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

Cisco CEO Charles Robbins sold 21,593 shares of common stock to cover tax liabilities related to the settlement of restricted stock units.

Summary

• Cisco CEO Charles Robbins sold 21,593 shares of Cisco common stock on August 10, 2024, at a price of $45.47 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 sale also included the partial settlement of dividend equivalents accrued on restricted stock units.
• Following the transaction, Robbins beneficially owns 710,546 shares of Cisco common stock, which includes 39,323 dividend equivalents accrued on vested deferred restricted stock units and 19,551 dividend equivalents accrued on unvested restricted stock units.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes and does not indicate any positive or negative sentiment.

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 sales for tax purposes are a common practice across the technology industry.
• Many CEOs and other high-ranking executives at companies like Apple, Microsoft, and Google regularly sell shares to cover tax liabilities related to stock-based compensation.
• The amount of shares sold by Charles Robbins is not unusual for a CEO of a company the size of Cisco.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders as it is a routine sale for tax purposes.

Key Dates

Keywords

Cisco, Charles Robbins, stock sale, restricted stock units, tax liabilities, insider trading, dividend equivalents