CIEN Insider Sale: Rothenstein Disposes 2,500 Shares Under 10b5-1 Plan

Rhea-AI Filing Summary

David M. Rothenstein, SVP and Chief Strategy Officer of Ciena Corporation (CIEN), reported a sale of 2,500 shares of common stock on 09/15/2025 at a price of $132 per share. The filing states the sale was effected pursuant to a Rule 10b5-1 trading plan dated 12/23/2024, indicating the transaction was prearranged. Following the reported sale, Rothenstein beneficially owns 190,628 shares; the filing clarifies that this total includes unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs). The Form 4 is a routine insider report disclosing a planned disposition of shares and the reporting officer’s aggregate holdings.

Positive

• Sale executed under a Rule 10b5-1 trading plan, indicating the transaction was prearranged and not opportunistic
• Filing discloses total beneficial ownership and explicitly notes inclusion of unvested RSUs and PSUs, improving transparency

Negative

• None.

Insights

Financial Analyst

TL;DR Routine insider sale under a 10b5-1 plan; small disclosed disposition relative to total holdings.

The sale of 2,500 shares at $132 per share was executed under a documented Rule 10b5-1 plan, which typically reduces ambiguity about insider timing and intent. The report shows aggregate beneficial ownership of 190,628 shares including unvested RSUs and PSUs, providing transparency on total economic exposure. No derivative transactions or additional disposals are reported. For investors, this is a standard disclosure rather than a material corporate event.

Corporate Governance Expert

TL;DR Disclosure aligns with best practices: trade executed under 10b5-1 plan and reported promptly.

The filing identifies the reporting person, role, and relationship to the issuer and documents the 10b5-1 plan date, which supports compliance with insider-trading policies. The inclusion of unvested RSUs and PSUs in the ownership total improves clarity on compensation-related holdings. The Form 4 contains standard elements and signatures, indicating adherence to regulatory reporting requirements.

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).

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^*

Rothenstein David M

(Last) (First) (Middle)

C/O CIENA CORPORATION

7035 RIDGE RD.

(Street)

HANOVER MD 21076-1426

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/15/2025		S		2,500(1)	D	$132	190,628(2)	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Sales were effected pursuant to Rule 10b5-1 trading plan dated 12/23/2024.

2. Shares reported include unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).

	By: Michelle Rankin For: David M Rothenstein	09/17/2025
	** 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.

FAQ

What transaction did CIEN insider David Rothenstein report on Form 4?

He reported a sale of 2,500 shares of CIEN common stock on 09/15/2025 at $132 per share.

Was the sale by the CIEN officer part of a trading plan?

Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan dated 12/23/2024.

How many CIEN shares does David Rothenstein beneficially own after the reported transaction?

The Form 4 reports beneficial ownership of 190,628 shares, which includes unvested RSUs and PSUs.

Does the Form 4 report any options, warrants, or other derivative transactions for this insider?

No. Table II for derivative securities contains no reported transactions in this filing.

What is David Rothenstein’s role at Ciena as listed on the Form 4?

He is listed as SVP and Chief Strategy Officer of Ciena Corporation.