SMITH GARY B 4

4 · CIENA CORP · Filed Mar 24, 2026

AI-generated summary of this filing

Updated Mar 24, 2026

CIENA (CIEN) CEO Gary B. Smith Withholds Shares to Cover Taxes

What Happened

Gary B. Smith, President, CEO and a director of CIENA Corp (CIEN), had 8,767 shares withheld on March 20, 2026 to cover tax liabilities related to RSU/PSU awards. The shares were valued at $383.89 each, generating gross proceeds (value of withheld shares) of approximately $3,365,564 across four withholding events:
- 937 shares @ $383.89 = $359,705
- 2,985 shares @ $383.89 = $1,145,912
- 3,102 shares @ $383.89 = $1,190,827
- 1,743 shares @ $383.89 = $669,120
These were not open-market sales but share withholdings to satisfy tax obligations tied to equity awards.

Key Details

Transaction date: March 20, 2026; Form 4 filed March 24, 2026.
Price reported: $383.89 per share for all withholdings.
Total shares withheld: 8,767; total value ≈ $3,365,564.
Shares owned after the transaction: Not stated in the provided extract of the filing.
Footnotes: Withholdings relate to multiple RSU award agreements (award dates 12/13/2022, 12/12/2023, 12/17/2024, and 12/16/2025). Footnotes indicate the reported shares include unvested RSUs and PSUs.
Timeliness: Form 4 was filed four calendar days after the transactions; Form 4s are generally required within two business days, so investors may want to view the filing for any timeliness notation.

Context

These entries represent tax-withholding of equity awards (routine administrative transactions), not voluntary open-market sales. Such withholdings are common when RSUs/PSUs vest and do not necessarily signal insider sentiment.
For retail investors, purchases are usually more meaningful as bullish signals; tax withholdings are typically neutral operational events.

Form 4

Period: 2026-03-20

DirectorPresident, CEO

Transactions

Tax Payment
Common Stock
[F1][F2]
2026-03-20$383.89/sh−937$359,705→ 292,147 total
Tax Payment
Common Stock
[F3][F2]
2026-03-20$383.89/sh−2,985$1,145,912→ 289,162 total
Tax Payment
Common Stock
[F4][F2]
2026-03-20$383.89/sh−3,102$1,190,827→ 286,060 total
Tax Payment
Common Stock
[F5][F2]
2026-03-20$383.89/sh−1,743$669,120→ 284,317 total

Footnotes (5)

[F1]Represents shares withheld to cover payment of the tax liabilities of the reporting person related to a restricted stock unit (RSU) award agreement dated 12/16/2025. Acquisition of the RSU was previously reported in Table I of the reporting person's Form 4 filed on 12/18/2025.
[F2]Shares reported include unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
[F3]Represents shares withheld to cover payment of the tax liabilities of the reporting person related to a restricted stock unit (RSU) award agreement dated 12/13/2022. Acquisition of the RSU was previously reported in Table I of the reporting person's Form 4 filed on 12/15/2022.
[F4]Represents shares withheld to cover payment of the tax liabilities of the reporting person related to a restricted stock unit (RSU) award agreement dated 12/12/2023. Acquisition of the RSU was previously reported in Table I of the reporting person's Form 4 filed on 12/14/2023.
[F5]Represents shares withheld to cover payment of the tax liabilities of the reporting person related to a restricted stock unit (RSU) award agreement dated 12/17/2024. Acquisition of the RSU was previously reported in Table I of the reporting person's Form 4 filed on 12/19/2024.

Signature

By: Michelle Rankin For: Gary B Smith|2026-03-24

1 file