[Form 4] Cisco Systems, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Deborah L. Stahlkopf, EVP and Chief Legal Officer of Cisco Systems (CSCO), had 6,347.525 shares withheld on 08/10/2025 under transaction code F. The form explains these withheld shares were used to satisfy a tax liability arising from the partial settlement of three restricted stock unit awards and the partial settlement of accrued dividend equivalents.

After the withholding, the reporting person beneficially owned 171,445.414 shares of Cisco common stock. The withholding was executed at a reported price of $71.79 per share. The filing also details the composition of accrued dividend equivalents: 1,412 on vested deferred RSUs, 991 on unvested deferred RSUs and 4,851 on unvested RSUs.

Positive

• Reporting person retains beneficial ownership of 171,445.414 shares, showing continued direct ownership
• Transaction was a tax-withholding on RSU settlement, indicating compensation administration rather than a market sale

Negative

• None.

Insights

Securities Analyst

Routine tax-withholding on RSU settlement; minimal market impact.

The transaction is a standard administrative withholding (transaction code F) tied to the partial settlement of restricted stock units and accrued dividend equivalents. The size of the withheld block (6,347.525 shares) is small relative to the issuer's public float and the reporting person retains 171,445.414 shares, indicating continued alignment with shareholder interests. There is no indication of open-market disposition or a change in ownership intent. This filing is informational and not material to company valuation.

Corporate Governance Expert

Compensation-related withholding documented; governance impact is routine and administrative.

The explanation specifies the withholding covered tax liabilities from partial RSU settlements and dividend equivalents, which is common in executive compensation settlements. The breakdown of dividend equivalents is explicit and the report confirms direct ownership form. From a governance perspective, the filing shows compliance with Section 16 reporting and transparent disclosure of the nature of the transaction. No governance red flags are present.

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
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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^*

Stahlkopf Deborah L

(Last) (First) (Middle)

170 WEST TASMAN DRIVE

(Street)

SAN JOSE CA 95134

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CISCO SYSTEMS, INC. [ CSCO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and Chief Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/10/2025

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	08/10/2025		F		6,347.525(1)	D	$71.79	171,445.414(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. Represents shares withheld for payment of tax liability arising as a result of the partial settlement of three (3) restricted stock unit awards originally reported by the reporting person in Forms 4 filed with the Commission on September 22, 2021, October 13, 2022 and September 25, 2023, and the partial settlement of dividend equivalents accrued on the restricted stock units.

2. Includes 1,412 dividend equivalents accrued on vested deferred restricted stock units, 991 dividend equivalents accrued on unvested deferred restricted stock units and 4,851 dividend equivalents accrued on unvested restricted stock units. Each dividend equivalent is the economic equivalent of one share of Cisco common stock.

Remarks:

	/s/ Deborah L. Stahlkopf by Jay Higdon, Attorney-in-Fact	08/12/2025
	** 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 CSCO insider Deborah Stahlkopf report on 08/10/2025?

The filing reports a transaction code F on 08/10/2025 where 6,347.525 shares were withheld to satisfy tax liabilities from partial settlements of restricted stock units and dividend equivalents.

How many Cisco shares does Deborah Stahlkopf beneficially own after the reported transaction?

After the withholding, the reporting person beneficially owned 171,445.414 shares of Cisco common stock.

At what price were the withheld shares reported?

The withheld shares were reported at a price of $71.79 per share.

What do the explanation footnotes say about dividend equivalents?

The filing states the total includes 1,412 dividend equivalents on vested deferred RSUs, 991 on unvested deferred RSUs, and 4,851 on unvested RSUs.

Was this Form 4 filing related to an open-market sale?

No. The form explains the action was withholding of shares to pay taxes on RSU settlements, not an open-market sale.