Summary
Ciena Corporation (CIEN) filed an 8-K report on December 8, 2011, primarily to furnish its earnings release for the fourth fiscal quarter and full fiscal year ended October 31, 2011. While the specific financial results are detailed in the attached press release (Exhibit 99.1), this filing also disclosed a significant board-level change. Director Stephen P. Bradley will not seek re-election at the 2012 Annual Meeting of Shareholders and will retire from the Board upon completion of his term. This departure, which is not due to any disagreement, will result in a reduction of the Board's size from nine to eight members, specifically reducing the number of Class III directors up for election. Investors should refer to the furnished press release for comprehensive financial performance details, while this 8-K highlights a planned governance adjustment. It's important to note that information furnished under Item 2.02 is not considered "filed" for regulatory purposes, meaning it doesn't carry the same liability as formally filed data.
Key Highlights
- 1Ciena Corporation (CIEN) announced its Q4 and full fiscal year 2011 financial results via an earnings press release furnished with this 8-K.
- 2Director Stephen P. Bradley will not stand for re-election at the 2012 Annual Meeting of Shareholders and will retire from the Board.
- 3Mr. Bradley's decision to retire was not due to any disagreement with Ciena Corporation.
- 4The company's Board of Directors will be reduced in size from nine to eight members, effective prior to the 2012 Annual Meeting.
- 5This Board size reduction will decrease the number of Class III directors up for election from three to two.
- 6The press release containing the detailed financial results is attached as Exhibit 99.1.
- 7Information furnished under Item 2.02 is not deemed "filed" for Section 18 purposes.