Form 4: Cisco CEO Charles Robbins Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Cisco CEO Charles Robbins disposed of 21,411 shares of common stock to cover tax liabilities related to the settlement of restricted stock units.
Summary
- Cisco CEO Charles Robbins disposed of 21,411 shares of Cisco common stock on May 10, 2024.
- The shares were sold at a price of $47.79 per share.
- This transaction was to cover tax liabilities arising from the partial settlement of restricted stock unit awards.
- The restricted stock units were originally reported in previous filings on September 22, 2020, September 22, 2021, November 8, 2021 and October 13, 2022.
- The transaction also included the partial settlement of dividend equivalents accrued on restricted stock units.
- Following the transaction, Robbins beneficially owns 751,694 shares of Cisco common stock.
- This total includes 36,933 dividend equivalents accrued on vested deferred restricted stock units and 19,612 dividend equivalents accrued on unvested restricted stock units.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction for tax purposes, not indicative of any positive or negative sentiment towards the company's performance.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.
Comparison to Industry Standards
- Executive stock transactions are a common occurrence in publicly traded companies.
- The sale of shares to cover tax liabilities is a standard practice among executives who receive stock-based compensation.
- The number of shares disposed of is relatively small compared to the total shares owned by the CEO.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on stakeholders as it is a routine sale of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 05/10/2024 | Date of the stock disposal transaction. |
| 05/14/2024 | Date the SEC Form 4 was signed. |
Keywords
Cisco, Charles Robbins, stock disposal, restricted stock units, tax liabilities, SEC Form 4, insider trading
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