Cumello Joseph 4

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.