[Form 4] CISCO SYSTEMS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Oliver Tuszik, Executive Vice President, Global Sales at Cisco Systems (CSCO), reported a grant of 59,764 restricted stock units on 09/16/2025. The award is a non‑cash grant (price $0) and vests in installments: 34% of the shares vest on November 10, 2026, with subsequent quarterly vesting of 8.25%. Following the grant, Tuszik is reported to beneficially own 216,380.62 shares, which includes 184.93 dividend equivalents accrued on unvested RSUs. The filing is signed by attorney‑in‑fact Jay Higdon on behalf of Tuszik on 09/18/2025.

Positive

• Significant retention incentive: 59,764 RSUs with multi‑year vesting supports executive retention
• Dividend equivalents included: 184.93 dividend equivalents accrue on unvested RSUs, preserving economic value for the executive

Negative

• No performance conditions disclosed: The award appears solely time‑based, offering less direct linkage to company performance
• Concentration of vesting: 34% vests on a single future date, creating a large discrete payout event

Insights

Corporate Governance Expert

TL;DR: A standard executive RSU grant with multi‑year vesting; aligns executive incentives with long‑term performance.

The filing documents a time‑based restricted stock unit award of 59,764 RSUs to the EVP, Global Sales. The vesting schedule frontloads 34% on a single date and continues with quarterly tranches of 8.25%, which suggests a structured retention mechanism over multiple years. The inclusion of 184.93 dividend equivalents indicates customary pay‑through on unvested units. No transfers, sales, or derivative transactions are reported. Impact is routine and protocol‑consistent for senior executives.

Compensation Analyst

TL;DR: Grant size and vesting pattern are consistent with retention-focused executive compensation; no immediate cash impact.

The RSU award carries a $0 transaction price, confirming it is a grant rather than a purchase. The reported beneficial ownership post‑grant is 216,380.62 shares, which aggregates existing holdings and newly granted units plus dividend equivalents. The vesting timeline (partial vest in Nov 2026 then quarterly) stages value realization and aligns with typical long‑term incentive design. The filing contains no performance condition details and therefore reflects time‑based compensation only.

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).

1. Name and Address of Reporting Person^*

Tuszik Oliver

(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, Global Sales

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

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	09/16/2025		A		59,764(1)	A	$0	216,380.62(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 a restricted stock unit award that vests in installments, with thirty-four percent (34%) of the shares vesting on November 10, 2026 and eight-and-one-quarter percent (8.25%) of the shares vesting quarterly thereafter.

2. Includes 184.93 dividend equivalents accrued on unvested restricted stock units. Each dividend equivalent is the economic equivalent of one share of Cisco common stock.

Remarks:

	/s/ Oliver Tuszik by Jay Higdon, Attorney-in-Fact	09/18/2025
	** 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 RSU grant did Oliver Tuszik report on Form 4 for CSCO?

The filing reports a grant of 59,764 restricted stock units to Oliver Tuszik, reported on 09/16/2025.

What is the vesting schedule for the RSUs reported by Tuszik?

The RSUs vest 34% on November 10, 2026 and then 8.25% quarterly thereafter.

How many shares does Tuszik beneficially own after the reported transaction?

The filing shows Tuszik beneficially owns 216,380.62 shares following the reported grant.

Are there dividend equivalents associated with the RSUs?

Yes. The filing includes 184.93 dividend equivalents accrued on unvested restricted stock units.

Was any cash consideration reported for the transaction?

No. The transaction price is reported as $0, indicating a grant rather than a purchase.