Form 4: Cisco Executive Sells Shares to Cover Tax Obligations

Cisco's EVP & Chief Customer and Partner Officer, Jeffery S. Sharritts, sold 1,811 shares of common stock to cover tax liabilities from a restricted stock unit settlement.

Summary

• Jeffery S. Sharritts, an EVP at Cisco, sold 1,811 shares of Cisco common stock on March 10, 2024.
• The sale was executed to cover tax obligations arising from the partial settlement of a restricted stock unit award.
• The shares were sold at a price of $49.5 per share.
• Following the transaction, Sharritts beneficially owns 248,323 shares of Cisco common stock, which includes 6,458 dividend equivalents accrued on unvested restricted stock units.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any significant positive or negative sentiment.

Industry Context

Executive stock sales are a common occurrence and are often related to compensation and tax planning. This transaction is not unusual for a company like Cisco.

Comparison to Industry Standards

• Executive stock sales are a normal part of compensation packages in the tech industry.
• Companies like Microsoft, Apple, and Oracle also see similar transactions from their executives.
• The number of shares sold is relatively small compared to the total shares owned by the executive.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders as it is a routine executive stock sale.

Key Dates

Keywords

Cisco, stock sale, executive, restricted stock units, tax liability, Jeffery S. Sharritts, insider trading