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

Rhea-AI Filing Summary

Thimaya K. Subaiya, EVP, Operations at Cisco Systems (CSCO), reported an insider disposition on 09/10/2025. The filing shows 1,714.973 shares of Cisco common stock were withheld to pay tax obligations related to the partial settlement of two restricted stock unit awards at a price of $67.34 per share. After the transaction, the reporting person beneficially owned 159,752.632 shares (direct). The total beneficial ownership count includes 2,909.916 dividend equivalents accrued on unvested restricted stock units, each equivalent to one share. The Form 4 was signed by an attorney-in-fact on 09/11/2025.

Positive

• Transaction is administrative: shares were withheld solely to satisfy tax liabilities from RSU settlement, not an open-market sale
• Substantial retained ownership: reporting person continues to beneficially own 159,752.632 shares, indicating ongoing equity stake

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider tax-withholding reduced holdings modestly; transaction is routine and non-dispositive.

The reported disposal of 1,714.973 shares represents a withhold-to-cover tax event arising from partial settlement of RSUs, not an open-market sale. The per-share price of $67.34 is reported only as the withholding valuation. Beneficial ownership remains sizable at 159,752.632 shares and includes 2,909.916 dividend equivalents tied to unvested RSUs. From a securities perspective, this is a common administrative transaction with limited signaling about executive intent to divest beyond tax obligations.

Corporate Governance Expert

TL;DR: Administrative RSU tax withholding; no indication of change in board or executive role.

The Form 4 documents shares withheld to satisfy tax liabilities on RSU vesting. The reporting person is identified as an officer and director (EVP, Operations). No additional dispositions, pledges, or derivative exercises are reported. There is explicit inclusion of dividend equivalents on unvested RSUs (2,909.916), which the filer treats as economic equivalents to shares. This filing does not disclose any governance or compensation policy changes.

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

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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^*

Subaiya Thimaya K.

(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, Operations

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2025

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	09/10/2025		F		1,714.973(1)	D	$67.34	159,752.632(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 the partial settlement of two (2) restricted stock unit awards originally reported by the reporting person in a Form 3 filed with the Commission on March 14, 2024.

2. Includes 2,909.916 dividend equivalents accrued on unvested restricted stock units. Each dividend equivalent is the economic equivalent of one share of Cisco common stock.

Remarks:

	/s/ Thimaya K. Subaiya by Jay Higdon, Attorney-in-Fact	09/11/2025
	** 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.
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FAQ

What did Thimaya K. Subaiya report on the Form 4 for CSCO?

The filing reports that 1,714.973 shares were withheld to pay taxes related to partial settlement of two RSU awards on 09/10/2025.

How many Cisco shares does the reporting person own after the transaction?

After the reported transaction the reporting person beneficially owned 159,752.632 shares (direct).

What price was used for the withheld shares on the Form 4?

The filing lists a price of $67.34 per share for the withheld shares.

Do the holdings include dividend equivalents on unvested RSUs?

Yes, the beneficial ownership total includes 2,909.916 dividend equivalents accrued on unvested restricted stock units.

Who signed the Form 4 and when?

The Form 4 was executed by Thimaya K. Subaiya via attorney-in-fact Jay Higdon and dated 09/11/2025.