Form 4: Cisco EVP Maria Martinez Sells 10,000 Shares Under 10b5-1 Plan
SEC Form 4 Filing
Cisco's EVP and Chief Operating Officer, Maria Martinez, sold 10,000 shares of common stock at $48.76 per share, according to a recent SEC filing.
Summary
- Maria Martinez, EVP & Chief Operating Officer of Cisco Systems, Inc., sold 10,000 shares of Cisco common stock on February 16, 2024, at a price of $48.76 per share.
- The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 23, 2023.
- Following the transaction, Martinez directly owns 521,518 shares of Cisco common stock and indirectly owns 1,276 shares through a trust.
- The reported holdings include 10,543 dividend equivalents accrued on unvested restricted stock units, each equivalent to one share of Cisco common stock.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing related to a pre-planned stock sale by an executive. It does not indicate any positive or negative sentiment about the company's performance.
Industry Context
This is a routine filing related to insider trading activity. It is common for executives to use 10b5-1 plans to manage their stock sales and avoid accusations of trading on inside information.
Comparison to Industry Standards
- Rule 10b5-1 plans are a standard practice among executives at publicly traded companies, including Cisco's competitors such as Juniper Networks (JNPR) and Arista Networks (ANET).
- These plans allow executives to sell shares at predetermined times and prices, mitigating the risk of insider trading allegations.
- The volume of shares sold by Maria Martinez is not unusual for an executive of her level, and the price is consistent with the market price of Cisco stock at the time of the transaction.
Stakeholder Impact
- The stock sale by Maria Martinez is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors, as it is a routine transaction under a pre-arranged plan.
Key Dates
| Date | Description |
|---|---|
| 03/23/2023 | Date the Rule 10b5-1 trading plan was adopted by Maria Martinez. |
| 02/16/2024 | Date of the stock sale transaction. |
| 02/21/2024 | Date the SEC Form 4 was signed. |
Keywords
SEC Form 4, insider trading, Rule 10b5-1, stock sale, Cisco, Maria Martinez, executive, CSCO
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