Cisco (CSCO) CFO Mark Patterson Sells 3,348 Shares

What Happened
Mark Patterson, EVP and Chief Financial Officer of Cisco Systems (CSCO), disposed of a total of 3,348.145 shares in two transactions. On 2026-09-10, 1,553.145 shares were withheld to cover tax liabilities from a partial settlement of a restricted stock unit (RSU) award (with a value of $169,961 at $109.43/share). On 2026-09-11, he sold 1,795 shares in an open-market sale at $108.87/share for $195,422. Total proceeds across both actions were about $365,383. These were sales (routine liquidity and tax withholding), not purchases.

Key Details

• Transaction dates and prices:
  • 2026-09-10: 1,553.145 shares withheld at $109.43/share — $169,961 (tax withholding, code F)
  • 2026-09-11: 1,795 shares sold open market at $108.87/share — $195,422 (sale, code S)
• Total shares disposed: 3,348.145; total proceeds ≈ $365,383.
• Footnotes of note:
  • F1: Withheld shares paid tax on partial settlement of one RSU award originally reported in Form 3 (Aug 8, 2025).
  • F2: The withheld amount includes 1,786.851 dividend equivalents accrued on unvested RSUs (each equals one share economically).
  • F3: The open-market sale on 2026-09-11 was executed under a Rule 10b5-1 trading plan adopted Dec 19, 2025.
• Filing info: Form 4 filed 2026-09-14 covering transactions dated 2026-09-10 and 2026-09-11. The Form shows the filing date; check the official filing for any timeliness flag.
• Shares owned after the transactions: not provided in the supplied summary; see the official Form 4 for holdings.

Context
The 2026-09-10 withholding was to satisfy tax obligations from an RSU settlement (a non-discretionary action). The 2026-09-11 sale was done under a pre-established 10b5-1 plan (a pre-arranged trading program). Both are common forms of insider liquidity and do not, by themselves, indicate a change in the insider’s view of the company.