Form 4: Cisco CEO Charles Robbins Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Cisco CEO Charles Robbins sold a total of 27,143 shares of common stock on August 16, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- Cisco CEO Charles Robbins executed sales of Cisco common stock on August 16, 2024.
- The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 28, 2024.
- A total of 19,469 shares were sold at a weighted average price of $49.3689, with individual prices ranging from $48.58 to $49.57.
- An additional 7,674 shares were sold at a weighted average price of $49.6385, with individual prices ranging from $49.58 to $49.72.
- Following these transactions, Mr. Robbins directly owns 683,403 shares of Cisco common stock, which includes dividend equivalents.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction under a pre-arranged trading plan, with no indication of positive or negative sentiment.
Risks
- Executive stock sales can sometimes be perceived negatively by the market, although these sales were pre-planned.
Industry Context
Executive stock sales are a common occurrence, especially under pre-arranged trading plans like Rule 10b5-1, which allows insiders to sell shares without being accused of trading on non-public information. This is a routine transaction and does not necessarily indicate a change in the company's outlook.
Comparison to Industry Standards
- Executive stock sales are a common practice across the technology industry, with many CEOs and other executives using 10b5-1 plans to manage their personal finances.
- Companies like Apple, Microsoft, and Google also see regular stock transactions by their executives, often under similar pre-arranged plans.
- The volume and price of these sales are within the typical range for executive transactions at large tech companies.
Stakeholder Impact
- The stock sales may have a minor impact on the stock price, but the pre-planned nature of the sales should mitigate any significant negative reaction.
Key Dates
| Date | Description |
|---|---|
| 02/28/2024 | Date the Rule 10b5-1 trading plan was adopted by Charles Robbins. |
| 08/16/2024 | Date of the stock sales by Charles Robbins. |
| 08/20/2024 | Date the Form 4 was signed. |
Keywords
Cisco, Charles Robbins, stock sale, Rule 10b5-1, insider trading, executive compensation, CSCO
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