Form 4: Cisco EVP Thimaya K. Subaiya Sells 21,230 Shares Under 10b5-1 Plan
SEC Form 4 Filing
Cisco's Executive Vice President of Operations, Thimaya K. Subaiya, sold 21,230 shares of common stock at an average price of $57.0674 per share, as part of a pre-arranged trading plan.
Summary
- Thimaya K. Subaiya, Executive Vice President of Operations at Cisco Systems, Inc., sold 21,230 shares of Cisco common stock on November 20, 2024.
- The sale was executed at a weighted average price of $57.0674 per share.
- The shares were sold under a pre-arranged Rule 10b5-1 trading plan adopted on March 15, 2024.
- The sale was conducted in multiple transactions with prices ranging from $56.63 to $57.48 per share.
- Following the transaction, Subaiya still beneficially owns 213,834 shares, which includes 759 dividend equivalents accrued on unvested restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine filing for an executive stock sale under a pre-arranged plan, which is neither positive nor negative for the company's performance.
Industry Context
Executive stock sales are a common occurrence in publicly traded companies and are often part of pre-arranged trading plans to avoid accusations of insider trading. This transaction is not unusual and is likely part of Subaiya's personal financial planning.
Comparison to Industry Standards
- Executive stock sales are a common practice across the technology industry, with many executives using 10b5-1 plans to manage their stock holdings.
- Similar sales are regularly reported by executives at companies like Apple (AAPL), Microsoft (MSFT), and Intel (INTC), often with similar trading plan structures.
- The volume of shares sold by Subaiya is not unusual for an executive at a company of Cisco's size.
Stakeholder Impact
- The stock sale by an executive may have a minor impact on investor sentiment, but is unlikely to significantly affect the share price given the pre-arranged nature of the transaction.
Key Dates
| Date | Description |
|---|---|
| 03/15/2024 | Date the Rule 10b5-1 trading plan was adopted by the reporting person. |
| 11/20/2024 | Date of the stock sale transaction. |
| 11/21/2024 | Date the Form 4 was signed. |
Keywords
Cisco, insider trading, stock sale, Form 4, 10b5-1 plan, executive, share transaction, CSCO
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