Ciena Corp President & CEO Gary B. Smith Sells $974.7K in Common Stock Under Rule 10b5-1 Plan
CIENA CORP
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Filing Summary
### Insider Transaction: CIENA CORP (CIEN)
**Insider:** SMITH GARY B
**Role:** President & CEO, Director
**Transaction Date:** September 15, 2026
**Filing Date:** September 17, 2026
**Details:**
- **Action:** Open Market Sale (Code S)
- **Shares Sold:** 2,952
- **Average Price:** $330.18
- **Total Transaction Value:** $974,688.11
- **Post-Transaction Holdings:** 240,126 shares
- **Plan:** Rule 10b5-1 trading plan adopted October 4, 2025
**Significance:** Low (Pre-scheduled 10b5-1 plan sale representing ~1.2% of holdings)
Comprehensive Analysis
Executive Summary
On September 17, 2026, Ciena Corp ($CIEN) filed a Form 4 detailing an open-market stock sale by President and CEO Gary B. Smith. The transaction occurred on September 15, 2026, involving the sale of 2,952 shares of Common Stock at a weighted average price of $330.1789, generating gross proceeds of approximately $974,688.11.
Transaction Details
- Filer: Gary B. Smith (President, CEO & Director)
- Security: Common Stock
- Transaction Code: S (Open-market sale)
- Volume: 2,952 shares
- Weighted Average Price: $330.1789 (Execution range: $320.8150 – $335.8150)
- Total Consideration: $974,688.11
- Ownership After Transaction: 240,126 shares directly owned (inclusive of unvested RSUs and PSUs)
Plan and Context
- Rule 10b5-1 Trading Plan: The sales were executed under a pre-established Rule 10b5-1 trading plan adopted on October 4, 2025. This establishes that the transaction was scheduled well in advance rather than driven by discretionary, real-time insider insights.
- Portfolio Impact: The 2,952 shares sold represent roughly 1.2% of Mr. Smith's pre-transaction holdings (243,078 shares), leaving him with a substantial direct stake of 240,126 shares.
Market Significance
This filing carries Low trading significance. While executed by the Chief Executive Officer, the trade was performed under an established 10b5-1 trading plan and represents only a minor trim of his overall equity position.
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Important Disclaimer
This content is drawn from public SEC filings and may contain errors. It is for informational purposes only and is not investment, legal, or tax advice.
Nothing here is a recommendation to buy, sell, or hold any security. Do your own due diligence.