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CIENA (CIEN) CEO Gary Smith sells 2,952 shares in pre-set 10b5-1 trades

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

CIENA CORP President and CEO Gary B. Smith reported an open-market sale of 2,952 shares of common stock. The shares were sold at a weighted average price of $468.8252, with individual trades ranging from $459.8400 to $480.5050.

The filing states these sales were made under a Rule 10b5-1 trading plan dated 10/04/2025, indicating they were pre-arranged rather than discretionary. After the transaction, Smith directly holds 254,886 shares, which include unvested RSUs and PSUs.

Positive

  • None.

Negative

  • None.
Insider SMITH GARY B
Role President, CEO
Sold 2,952 shs ($1.38M)
Type Security Shares Price Value
Sale Common Stock 2,952 $468.8252 $1.38M
Holdings After Transaction: Common Stock — 254,886 shares (Direct, null)
Footnotes (1)
  1. Sales were affected pursuant to Rule 10b5-1 trading plan dated 10/04/2025. Reflects the weighted average sales price with transactions in a range of sales from $459.8400 to $480.5050. Upon request by the SEC, full information regarding the number of shares sold at each separate sales price will be provided. Shares reported include unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
Shares sold 2,952 shares Open-market sale on July 1, 2026
Weighted average sale price $468.8252 per share Common stock sale
Post-transaction holdings 254,886 shares Direct ownership after sale; includes RSUs and PSUs
Sale price range $459.8400–$480.5050 per share Range of prices for individual sale trades
Trading plan date October 4, 2025 Rule 10b5-1 trading plan governing these sales
Rule 10b5-1 trading plan regulatory
"Sales were affected pursuant to Rule 10b5-1 trading plan dated 10/04/2025."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average sales price financial
"Reflects the weighted average sales price with transactions in a range of sales"
Restricted Stock Units (RSUs) financial
"Shares reported include unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs)."
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
Performance Stock Units (PSUs) financial
"Shares reported include unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs)."
Performance stock units (PSUs) are a form of executive or employee pay that promise company shares only if pre-set performance goals are met over a defined period; think of them as a bonus paid in stock that arrives only when the company hits agreed targets. Investors watch PSUs because they affect the number of shares outstanding (dilution) and reveal how management’s pay is tied to financial or operational results, aligning incentives with shareholder outcomes.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
SMITH GARY B
(Last)(First)(Middle)
C/O CIENA CORPORATION
7035 RIDGE RD.
(Street)
HANOVER MARYLAND 21076-1426
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
CIENA CORP [ CIEN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
President, CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock07/01/2026S2,952(1)D$468.8252(2)254,886(3)D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Sales were affected pursuant to Rule 10b5-1 trading plan dated 10/04/2025.
2. Reflects the weighted average sales price with transactions in a range of sales from $459.8400 to $480.5050. Upon request by the SEC, full information regarding the number of shares sold at each separate sales price will be provided.
3. Shares reported include unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
By: Michelle Rankin For: Gary B Smith07/06/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did CIENA (CIEN) CEO Gary B. Smith report in this Form 4?

Gary B. Smith reported selling 2,952 shares of CIENA common stock. The transaction was an open-market sale executed under a pre-arranged Rule 10b5-1 trading plan dated October 4, 2025, as disclosed in the filing footnotes.

How many CIENA (CIEN) shares did the CEO sell and at what price?

The CEO sold 2,952 CIENA shares at a weighted average price of $468.8252. The filing notes individual sale prices ranged from $459.8400 to $480.5050, and detailed price breakdowns are available to the SEC upon request.

Was the CIENA (CIEN) CEO’s stock sale under a Rule 10b5-1 plan?

Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan dated October 4, 2025. Such plans are pre-arranged trading programs that schedule transactions in advance, reducing discretion over trade timing.

How many CIENA (CIEN) shares does the CEO hold after this transaction?

Following the reported sale, Gary B. Smith holds 254,886 CIENA common shares directly. The filing explains this figure includes unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) that are still subject to vesting conditions.

What does the weighted average sales price mean in the CIENA (CIEN) Form 4?

The weighted average sales price of $468.8252 reflects multiple trades at different prices. The filing notes individual sale prices ranged from $459.8400 to $480.5050, and that full trade-by-trade details can be provided to the SEC if requested.

Do CIENA (CIEN) CEO holdings include unvested RSUs and PSUs?

Yes. The Form 4 states that the 254,886 shares reported as held by the CEO include unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs). These equity awards typically vest over time or upon meeting performance conditions.