Form 4: Cisco CFO Richard Scott Herren Sells 22,309 Shares Under 10b5-1 Plan

Cisco's EVP and CFO, Richard Scott Herren, sold 22,309 shares of common stock at an average price of $50.0003 per share on August 20, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Richard Scott Herren, the EVP and CFO of Cisco Systems, Inc., sold 22,309 shares of Cisco common stock on August 20, 2024.
• The sale was executed at a weighted average price of $50.0003 per share.
• The transactions occurred under a pre-arranged Rule 10b5-1 trading plan adopted on March 4, 2024.
• The shares were sold in multiple transactions with prices ranging from $50.00 to $50.01.
• Following the transaction, Mr. Herren still beneficially owns 293,184.214 shares of Cisco common stock, which includes dividend equivalents.

Sentiment

Score: 5

Explanation: The document is a routine SEC Form 4 filing for an executive stock sale under a pre-arranged plan, which is neither positive nor negative.

Industry Context

Executive stock sales are a common occurrence and are often part of pre-arranged trading plans to avoid accusations of insider trading. This transaction is not unusual for a company like Cisco.

Comparison to Industry Standards

• Executive stock sales are a common practice across the technology industry, with many executives using 10b5-1 plans to manage their personal finances.
• Companies like Apple, Microsoft, and Google also see similar transactions from their executives.
• The volume of shares sold by Mr. Herren is not unusual for a CFO of a large cap company.

Stakeholder Impact

• The stock sale is unlikely to have a significant impact on shareholders as it was conducted under a pre-arranged trading plan.

Key Dates

Keywords

Cisco, Richard Scott Herren, insider trading, 10b5-1 plan, stock sale, executive, CFO