisition of the RSU award dated 12/12/2023. |
| 03/20/2024 | Date of the reported transactions involving the disposal of shares to cover tax liabilities. |
| 03/21/2024 | Date of signature for the Form 4 filing. |
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