Patel Jeetendra I 4

What Happened

• Jeetendra I. Patel, President and Chief People Officer of Cisco Systems (CSCO), had 9,399.377 shares withheld on May 10, 2026 to satisfy tax withholding arising from the partial settlement of restricted stock unit (RSU) awards. The withholding was executed at $96.57 per share, totaling approximately $907,698.
• This transaction is a tax-withholding event (code F), not an open-market sale or purchase; such withholdings are routine when RSUs vest and do not necessarily indicate a change in insider sentiment.

Key Details

• Transaction date: 2026-05-10; Filing date (Form 4): 2026-05-12 (appears timely).
• Withheld shares: 9,399.377 at $96.57 per share; gross value ≈ $907,698.
• Transaction code: F (shares withheld to pay tax liability).
• Footnotes:
  • F1: Shares withheld to pay tax liability from partial settlement of two RSU awards originally reported in a Form 3 on May 20, 2025.
  • F2: The aggregate includes 1,807.376 dividend equivalents accrued on unvested RSUs (each equivalent equals one share).
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context

• This was a cashless/withholding-style settlement tied to RSU vesting (not an exercised option or open-market sale). Withholdings to cover taxes are common and typically administrative in nature.
• For investors, note this does not signal a deliberate sale or purchase decision by the insider; it simply reflects standard tax withholding when equity awards vest.