Summary
This 8-K filing by Cisco Systems, Inc. (CSCO) reports on a significant event for investors: the adoption of a pre-arranged stock trading plan by Executive Vice President and Chief Financial Officer, Kelly A. Kramer. This plan, established on May 30, 2019, allows Ms. Kramer to sell shares of Cisco stock over a period extending until March 2020. The adoption of this plan is structured in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. This rule provides a safe harbor for individuals who do not possess material non-public information at the time the plan is established, enabling them to diversify their investments over time. Investors should note that these transactions will be publicly disclosed through Form 144 and Form 4 filings.
Key Highlights
- 1CFO Kelly A. Kramer has adopted a pre-arranged stock trading plan.
- 2The trading plan allows for the sale of Cisco stock.
- 3The plan is scheduled to terminate in March 2020.
- 4The plan was adopted on May 30, 2019.
- 5Transactions will comply with Rule 10b5-1 of the Securities Exchange Act of 1934.
- 6Rule 10b5-1 permits sales when the individual is not in possession of material non-public information.
- 7Sales under the plan will be publicly disclosed via Form 144 and Form 4 filings.