Summary
This 8-K filing from Cisco Systems, Inc. (CSCO) on September 1, 2017, primarily discloses a pre-arranged stock trading plan adopted by Executive Chairman John T. Chambers. The plan allows for the sale of up to 250,000 shares of Cisco stock, scheduled to terminate in March 2018. This type of plan is designed to allow individuals to diversify their holdings over time, even during periods when they might possess material non-public information, provided the plan is established when such information is not possessed. Investors should note that these transactions will be publicly disclosed via Form 144 and Form 4 filings.
Key Highlights
- 1Executive Chairman John T. Chambers has adopted a pre-arranged stock trading plan.
- 2The plan allows for the sale of up to 250,000 shares of Cisco stock.
- 3The trading plan is scheduled to terminate in March 2018.
- 4The plan was adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
- 5Rule 10b5-1 plans allow for diversification of investment portfolios over an extended period.
- 6Transactions under the plan will be publicly disclosed via Form 144 and Form 4 filings.
- 7The plan was adopted on August 28, 2017.