SMITH GARY B 4

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.