Form 4: Ciena Corp Executive David Rothenstein Disposes of Shares to Cover Tax Obligations
SEC Form 4
David Rothenstein, SVP and Chief Strategy Officer of Ciena Corp, disposed of shares to cover tax liabilities related to restricted stock unit (RSU) award agreements.
Summary
- On September 20, 2024, David Rothenstein, SVP and Chief Strategy Officer of Ciena Corp, disposed of a total of 1,927 shares of common stock to cover tax liabilities.
- The shares were withheld to cover payment of tax liabilities related to restricted stock unit (RSU) award agreements dated December 16, 2020, December 13, 2022, December 12, 2023 and December 14, 2021.
- The price per share for these transactions was $58.73.
- Following these transactions, Rothenstein directly owns 203,497 shares of Ciena Corp, which includes unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
Sentiment
Score: 5
Explanation: This is a neutral event. It reflects routine transactions related to executive compensation and tax obligations.
Industry Context
This is a routine Form 4 filing, reflecting insider transactions related to equity compensation. It's common for executives to dispose of shares to cover tax obligations arising from the vesting of restricted stock units.
Stakeholder Impact
- The disposal of shares by an executive could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect.
Key Dates
| Date | Description |
|---|---|
| 12/16/2020 | Date of restricted stock unit (RSU) award agreement related to share withholding. |
| 12/18/2020 | Date of Form 4 filing reporting acquisition of RSU. |
| 12/14/2021 | Date of restricted stock unit (RSU) award agreement related to share withholding. |
| 12/16/2021 | Date of Form 4 filing reporting acquisition of RSU. |
| 12/13/2022 | Date of restricted stock unit (RSU) award agreement related to share withholding. |
| 12/15/2022 | Date of Form 4 filing reporting acquisition of RSU. |
| 12/12/2023 | Date of restricted stock unit (RSU) award agreement related to share withholding. |
| 12/14/2023 | Date of Form 4 filing reporting acquisition of RSU. |
| 09/20/2024 | Date of transaction: Disposal of shares to cover tax liabilities. |
| 09/23/2024 | Date of signature for the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.