Form 4: Cisco CEO Charles Robbins Disposes of Shares to Cover Tax Obligations

Cisco CEO Charles Robbins disposed of 18,250 shares of common stock to cover tax liabilities related to the settlement of restricted stock units.

Summary

• Cisco CEO Charles Robbins disposed of 18,250 shares of common stock on February 10, 2024.
• The shares were sold at a price of $50.13 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 from 2020, 2021 and 2022.
• The transaction also included the partial settlement of dividend equivalents accrued on restricted stock units.
• Following the transaction, Robbins beneficially owns 795,866 shares of Cisco common stock.
• This total includes 34,636 dividend equivalents accrued on vested deferred restricted stock units and 19,022 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.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale of shares by an executive for tax purposes.

Key Dates

Keywords

Cisco, Charles Robbins, stock disposal, restricted stock units, tax liabilities, insider trading, SEC Form 4, dividend equivalents