Form 4: Ciena Corp Executive Jason Phipps Reports Stock Disposals to Cover Tax Obligations
SEC Form 4
Jason Phipps, SVP Global Sales and Marketing at Ciena Corp, reported disposing of shares to cover tax liabilities related to restricted stock unit (RSU) awards.
Summary
- Jason Phipps, SVP Global Sales and Marketing at Ciena Corp, filed a Form 4 detailing changes in beneficial ownership.
- On June 20, 2024, Phipps disposed of shares of common stock to cover tax liabilities related to previously granted restricted stock units (RSUs).
- A total of 2,141 shares were disposed of at a price of $46.96 per share.
- The disposals were related to RSU awards granted on December 16, 2020, December 13, 2022, December 12, 2023, and December 14, 2021.
- Following the transactions, Phipps beneficially owns 98,712 shares of Ciena Corp common stock, including unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to stock transactions for tax purposes, indicating a neutral sentiment.
Industry Context
Executive stock transactions are a common occurrence and are often related to compensation and tax planning. The disposal of shares to cover tax liabilities is a routine practice.
Stakeholder Impact
- The stock disposal may have a minor impact on shareholders due to the small number of shares involved.
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 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 326 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 576 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 869 shares. |
| 12/14/2023 | Date of Form 4 filing reporting acquisition of RSU award agreement dated 12/12/2023. |
| 06/20/2024 | Date of stock disposal to cover tax liabilities. |
| 06/21/2024 | Date of Form 4 filing. |
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