Cisco Systems, Inc.: appoints director Girish D. Rishi

What happened

• On Oct 7, 2026, Cisco Systems, Inc. announced that its board appointed Girish D. Rishi, CEO of Cognite Holding B.V., as a member of the board effective Oct 9, 2026.
• The board determined that Mr. Rishi is "independent" under the applicable listing standards of The Nasdaq Stock Market LLC. The filing states it has not yet been determined on which board committees, if any, Mr. Rishi will serve.
• The filing says Mr. Rishi has entered into Cisco’s standard form of Indemnity Agreement.

Key details

• Mr. Rishi will receive a pro rata portion of the $105,000 annual cash retainer, paid quarterly in arrears, for service through the remainder of the year ending at Cisco's 2026 annual meeting of stockholders.
• Pursuant to the board’s equity grant policy, Mr. Rishi automatically received a fully vested initial non-employee director equity award with a grant date fair value equal to a pro rata portion of $270,000.
• Non-employee directors may elect to defer cash or equity awards and are eligible for Cisco’s charitable matching gifts program (maximum match amount for calendar year 2026 is $25,000).
• The filing notes the Indemnity Agreement description is qualified by the full form of the agreement, which was filed with the SEC on Jan 25, 2021 as Exhibit 10.1 to Cisco’s Form 8-K.

Why it may matter

• This 8-K was filed under Item 5.02 (Departure of directors or certain officers; election of directors), which covers changes in the company’s board membership.
• The filing does not show why the insider traded or why the company acted.