Form 4: Ciena Executive Chairman Patrick Nettles Reports Stock Transaction
SEC Form 4
Patrick Nettles, Executive Chairman of Ciena Corp, reports disposition of shares to cover tax liabilities related to a restricted stock unit award.
Summary
- On March 30, 2024, Patrick H Nettles, the Executive Chairman of Ciena Corporation, disposed of 1,218 shares of common stock to cover tax liabilities related to a restricted stock unit (RSU) award.
- The transaction was executed at a price of $49.45 per share.
- Following the transaction, Nettles beneficially owns 166,896 shares of Ciena common stock, including unvested Restricted Stock Units (RSUs).
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a routine stock transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a small number of shares being disposed of by an executive to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/30/2023 | Date of the restricted stock unit (RSU) award agreement. |
| 04/03/2023 | Previous report of RSU acquisition on Form 4. |
| 03/30/2024 | Date of the stock transaction (disposal of shares). |
| 04/01/2024 | Date of signature on the Form 4 report. |
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