Cumello Joseph 4

What Happened
Joseph Cumello, Senior Vice President and General Manager, Blue Planet at Ciena (CIEN), had 1,527 shares withheld on March 20, 2026 to cover tax liabilities arising from vested restricted stock units (RSUs) and performance stock units (PSUs). The shares were withheld at $383.89 per share for a total value of about $586,200. Individual withholdings reported: 179 shares ($68,716), 307 shares ($117,854), 128 shares ($49,138), 582 shares ($223,424), and 331 shares ($127,068). These were tax-withholding dispositions (transaction code F), not open-market sales.

Key Details

• Transaction date: 2026-03-20; filing date: 2026-03-24 (timely).
• Price used for withholding: $383.89 per share.
• Total shares withheld/disposed: 1,527; total value ≈ $586,200.
• Shares owned after the transaction: Not specified in the provided Form 4 excerpt.
• Notable footnotes:
  • F1, F3–F6 indicate shares were withheld to cover tax liabilities from RSU award agreements (award dates include 12/16/2025; 12/13/2022; 2/1/2023; 12/12/2023; 12/17/2024).
  • F2 notes the reported share count includes unvested RSUs and PSUs.
• Transaction code F = shares withheld/surrendered to pay tax withholding (routine for vested equity).

Context
This was a tax-withholding event tied to equity vesting (RSUs/PSUs), a common administrative action that results in shares being surrendered to the company rather than sold on the open market. Such F-coded transactions generally reflect compensation tax mechanics rather than a direct signal of insider sentiment.