Gage Brodie 4

What Happened
Gage Brodie, SVP Global Products & Supply at CIENA (CIEN), sold 1,200 shares on 2026-06-15 in an open-market transaction at $466.10 per share, generating $559,320 in proceeds. This was a sale — often routine for insiders — executed pursuant to a pre-existing 10b5-1 trading plan.

Key Details

• Transaction date and price: 2026-06-15, 1,200 shares sold at $466.10 each. Total value: $559,320.
• Reporting/filing: Form 4 filed 2026-06-17 (timely filing).
• Trading plan: Sale pursuant to a Rule 10b5-1 trading plan dated 07/01/2025 and modified 12/23/2025 (pre-arranged).
• Ownership reporting: The filing notes that reported share counts include unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs). The Form 4 did not specify the post-transaction beneficial ownership total beyond that disclosure.
• Transaction type: Open-market sale (code S).

Context
Sales executed under 10b5-1 plans are typically pre-scheduled and do not necessarily reflect a manager’s current view of the company. The inclusion of unvested RSUs/PSUs in reported holdings can make beneficial ownership appear higher than vested common shares alone.