Form 4: Ciena Corp Executive David M Rothenstein Reports Stock Transactions
SEC Form 4
David M Rothenstein, SVP and Chief Strategy Officer at Ciena Corp, reported the withholding of shares to cover tax liabilities related to various stock unit awards.
Summary
- David M Rothenstein, a Senior Vice President and Chief Strategy Officer at Ciena Corp, filed a Form 4 detailing changes in his beneficial ownership of company stock.
- The transactions involved the withholding of shares to cover tax liabilities associated with previously granted restricted stock units (RSUs), market stock units (MSUs), and performance stock units (PSUs).
- These transactions occurred on December 20, 2024, with share prices at $87.38.
- A total of 8,123 shares were withheld across multiple transactions related to different award agreements.
- Following these transactions, Rothenstein's direct ownership of Ciena Corp common stock decreased to 211,612 shares.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions by an executive, which is neither positive nor negative for the company's outlook.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice in publicly traded companies. It does not indicate any specific trend or event within the telecommunications industry.
Comparison to Industry Standards
- Executive stock transactions are a common occurrence in publicly traded companies, and this filing is consistent with standard reporting practices.
- Companies like Juniper Networks, Nokia, and Ericsson also have executives who regularly report similar transactions.
- The withholding of shares for tax purposes is a standard practice when executives receive stock-based compensation.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to executive compensation and tax obligations.
- The transactions do not directly affect employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 12/16/2020 | Date of a restricted stock unit (RSU) award agreement related to some of the transactions. |
| 12/14/2021 | Date of a restricted stock unit (RSU) and market stock unit (MSU) award agreement related to some of the transactions. |
| 12/13/2022 | Date of a restricted stock unit (RSU) and performance stock unit (PSU) award agreement related to some of the transactions. |
| 12/12/2023 | Date of a restricted stock unit (RSU) and performance stock unit (PSU) award agreement related to some of the transactions. |
| 12/20/2024 | Date of the reported stock transactions. |
| 12/23/2024 | Date of the Form 4 filing. |
Keywords
Form 4, Ciena Corp, David M Rothenstein, Stock Transactions, Beneficial Ownership, Restricted Stock Units, Performance Stock Units, Tax Liabilities, Share Withholding
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