Form 4: Ciena SVP Jason Phipps Disposes of Shares to Cover Tax Obligations
SEC Form 4
Jason Phipps, SVP Global Sales and Marketing at Ciena, disposed of shares to cover tax liabilities related to restricted stock unit (RSU) awards.
Summary
- On September 20, 2024, Jason Phipps, SVP Global Sales and Marketing at Ciena, disposed of a total of 2,651 shares of Ciena common stock to cover tax liabilities.
- These shares were withheld to cover payment of tax liabilities related to restricted stock unit (RSU) award agreements.
- The transactions were executed at a price of $58.73 per share.
- Following the reported transactions, Phipps beneficially owns 93,349 shares of Ciena common stock, including unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
Sentiment
Score: 5
Explanation: This Form 4 filing is a routine disclosure of stock transactions and has a neutral sentiment.
Industry Context
This is a standard Form 4 filing, reflecting the common practice of executives disposing of shares to cover tax obligations related to equity compensation.
Stakeholder Impact
- The disposal of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to significantly affect the company's overall performance.
Key Dates
| Date | Description |
|---|---|
| 12/16/2020 | Date of restricted stock unit (RSU) award agreement related to one of the transactions. |
| 12/14/2021 | Date of restricted stock unit (RSU) award agreement related to one of the transactions. |
| 12/13/2022 | Date of restricted stock unit (RSU) award agreement related to one of the transactions. |
| 12/12/2023 | Date of restricted stock unit (RSU) award agreement related to one of the transactions. |
| 09/20/2024 | Date of the stock disposal transactions. |
| 09/23/2024 | Date of the Form 4 filing. |
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