Form 4: Ciena Corp VP, Controller Andrew Petrik Reports Stock Disposals to Cover Tax Obligations
SEC Form 4
Andrew Petrik, VP and Controller of Ciena Corp, reported the disposal of common stock to cover tax liabilities related to restricted stock unit (RSU) awards.
Summary
- On September 20, 2024, Andrew Petrik, VP and Controller of Ciena Corp, disposed of shares of common stock to cover tax liabilities related to previously granted restricted stock units (RSUs).
- The transactions involved the disposal of 74 shares, 115 shares, 120 shares, and 53 shares at a price of $58.73 per share.
- These disposals were related to RSU awards granted on December 16, 2020, December 13, 2022, December 12, 2023 and December 14, 2021 respectively.
- Following these transactions, Petrik beneficially owns 30,310 shares of Ciena Corp, including unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions related to tax obligations. It doesn't indicate positive or negative sentiment about the company's performance.
Industry Context
This is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies.
Stakeholder Impact
- The disposal of shares by a company executive could have a minor negative impact on shareholder sentiment, but is unlikely to be significant as it is related to tax obligations.
Key Dates
| Date | Description |
|---|---|
| 12/16/2020 | Date of restricted stock unit (RSU) award agreement related to the disposal of 74 shares. |
| 12/14/2021 | Date of restricted stock unit (RSU) award agreement related to the disposal of 53 shares. |
| 12/13/2022 | Date of restricted stock unit (RSU) award agreement related to the disposal of 115 shares. |
| 12/12/2023 | Date of restricted stock unit (RSU) award agreement related to the disposal of 120 shares. |
| 09/20/2024 | Date of transaction: Disposal of shares to cover tax liabilities. |
| 09/23/2024 | Date of signature for the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.