Ciena Director Bruce Claflin Sells 2,857 Shares

What Happened

• Bruce L. Claflin, a director of Ciena Corporation (CIEN), disposed of 2,857 shares on 2026-09-24 at $355.91 per share, for a total value of $1,016,835. The filing indicates the shares were contributed to an exchange fund in exchange for an interest in that fund (footnote F1). This transaction is a sale/contribution rather than a purchase.

Key Details

• Transaction date and price: 2026-09-24, 2,857 shares at $355.91 each.
• Total value: $1,016,835.
• Transaction type: S (sale); filing describes contribution of common stock to an exchange fund (F1).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnotes: F1 = contribution to an exchange fund (shares valued at $355.91 to determine interest); F2 = trust beneficiaries are spouse and children and the reporting person disclaims beneficial ownership of securities held by the trust; F3 = shares reported may include unvested RSUs.
• Filing timeliness: Form 4 was filed on 2026-09-28. Because the transaction occurred on 2026-09-24, the Form 4 was filed within two business days and is timely.

Context

• Contributing shares to an exchange fund is a way to diversify a concentrated position by exchanging stock for an interest in a pooled fund; it differs from a simple open-market cash sale and does not by itself indicate the insider’s view on the company’s prospects.
• Disclaimers about trust beneficiaries (F2) mean the reporting person says they do not beneficially own the securities held by that trust.