Phipps Jason 4

What Happened

• Jason Phipps, SVP Global Sales and Marketing at Ciena (CIEN), had 2,374 shares withheld on 2026-03-20 to cover tax liabilities tied to restricted stock unit (RSU) awards. The shares were recorded as disposed at $383.89 per share, totaling about $911,354 across four withholding events: 269 shares ($103,266), 736 shares ($282,543), 863 shares ($331,297), and 506 shares ($194,248).
• This was a tax-withholding disposal of RSU/PSU awards (routine administrative transaction), not an open-market sale meant to signal investment intent.

Key Details

• Transaction date: 2026-03-20; filing date: 2026-03-24 (filed within the two-business-day SEC window).
• Price per share: $383.89 for all reported disposals.
• Total shares withheld/disposed: 2,374 shares; total proceeds/value: approximately $911,354.
• Shares owned after the transaction: Not specified in the Form 4 provided.
• Footnotes: Withholdings relate to multiple RSU award agreements (grant dates reported 12/13/2022; 12/12/2023; 12/17/2024; 12/16/2025). Reported shares include unvested RSUs and Performance Stock Units (PSUs).
• Transaction code: F = tax withholding to satisfy tax liabilities on awards.

Context

• These withholdings are a common, administrative means to pay taxes when RSUs/PSUs vest and do not necessarily indicate the insider is reducing their exposure through market sales. For retail investors, purchases are generally more informative about insider sentiment; routine tax withholdings are standard corporate practice.