Form 4: Cisco Director Daniel Schulman Receives RSU Award

Cisco Systems Director Daniel H. Schulman was granted 3,481 fully vested deferred restricted stock units, increasing his beneficial ownership to 13,937.406 shares.

Summary

• Daniel H. Schulman, a Director of Cisco Systems, Inc. (CSCO), acquired 3,481 shares of common stock.
• The transaction occurred on December 16, 2025, and was an acquisition (A) at a price of $0 per share.
• The acquired shares represent a fully vested deferred restricted stock unit (RSU) award.
• These RSUs will settle in shares on, or as soon as practicable after, Schulman's 'separation from service' to Cisco.
• Following this transaction, Schulman beneficially owns 13,937.406 shares of Cisco common stock.
• The total beneficial ownership includes 450.406 dividend equivalents accrued on vested deferred restricted stock units, where each dividend equivalent is the economic equivalent of one share of Cisco common stock.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 7

Explanation: The filing indicates a positive event for the director, representing a standard equity award. For the company, it's a neutral event as it's a routine compensation practice, reflecting ongoing director engagement and alignment with shareholder interests.

Positives

• A Director received a grant of 3,481 fully vested deferred restricted stock units, indicating continued equity compensation.
• The transaction increases the Director's beneficial ownership in Cisco Systems, aligning his interests with shareholders.

Future Outlook

The acquired restricted stock units are fully vested and will settle in shares on, or as soon as practicable after, the reporting person's 'separation from service' to Cisco.

Management Comments

• The filing was signed by Jay Higdon, Attorney-in-Fact for Daniel H. Schulman, indicating the use of a Power of Attorney for SEC filings.

Industry Context

Equity compensation, such as restricted stock units, is a common practice for directors and executives in the technology industry, aligning their long-term interests with company performance and shareholder value.

Comparison to Industry Standards

• The grant of fully vested deferred restricted stock units to a director is a standard form of non-cash compensation in publicly traded companies, particularly within the technology sector.
• This practice is consistent with corporate governance best practices aimed at retaining experienced board members and incentivizing long-term commitment.

Corporate Governance

Related Party Transactions

• The acquisition of 3,481 shares through a restricted stock unit award by Daniel H. Schulman, a Director of Cisco Systems, Inc., constitutes a related party transaction as it involves compensation from the company to a member of its board.

Stakeholder Impact

• Shareholders: Minimal direct impact, as this is a routine compensation event. It reinforces director alignment with long-term company performance.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Creditors: No direct impact mentioned.

Next Steps

• The shares underlying the deferred restricted stock units will settle upon Daniel H. Schulman's 'separation from service' to Cisco.

Key Dates

Keywords

Cisco Systems, CSCO, Form 4, Insider Transaction, Restricted Stock Unit, RSU, Director Compensation, Equity Award, Beneficial Ownership