Cisco President Jeetendra Patel Withholds 9,400 Shares for Taxes

What Happened Jeetendra I. Patel, President and Chief Product Officer of Cisco Systems (CSCO), had 9,400.369 shares withheld to satisfy tax withholding related to the partial settlement of two restricted stock unit (RSU) awards. The shares were valued at $121.43 each, totaling approximately $1,141,487. This transaction is a tax-withholding disposition of newly vested RSUs, not an open-market sale.

Key Details

• Transaction date: 2026-08-10; Form 4 filed: 2026-08-12 (appears timely — Form 4 is generally due within two business days).
• Shares withheld/disposed: 9,400.369 at $121.43 per share; total value ≈ $1,141,487.
• Transaction code: F — payment of exercise price or tax liability (here, tax withholding on RSU settlement).
• Footnotes: F1 — withholding relates to partial settlement of two RSU awards originally reported in a Form 3 on May 20, 2025. F2 — the amount includes 2,233.572 dividend equivalents accrued on unvested RSUs (each DE is economically equivalent to one share).
• Shares owned after the transaction: not provided in the materials you supplied.

Context This was a routine tax-withholding transaction tied to RSU vesting, not a signaling open-market sale or purchase. Withholding shares to cover tax obligations is common and does not by itself indicate the insider’s market view. The filing documents the mechanics of settlement and withholding rather than an active decision to sell shares on the market.