Summary
This 8-K/A filing from Cisco Systems, Inc. serves as an amendment to a previous filing, providing additional details regarding the compensation awarded to newly appointed Chief Operating Officer, Gary B. Moore. The amendment clarifies that Mr. Moore was granted 200,000 restricted stock units (RSUs) on March 17, 2011, in connection with his appointment. This disclosure, previously undetermined at the time of the initial filing, is important for investors to understand the executive compensation structure and potential dilution associated with this award.
Key Highlights
- 1Amendment to a previous 8-K filing regarding executive appointments.
- 2Disclosure of equity award details for Chief Operating Officer Gary B. Moore.
- 3Mr. Moore was granted 200,000 restricted stock units (RSUs).
- 4The award was granted by the Compensation and Management Development Committee of the Board of Directors.
- 5The RSUs are subject to standard terms and conditions of Cisco's RSU agreement.
- 6The filing amends Item 5.02 of the previous report to include this compensatory arrangement information.
Frequently Asked Questions
This filing is an amendment (Amendment No. 1) to a previously filed 8-K report. It provides additional details on the compensatory arrangement, specifically an equity award, granted to Gary B. Moore in connection with his appointment as Chief Operating Officer. The information was not available at the time of the original filing.
Gary B. Moore was granted 200,000 restricted stock units (RSUs) on March 17, 2011, as part of his compensation for being appointed Chief Operating Officer.
The filing states the award is subject to 'standard terms and conditions of Cisco’s form of restricted stock unit agreement.' While this filing doesn't detail those terms, typically RSUs have vesting periods and conditions that must be met before the shares are delivered to the executive. Investors would need to refer to Cisco's standard RSU agreement or proxy statements for full details on vesting schedules and payout conditions.
The grant of 200,000 RSUs represents an increase in the company's outstanding equity, which could lead to dilution for existing shareholders when the RSUs vest and are settled into shares. The precise impact depends on the vesting schedule and the company's overall share count.