Form 4: Ciena CFO James Moylan Jr. Reports Stock Disposals for Tax Obligations
SEC Form 4
James Moylan Jr., CFO of Ciena Corp, reported the disposal of common stock to cover tax liabilities related to restricted stock unit (RSU) awards.
Summary
- On June 20, 2024, James Moylan Jr., the SVP Finance and CFO of Ciena Corporation, reported disposing of shares of Ciena's common stock to cover tax liabilities.
- These disposals were related to restricted stock unit (RSU) awards granted on December 16, 2020, December 13, 2022, December 12, 2023, and December 14, 2021.
- A total of 370, 709, 890, and 311 shares were disposed of at a price of $46.96 per share to cover these tax obligations.
- Following these transactions, Moylan directly owns 274,050 shares of Ciena common stock, which includes unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
- Additionally, 108,043 shares are held indirectly through a spousal trust, for which Moylan disclaims beneficial ownership.
Sentiment
Score: 6
Explanation: The document is a routine SEC filing related to stock disposals for tax purposes. It doesn't indicate any significant positive or negative sentiment regarding the company's performance or future prospects.
Industry Context
Executive stock transactions are a normal part of corporate governance. Disposals to cover tax obligations are common and don't necessarily reflect a negative outlook on the company.
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 agreement 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 agreement dated 12/14/2021. |
| 12/13/2022 | Date of restricted stock unit (RSU) award agreement related to the disposal of 709 shares. |
| 12/15/2022 | Date of Form 4 filing reporting the acquisition of the RSU award agreement dated 12/13/2022. |
| 12/12/2023 | Date of restricted stock unit (RSU) award agreement related to the disposal of 890 shares. |
| 12/14/2023 | Date of Form 4 filing reporting the acquisition of the RSU award agreement dated 12/12/2023. |
| 06/20/2024 | Date of the reported transactions where shares were disposed of to cover tax liabilities. |
| 06/21/2024 | Date of signature for the Form 4 filing. |
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