Form 4: Ciena Corp VP, Controller Andrew C Petrik Reports Tax Liability Share Withholding
SEC Form 4
Andrew C Petrik, VP, Controller of Ciena Corp, reports the withholding of shares to cover tax liabilities related to restricted stock units.
Summary
- On March 20, 2024, Andrew C Petrik, VP, Controller of Ciena Corp, reported the withholding of common stock shares to cover tax liabilities.
- A total of 362 shares were withheld at a price of $50.22 per share.
- These shares were related to restricted stock unit (RSU) awards granted on December 16, 2020, December 14, 2021, December 13, 2022, and December 12, 2023.
- Following the transactions, Petrik beneficially owns 31,034 shares of Ciena Corp common stock, including unvested RSUs and Performance Stock Units (PSUs).
Sentiment
Score: 5
Explanation: This is a neutral report on routine tax-related transactions; it doesn't indicate positive or negative sentiment.
Industry Context
This is a routine Form 4 filing related to executive compensation and tax obligations, common in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| 12/16/2020 | Date of restricted stock unit (RSU) award agreement related to share withholding. |
| 12/18/2020 | Date of Form 4 filing reporting acquisition of RSU. |
| 12/14/2021 | Date of restricted stock unit (RSU) award agreement related to share withholding. |
| 12/16/2021 | Date of Form 4 filing reporting acquisition of RSU. |
| 12/13/2022 | Date of restricted stock unit (RSU) award agreement related to share withholding. |
| 12/15/2022 | Date of Form 4 filing reporting acquisition of RSU. |
| 12/12/2023 | Date of restricted stock unit (RSU) award agreement related to share withholding. |
| 12/14/2023 | Date of Form 4 filing reporting acquisition of RSU. |
| 03/20/2024 | Date of transaction: shares withheld to cover tax liabilities. |
| 03/21/2024 | Date of signature for the Form 4 filing. |
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