Form 4: Cisco Executive Sells Shares Under 10b5-1 Plan

Cisco's EVP & Chief Customer and Partner Officer, Jeffery S. Sharritts, sold a total of 2,666 shares of common stock on March 13th and 14th, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Jeffery S. Sharritts, an EVP at Cisco, sold 2,534 shares of Cisco common stock on March 13, 2024, at a weighted average price of $50.0091 per share.
• He also sold 132 shares on March 14, 2024, at a price of $50.27 per share.
• These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on June 13, 2023.
• Following these sales, Sharritts directly owns 245,657 shares of Cisco common stock.
• The reported holdings include 6,458 dividend equivalents accrued on unvested restricted stock units.

Sentiment

Score: 5

Explanation: The document reflects a routine executive stock sale under a pre-arranged plan, which is neither positive nor negative for the company's outlook.

Risks

• Executive stock sales can sometimes be perceived negatively by the market, although these sales were pre-planned.

Industry Context

Executive stock sales are a common occurrence, especially under pre-arranged 10b5-1 plans, and are generally not indicative of company performance or outlook.

Comparison to Industry Standards

• Many technology executives use 10b5-1 plans to manage their stock sales, aligning with industry practices.
• The volume of shares sold is relatively small compared to the total outstanding shares of Cisco, which is typical for executive sales under these plans.
• Other tech companies like Microsoft, Apple, and Oracle also see similar executive stock transactions.

Stakeholder Impact

• The stock sales are unlikely to have a significant impact on shareholders, employees, customers, or suppliers due to the small volume and pre-planned nature.

Key Dates

Keywords

Cisco, stock sale, insider trading, Form 4, Jeffery S. Sharritts, 10b5-1 plan, executive compensation, share transaction