Summary
This 8-K filing from Cisco Systems, Inc. (CSCO) announces that on September 12, 2022, CEO Charles Robbins adopted a pre-arranged stock trading plan. This plan allows for the sale of Cisco stock over a period extending until August 2023, and was established in compliance with Rule 10b5-1 of the Securities Exchange Act of 1934 and Cisco's internal policies. The adoption of such a plan is designed to facilitate orderly diversification of personal investments while ensuring adherence to regulations preventing insider trading.
Key Highlights
- 1Cisco CEO Charles Robbins has adopted a pre-arranged stock trading plan.
- 2The plan allows for the sale of Cisco stock by the CEO.
- 3The trading plan is scheduled to terminate in August 2023.
- 4The plan was adopted on September 12, 2022.
- 5Transactions under the plan will be publicly disclosed via Form 144 and Form 4 filings.
- 6The plan complies with SEC Rule 10b5-1 and Cisco's internal stock transaction policies.
- 7Rule 10b5-1 plans allow individuals to sell stock without being in possession of material non-public information at the time of adoption.