Form 4: Cisco Systems SVP & Chief Accounting Officer Sells Shares Under 10b5-1 Plan

Maria Victoria Wong, SVP & Chief Accounting Officer at Cisco Systems, sold 2,497 shares of common stock at $50 per share on March 13, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Maria Victoria Wong, a Senior Vice President and Chief Accounting Officer at Cisco Systems, Inc., sold 2,497 shares of Cisco common stock on March 13, 2024.
• The sale was executed at a price of $50 per share.
• This transaction was conducted under a pre-existing Rule 10b5-1 trading plan adopted by Ms. Wong on March 23, 2023.
• Following the transaction, Ms. Wong directly owns 58,121 shares of Cisco common stock.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to an executive's stock sale under a pre-arranged plan. It doesn't 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 sell shares to avoid accusations of insider trading.

Comparison to Industry Standards

• Sales by executives under 10b5-1 plans are a common practice across the technology industry, including companies like Microsoft (MSFT), Apple (AAPL), and Intel (INTC).
• 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 Ms. Wong is relatively small compared to the total outstanding shares of Cisco, and is not unusual for executives at this level.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on shareholder sentiment, but is unlikely to significantly affect the stock price given the relatively small volume and the pre-planned nature of the transaction.

Key Dates

Keywords

insider trading, Form 4, 10b5-1 plan, stock sale, Cisco Systems, Maria Victoria Wong, CSCO, executive compensation