Form 4: Ciena Executive David Rothenstein Disposes of Shares to Cover Tax Obligations
SEC Form 4
David Rothenstein, SVP and Chief Strategy Officer of Ciena Corp, disposed of shares to cover tax liabilities related to restricted stock unit (RSU) awards.
Summary
- On June 20, 2024, David M Rothenstein, SVP and Chief Strategy Officer of Ciena Corporation, disposed of Ciena common stock to cover tax liabilities.
- The transactions involved the withholding of shares related to RSU awards granted on December 16, 2020, December 13, 2022, December 12, 2023, and December 14, 2021.
- A total of 1,789 shares were disposed of at a price of $46.96 per share.
- Following the transactions, Rothenstein beneficially owns 215,921 shares of Ciena common stock, including unvested RSUs and Performance Stock Units (PSUs).
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing relates to routine tax-related stock disposals and doesn't indicate a significant change in the executive's position or the company's outlook.
Industry Context
This is a routine transaction related to executive compensation and tax obligations. It doesn't necessarily reflect a change in the executive's confidence in the company.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 12/16/2020 | Date of restricted stock unit (RSU) award agreement. |
| 12/18/2020 | Previous Form 4 filing date reporting acquisition of RSU. |
| 12/14/2021 | Date of restricted stock unit (RSU) award agreement. |
| 12/16/2021 | Previous Form 4 filing date reporting acquisition of RSU. |
| 12/13/2022 | Date of restricted stock unit (RSU) award agreement. |
| 12/15/2022 | Previous Form 4 filing date reporting acquisition of RSU. |
| 12/12/2023 | Date of restricted stock unit (RSU) award agreement. |
| 12/14/2023 | Previous Form 4 filing date reporting acquisition of RSU. |
| 06/20/2024 | Date of transaction (disposal of shares). |
| 06/21/2024 | Date of Form 4 filing. |
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