Form 4: Cisco EVP and Chief Legal Officer Sells Shares Under 10b5-1 Plan

Deborah L. Stahlkopf, EVP and Chief Legal Officer at Cisco Systems, sold 9,100 shares of common stock at an average price of $48.8611 per share on March 5, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Deborah L. Stahlkopf, an Executive Vice President and Chief Legal Officer at Cisco Systems, Inc., sold 9,100 shares of Cisco common stock on March 5, 2024.
• The sale was executed at a weighted average price of $48.8611 per share, with individual transactions ranging from $48.61 to $49.04.
• This transaction was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on December 5, 2023.
• Following the transaction, Ms. Stahlkopf beneficially owns 195,606 shares of Cisco common stock, which includes dividend equivalents accrued on unvested restricted stock units.

Sentiment

Score: 5

Explanation: The document reflects a routine insider transaction under a pre-arranged plan, which is neither positive nor negative for the company's outlook. It is a neutral event.

Industry Context

This is a routine filing related to insider trading activity and is common for executives of publicly traded companies. The use of a 10b5-1 plan indicates a pre-planned sale, which is a common practice to avoid accusations of trading on inside information.

Comparison to Industry Standards

• Sales by executives under 10b5-1 plans are a common practice across publicly traded companies, including technology firms like Cisco.
• Similar filings are regularly seen from executives at companies like Microsoft (MSFT), Apple (AAPL), and Intel (INTC), reflecting standard corporate governance practices.
• The volume of shares sold and the price range are within typical parameters for executive stock sales.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on investor sentiment, but is unlikely to significantly affect the share price due to the pre-planned nature of the transaction.

Key Dates

Keywords

insider trading, stock sale, Rule 10b5-1, Cisco Systems, executive transaction, Deborah L. Stahlkopf, CSCO