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 units.
Summary
- On March 20, 2024, David Rothenstein, SVP and Chief Strategy Officer of Ciena Corp, disposed of common stock to cover tax liabilities.
- The transactions involved the withholding of shares related to restricted stock unit (RSU) award agreements.
- A total of 1,789 shares were disposed of at a price of $50.22 per share.
- Following the transactions, Rothenstein beneficially owns 228,211 shares of Ciena Corp common stock, including unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
Sentiment
Score: 5
Explanation: This is a routine transaction related to executive compensation and tax obligations, and does not indicate a positive or negative sentiment.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. The disposal of shares to cover tax liabilities upon vesting of restricted stock units is a common occurrence.
Key Dates
| Date | Description |
|---|---|
| 12/16/2020 | Date of restricted stock unit (RSU) award agreement related to the disposal of 344 shares. |
| 12/18/2020 | Date of Form 4 filing reporting acquisition of RSU award agreement dated 12/16/2020. |
| 12/14/2021 | Date of restricted stock unit (RSU) award agreement related to the disposal of 298 shares. |
| 12/16/2021 | Date of Form 4 filing reporting acquisition of RSU award agreement dated 12/14/2021. |
| 12/13/2022 | Date of restricted stock unit (RSU) award agreement related to the disposal of 460 shares. |
| 12/15/2022 | Date of Form 4 filing reporting acquisition of RSU award agreement dated 12/13/2022. |
| 12/12/2023 | Date of restricted stock unit (RSU) award agreement related to the disposal of 138 and 550 shares. |
| 12/14/2023 | Date of Form 4 filing reporting acquisition of RSU award agreement dated 12/12/2023. |
| 03/20/2024 | Date of transaction: disposal of shares to cover tax liabilities. |
| 03/21/2024 | Date of signature for the Form 4 filing. |
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