Form 4: Cisco Director Acquires Shares Through Deferred Stock Unit Award

Cisco Systems director Marianna Tessel acquired 744 shares of common stock through a deferred restricted stock unit award.

Summary

• Marianna Tessel, a director at Cisco Systems, acquired 744 shares of common stock on June 17, 2024.
• The shares were acquired through a fully vested deferred restricted stock unit award.
• This award was in lieu of cash retainer fees and will settle in shares upon Tessel's separation from service.
• The acquisition price was $45.69 per share.
• Tessel now beneficially owns 26,481 shares of Cisco common stock, including 1,376 dividend equivalents accrued on vested deferred restricted stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it indicates alignment of interests.

Positives

• The acquisition of shares by a director can be seen as a positive sign of confidence in the company's future.

Future Outlook

The shares will be settled upon the director's separation from service.

Industry Context

This is a routine filing related to director compensation and is common practice for publicly traded companies.

Comparison to Industry Standards

• Director compensation packages often include stock awards and deferred stock units, which are common across the technology sector.
• Companies like Apple, Microsoft, and Google also use similar compensation methods for their directors.
• The vesting and settlement terms are typical for deferred stock units, usually tied to the director's tenure or separation from service.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with the company's performance.

Key Dates

Keywords

Cisco, Director, Stock Acquisition, Deferred Stock Units, Insider Trading, Form 4, Marianna Tessel