Form 4: Ciena Corp SVP, General Counsel 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, resulting in a decreased beneficial ownership.
Summary
- On March 20, 2024, Sheela Kosaraju, SVP, General Counsel of Ciena Corporation, reported transactions involving common stock.
- The transactions involved the withholding of shares to cover tax liabilities related to restricted stock unit (RSU) award agreements.
- The shares were withheld at a price of $50.22 per share.
- Following the reported transactions, Kosaraju's beneficial ownership of Ciena Corp common stock decreased to 89,049 shares.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions related to tax obligations, with no inherent positive or negative implications for the company's performance or outlook.
Negatives
- Sheela Kosaraju's beneficial ownership of Ciena Corp common stock decreased as a result of shares being withheld for tax liabilities.
Industry Context
This is a routine Form 4 filing, reflecting standard executive compensation practices involving stock-based awards and tax obligations.
Stakeholder Impact
- The transactions have a minimal impact on shareholders, as they relate to an individual executive's tax obligations and do not reflect a change in the company's fundamentals.
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 Sheela Kosaraju's Form 3 was filed. |
| 12/12/2023 | Date of a restricted stock unit (RSU) award agreement related to withheld shares. |
| 12/14/2023 | Date Sheela Kosaraju's Form 4 was filed. |
| 03/20/2024 | Date of the reported stock transactions (shares withheld for tax liabilities). |
| 03/21/2024 | Date of the report. |
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