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| CSCO > SEC Filings for CSCO > Form 8-K on 27-Jun-2012 | All Recent SEC Filings |
27-Jun-2012
Other Events
On June 22, 2012, John T. Chambers, Chairman and Chief Executive Officer of Cisco Systems, Inc. ("Cisco"), adopted a pre-arranged stock trading plan to exercise Cisco stock options originally granted in 2004 and 2005 and set to expire between August 2013 and September 2014, and to sell the acquired shares of Cisco stock. Under the plan, Mr. Chambers may sell up to 2,150,000 shares of Cisco stock. The plan is scheduled to terminate in September 2013.
In addition, on June 22, 2012, M. Michele Burns, a member of Cisco's board of directors, adopted a pre-arranged stock trading plan to exercise Cisco stock options originally granted in 2003 and set to expire in November 2012, and to sell the acquired shares of Cisco stock. Under the plan, Ms. Burns may sell up to 50,000 shares of Cisco stock. The plan is scheduled to terminate in November 2012.
In addition, on June 21, 2012, Jerry Yang, a member of Cisco's board of directors, adopted a pre-arranged stock trading plan to exercise Cisco stock options originally granted in 2003 and set to expire in November 2012, and to sell the acquired shares of Cisco stock. Under the plan, Mr. Yang may sell up to 20,000 shares of Cisco stock. The plan is scheduled to terminate in November 2012.
Further, on June 21, 2012, Prat Bhatt, Vice President, Corporate Controller and Principal Accounting Officer of Cisco, adopted a pre-arranged stock trading plan to exercise Cisco stock options originally granted in 2003 and set to expire in August 2012, and to sell the acquired shares of Cisco stock. Under the plan, Mr. Bhatt may sell up to 1,800 shares of Cisco stock. The plan is scheduled to terminate in August 2012.
The transactions under each plan will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. Each plan was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and Cisco's policies regarding stock transactions.
Rule 10b5-1 permits individuals who are not in possession of material, non-public information at the time the plan is adopted to establish pre-arranged plans to buy or sell company stock. Using these plans, individuals can prudently and gradually diversify their investment portfolios over an extended period of time.
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