Form 4: Ciena Corp SVP Joseph Cumello Reports Stock Disposals to Cover Tax Obligations
SEC Form 4
Joseph Cumello, SVP and General Manager of Blue Planet at Ciena Corp, reported the disposal of common stock to cover tax liabilities related to restricted stock unit (RSU) award agreements.
Summary
- On September 20, 2024, Joseph Cumello, SVP, General Manager Blue Planet at Ciena Corp, disposed of shares of common stock to cover tax liabilities.
- The disposals were related to restricted stock unit (RSU) award agreements.
- The price per share for the disposals was $58.73.
- The total number of shares disposed of was 1,332.
- Following the transactions, Cumello beneficially owns 42,064 shares of Ciena Corp common stock, which includes unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing relates to routine stock disposals for tax purposes. It doesn't indicate a change in the executive's confidence in the company.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. Disposals to cover tax obligations are common and don't necessarily reflect a negative outlook on the company.
Key Dates
| Date | Description |
|---|---|
| 12/16/2020 | Date of a restricted stock unit (RSU) award agreement related to share withholding. |
| 10/01/2020 | Date of a restricted stock unit (RSU) award agreement related to share withholding. |
| 02/03/2023 | Date of reporting person's Form 3 filing. |
| 12/13/2022 | Date of a restricted stock unit (RSU) award agreement related to share withholding. |
| 02/01/2023 | Date of a restricted stock unit (RSU) award agreement related to share withholding. |
| 02/03/2023 | Date of reporting person's Form 4 filing. |
| 12/12/2023 | Date of a restricted stock unit (RSU) award agreement related to share withholding. |
| 12/14/2023 | Date of reporting person's Form 4 filing. |
| 12/14/2021 | Date of a restricted stock unit (RSU) award agreement related to share withholding. |
| 09/20/2024 | Date of the reported transactions (stock disposals). |
| 09/23/2024 | Date of signature on the Form 4. |
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