Form 4: Ciena SVP Joseph Cumello Reports Tax Liability Share Withholding
SEC Form 4 Filing
Ciena's SVP, General Manager of Blue Planet, Joseph Cumello, reports the withholding of shares to cover tax liabilities related to restricted stock unit (RSU) awards.
Summary
- On June 20, 2024, Joseph Cumello, SVP, General Manager of Blue Planet at Ciena Corporation, had shares of common stock withheld to cover tax liabilities.
- The shares were withheld at a price of $46.96 per share.
- A total of 1,331 shares were withheld across multiple RSU award agreements.
- Following these transactions, Cumello beneficially owns 47,263 shares of Ciena common stock, which includes unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
Sentiment
Score: 5
Explanation: This is a neutral report on share withholding for tax purposes, a common practice. It doesn't indicate positive or negative sentiment.
Industry Context
This is a routine Form 4 filing related to executive compensation and tax obligations, common in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| 12/16/2020 | Date of a restricted stock unit (RSU) award agreement related to share withholding. |
| 10/1/2020 | Date of a restricted stock unit (RSU) award agreement related to share withholding. |
| 12/13/2022 | Date of a restricted stock unit (RSU) award agreement related to share withholding. |
| 2/1/2023 | Date of a restricted stock unit (RSU) award agreement related to share withholding. |
| 12/12/2023 | Date of a restricted stock unit (RSU) award agreement related to share withholding. |
| 12/14/2021 | Date of a restricted stock unit (RSU) award agreement related to share withholding. |
| 06/20/2024 | Date of the share withholding transaction. |
| 06/21/2024 | Date of the signature on the Form 4. |
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