Form 4: Ciena Corp Executive Sheela Kosaraju Reports Stock Transactions
SEC Form 4
Sheela Kosaraju, SVP, General Counsel of Ciena Corp, reports the withholding of shares to cover tax liabilities related to restricted stock unit (RSU) awards.
Summary
- On June 20, 2024, Sheela Kosaraju, SVP, General Counsel of Ciena Corporation, reported the withholding of shares to cover tax liabilities related to restricted stock unit (RSU) awards.
- The transactions involved the withholding of common stock at a price of $46.96 per share.
- A total of 2,310 shares were withheld across multiple RSU award agreements.
- Following these transactions, Kosaraju directly owns 86,739 shares of Ciena Corp common stock, which includes unvested Restricted Stock Units (RSUs).
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions related to tax obligations. It doesn't indicate positive or negative sentiment.
Industry Context
This is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies.
Comparison to Industry Standards
- Executive compensation practices, including the use of RSUs, are common across the technology industry.
- Companies like Cisco, Juniper Networks, and Nokia also utilize RSUs as part of their executive compensation packages.
- The withholding of shares to cover tax liabilities is a standard procedure in these types of equity compensation plans.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they relate to routine executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 09/08/2020 | Date of a restricted stock unit (RSU) award agreement related to withheld shares. |
| 12/16/2020 | Date of a restricted stock unit (RSU) award agreement related to withheld shares. |
| 12/14/2021 | Date of a restricted stock unit (RSU) award agreement related to withheld shares. |
| 12/13/2022 | Date of a restricted stock unit (RSU) award agreement related to withheld shares. |
| 02/01/2023 | Date of a restricted stock unit (RSU) award agreement related to withheld shares. |
| 02/03/2023 | Date of Form 3 and Form 4 filings referenced in the document. |
| 12/12/2023 | Date of a restricted stock unit (RSU) award agreement related to withheld shares. |
| 12/14/2023 | Date of Form 4 filing referenced in the document. |
| 06/20/2024 | Date of the reported stock transactions. |
| 06/21/2024 | Date of the report. |
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