Patterson Mark 4

What Happened

Mark Patterson, Executive Vice President and Chief Financial Officer of Cisco Systems, sold a total of 4,892 shares in two open-market transactions on March 20, 2026. The filings report:

• 2,391 shares sold at a weighted average price of $77.68 for $185,727
• 2,501 shares sold at a weighted average price of $78.26 for $195,722
  Total proceeds reported: approximately $381,449. These were sales (not purchases) and were executed under a pre-arranged 10b5-1 trading plan.

Key Details

• Transaction date: March 20, 2026; Form 4 filed March 23, 2026 (appears timely).
• Reported sale prices (weighted averages): $77.68 and $78.26. Footnotes show per-share price ranges for the multiple trades: $77.02–$78.01 and $78.03–$78.86.
• Shares owned after the transaction: not specified in this filing.
• Notable footnotes:
  • F1: Trades executed pursuant to a Rule 10b5-1 plan adopted Dec 19, 2025.
  • F2/F4: Weighted-average prices; multiple executions within the stated price ranges (reporting person will provide breakdown on request).
  • F3: Reference to 1,021.837 dividend equivalents on unvested RSUs (each equivalent equals one share).
• Transaction code: S = Sale.

Context

• Sales under a 10b5-1 plan are pre-scheduled and often viewed as routine, reducing the degree to which they signal the insider’s current view of the company.
• For retail investors: purchases are typically more informative about insider conviction than routine sales; these transactions should be considered in the broader context of other insider activity and company fundamentals.