Form 4: Cisco EVP and Chief Legal Officer Sells Shares to Cover Tax Obligations

Deborah L. Stahlkopf, EVP and Chief Legal Officer at Cisco Systems, Inc., sold 4,847 shares of common stock to cover tax liabilities related to the settlement of restricted stock units.

Summary

• Deborah L. Stahlkopf, an Executive Vice President and Chief Legal Officer at Cisco Systems, Inc., sold 4,847 shares of Cisco common stock on August 10, 2024.
• The sale was executed at a price of $45.47 per share.
• This transaction was to cover tax obligations arising from the partial settlement of restricted stock unit awards.
• The restricted stock units were originally reported in Forms 4 filed on September 22, 2021, and October 13, 2022.
• The sale also covered tax liabilities from the partial settlement of dividend equivalents accrued on restricted stock units.
• Following the transaction, Stahlkopf beneficially owns 173,042 shares of Cisco common stock, which includes 7,054 dividend equivalents accrued on unvested restricted stock units and 1,284 dividend equivalents accrued on unvested deferred restricted stock units.

Sentiment

Score: 5

Explanation: This is a neutral event, as it is a routine transaction for an executive to sell shares to cover tax obligations. It does not indicate any positive or negative sentiment about the company's performance.

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 to cover tax obligations are a common practice across the technology industry.
• Many companies, such as Apple, Microsoft, and Google, have similar stock-based compensation plans for their executives, leading to similar transactions.
• The number of shares sold and the price are within the typical range for such transactions at large tech companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale by an executive to cover tax obligations.

Key Dates

Keywords

Cisco, insider trading, stock sale, restricted stock units, tax obligations, Deborah L. Stahlkopf, executive compensation, Form 4