8-KLeadership ChangesExhibits & Filings

CISCO SYSTEMS, INC. 8-K Report, Executive Changes (Jan 4, 2008)

Filed January 4, 2008For Securities:CSCO

Summary

This Form 8-K filing by Cisco Systems, Inc. (CSCO) on January 4, 2008, primarily details the compensatory arrangements for Charles H. Giancarlo following his resignation as Executive Vice President, Chief Development Officer. The report states that Mr. Giancarlo will serve as a consultant to Cisco from December 31, 2007, through June 30, 2008, receiving a monthly payment of $8,333 for his services. Furthermore, during this consulting period, any unvested stock options and restricted stock units held by Mr. Giancarlo will continue to vest according to their original terms. The agreement allows for termination by either party at any time. This filing focuses on the post-employment transition and compensation structure for a key executive.

Key Highlights

  • 1Cisco Systems entered into a Transition Agreement with Charles H. Giancarlo, effective December 31, 2007.
  • 2Mr. Giancarlo resigned as Executive Vice President, Chief Development Officer.
  • 3Mr. Giancarlo will serve as a consultant to Cisco from December 31, 2007, to June 30, 2008.
  • 4He will receive a monthly consulting fee of $8,333.
  • 5Unvested stock options and restricted stock units held by Mr. Giancarlo will continue to vest during the consulting term.
  • 6Either Cisco or Mr. Giancarlo can terminate the Transition Agreement at any time.

Frequently Asked Questions

The main purpose of this 8-K filing is to report on the compensatory arrangements for Charles H. Giancarlo following his resignation as Executive Vice President, Chief Development Officer of Cisco Systems, Inc.

Following his resignation, Mr. Giancarlo will serve as a consultant to Cisco from December 31, 2007, through June 30, 2008, and will receive a monthly payment of $8,333 for his consulting services.

Yes, the agreement states that Mr. Giancarlo's unvested stock options and restricted stock units will continue to vest during the term of the Transition Agreement, governed by their existing terms.

Yes, the Transition Agreement can be terminated at any time by either Cisco Systems or Mr. Giancarlo.