Cumello Joseph 4
4 · CIENA CORP · Filed Jun 23, 2026
Research Summary
AI-generated summary of this filing
Ciena (CIEN) SVP Joseph Cumello Sells Shares to Cover Taxes
What Happened
Joseph Cumello, Senior Vice President and General Manager of Blue Planet at Ciena (CIEN), had 1,717 shares withheld on June 20, 2026 to cover tax liabilities arising from restricted stock and performance unit vesting. The withholding occurred at a reported price of $428.22 per share, resulting in total withheld/disposed proceeds of about $735,254 (breakdowns: 441 shares = $188,845; 182 = $77,936; 582 = $249,224; 332 = $142,169; 180 = $77,080). This is a routine tax-withholding disposition (transaction code F), not an open-market sale for investment purposes.
Key Details
- Transaction date: 2026-06-20; Filing date (Form 4): 2026-06-23.
- Price reported: $428.22 per share for all withheld lots.
- Total shares withheld/disposed: 1,717 shares; total value ≈ $735,254.
- Shares owned after transaction: Not specified in the excerpt of the filing provided.
- Footnotes: Withholdings relate to RSU/PSU awards from multiple grant dates (12/13/2022, 2/1/2023, 12/12/2023, 12/17/2024, 12/16/2025); some awards and acquisitions were previously reported on prior Forms 3/4. Footnote F2 notes the reporting includes unvested RSUs and PSUs.
- Transaction code explanation: F = shares withheld to satisfy tax withholding obligations on equity awards (common, not a directional trade).
Context
Tax-withholding dispositions for vested RSUs/PSUs are routine actions that convert a portion of an award into cash to cover payroll/tax obligations; they do not necessarily signal the insider’s view on the company’s stock. The filing shows these were withholdings tied to previously granted RSUs/PSUs rather than discretionary open-market sales or option exercises followed by sale.
Insider Transaction Report
- Tax Payment
Common Stock
[F1][F2]2026-06-20$428.22/sh−441$188,845→ 45,734 total - Tax Payment
Common Stock
[F3][F2]2026-06-20$428.22/sh−182$77,936→ 45,552 total - Tax Payment
Common Stock
[F4][F2]2026-06-20$428.22/sh−582$249,224→ 44,970 total - Tax Payment
Common Stock
[F5][F2]2026-06-20$428.22/sh−332$142,169→ 44,638 total - Tax Payment
Common Stock
[F6][F2]2026-06-20$428.22/sh−180$77,080→ 44,458 total
Footnotes (6)
- [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 12/13/2022. Acquisition of the RSU was previously reported in Table I of the reporting person's Form 3 filed on 2/3/2023.
- [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 2/1/2023. Acquisition of the RSU was previously reported in Table I of the reporting person's Form 4 filed on 2/3/2023.
- [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.
- [F6]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.