CIENA (CIEN) strategy chief Rothenstein sells 2,500 shares under 10b5-1 plan

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

CIENA CORP executive David M. Rothenstein, Senior Vice President and Chief Strategy Officer, reported an open-market sale of 2,500 shares of common stock on April 15, 2026 at a weighted average price of $467.6536 per share. The transactions were carried out under a pre-arranged Rule 10b5-1 trading plan dated October 10, 2025. Following this sale, he holds 192,581 shares directly, and this amount includes unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs). The sale prices ranged from $459.33 to $478.97 per share.

Insider Trade Summary 10b5-1

Net Seller: 2,500 shares ($1,169,134)

Net Sell 1 txn

Insider Rothenstein David M

Role SVP and Chief Strategy Officer

Sold 2,500 shs ($1.17M)

Type	Security	Shares	Price	Value
Sale	Common Stock	2,500	$467.6536	$1.17M

Holdings After Transaction: Common Stock — 192,581 shares (Direct)

Footnotes (1)

Sales were affected pursuant to Rule 10b5-1 trading plan dated 10/10/2025. Reflects the weighted average sales price with transactions in a range of sales from $459.3300 to $478.9700. 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).

Key Figures

Shares sold: 2,500 shares Weighted average sale price: $467.6536 per share Price range: $459.33 to $478.97 per share +3 more

6 metrics

Shares sold 2,500 shares Open-market sale on April 15, 2026

Weighted average sale price $467.6536 per share Common stock sale on April 15, 2026

Price range $459.33 to $478.97 per share Range of sale prices for reported transactions

Shares held after transaction 192,581 shares Direct holdings including unvested RSUs and PSUs

Transaction code S Sale in open market or private transaction

Trading plan date October 10, 2025 Rule 10b5-1 trading plan governing the sales

Key Terms

Rule 10b5-1 trading plan, weighted average sales price, Restricted Stock Units (RSUs), Performance Stock Units (PSUs), +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"Sales were affected pursuant to Rule 10b5-1 trading plan dated 10/10/2025."

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)"

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.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Form 4 Insider Transactions: What Each Field Means →

04/17/2026 - 03:23 PM

SEC Form 4

FORM 4

UNITED 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).

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^*

Rothenstein David M

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SVP and Chief Strategy Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/15/2026		S		2,500⁽¹⁾	D	$467.6536⁽²⁾	192,581⁽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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Sales were affected pursuant to Rule 10b5-1 trading plan dated 10/10/2025.

2. Reflects the weighted average sales price with transactions in a range of sales from $459.3300 to $478.9700. 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: DAVID M ROTHENSTEIN	04/17/2026
	** Signature of Reporting Person	Date
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 insider transaction did CIENA CORP (CIEN) report for David M. Rothenstein?

CIENA CORP reported that David M. Rothenstein executed an open-market sale of 2,500 shares of common stock. The sale occurred on April 15, 2026 at a weighted average price of $467.6536 per share under a pre-arranged Rule 10b5-1 trading plan.

At what prices did David M. Rothenstein sell CIENA (CIEN) shares?

The reported transaction used a weighted average sales price of $467.6536 per share. Individual trades occurred within a range from $459.33 to $478.97 per share, and full breakdowns of each price level would be available to the SEC upon request.

How many CIENA CORP (CIEN) shares does David M. Rothenstein hold after the sale?

After the reported sale, David M. Rothenstein holds 192,581 CIENA CORP common shares directly. This figure includes unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs), reflecting both currently vested and certain unvested equity awards in his reported holdings.

Was the CIENA (CIEN) insider sale by David M. Rothenstein part of a trading plan?

Yes. The sales were executed pursuant to a Rule 10b5-1 trading plan dated October 10, 2025. Such plans are pre-arranged frameworks that allow insiders to sell shares according to predetermined instructions, providing structure for transactions over time.

What type of security did David M. Rothenstein trade in CIENA CORP (CIEN)?

The transaction involved CIENA CORP common stock, categorized as a non-derivative security. The filing also notes that his post-transaction holdings include unvested RSUs and PSUs, which are forms of stock-based compensation that convert into common shares upon vesting or performance satisfaction.

Was the CIENA (CIEN) insider transaction a purchase or a sale?

The filing shows an open-market sale of 2,500 CIENA CORP common shares by David M. Rothenstein. The transaction code is “S,” which corresponds to a sale in the open market or a private transaction, confirming it was a disposition rather than an acquisition.