Form 4: Cisco CEO Charles Robbins Sells 29,099 Shares Under 10b5-1 Plan

Cisco CEO Charles Robbins sold 29,099 shares of common stock at an average price of $48.6693 per share, as part of a pre-arranged trading plan.

Summary

• Cisco CEO Charles Robbins sold 29,099 shares of Cisco common stock on February 16, 2024.
• The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 7, 2023.
• The shares were sold at a weighted average price of $48.6693, with individual sales ranging from $48.40 to $49.03.
• Following the transaction, Robbins beneficially owns 766,767 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 under a pre-arranged plan, with no indication of positive or negative sentiment. It's a neutral event.

Industry Context

Executive stock sales are a common occurrence, and this transaction is not unusual for a CEO of a large public company. The use of a 10b5-1 plan indicates that the sale was pre-planned and not based on any recent material non-public information.

Comparison to Industry Standards

• Executive stock sales are a common practice across the technology industry, with many CEOs and other high-ranking officers using 10b5-1 plans to manage their personal finances.
• Companies like Microsoft, Apple, and Oracle also see regular stock transactions by their executives, often under similar pre-arranged plans.
• The volume of shares sold by Robbins is not particularly large compared to some other executive sales, and the price range is within normal market fluctuations.

Stakeholder Impact

• The stock sale is unlikely to have a significant impact on shareholders, as it was a relatively small transaction by the CEO and was pre-planned.

Key Dates

Keywords

Cisco, Charles Robbins, stock sale, Rule 10b5-1, insider trading, executive, share transaction