Form 4: Ciena SVP Dino DiPerna Disposes of Shares to Cover Tax Obligations
SEC Form 4
Dino DiPerna, SVP of Global R&D at Ciena, disposed of shares to cover tax liabilities related to restricted stock unit (RSU) awards.
Summary
- On March 20, 2024, Dino DiPerna, SVP of Global R&D at Ciena, disposed of a total of 2,061 shares of common stock to cover tax liabilities.
- The shares were withheld at a price of $50.22 per share.
- These disposals relate to restricted stock unit (RSU) award agreements from December 2020, December 2021, December 2022, October 2023 and December 2023.
- Following these transactions, DiPerna beneficially owns 43,870 shares of Ciena common stock, which includes unvested Restricted Stock Units (RSUs).
Sentiment
Score: 5
Explanation: This is a neutral event. It's a routine transaction related to tax obligations and doesn't indicate a significant change in the executive's outlook on the company.
Industry Context
This is a routine transaction; executives often sell shares to cover tax obligations related to vesting equity awards. It doesn't necessarily reflect a change in the executive's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 12/16/2020 | Date of restricted stock unit (RSU) award agreement related to some of the shares withheld. |
| 12/14/2021 | Date of restricted stock unit (RSU) award agreement related to some of the shares withheld. |
| 12/13/2022 | Date of restricted stock unit (RSU) award agreement related to some of the shares withheld. |
| 10/27/2023 | Date of restricted stock unit (RSU) award agreement related to some of the shares withheld. |
| 10/31/2023 | Date of reporting person's Form 3 filing. |
| 12/12/2023 | Date of restricted stock unit (RSU) award agreement related to some of the shares withheld. |
| 12/14/2023 | Date of the reporting person's Form 4 filing. |
| 03/20/2024 | Date of the stock disposal transaction. |
| 03/21/2024 | Date of signature on the Form 4. |
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