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

Rhea-AI Filing Summary

Mark Patterson, identified as an officer (EVP and CFO) of Cisco Systems (CSCO), reported a partial settlement of restricted stock awards in which 4,690.914 shares were withheld to satisfy tax liabilities arising from those awards. After the withholding, the reporting person retains beneficial ownership of 165,098.086 shares on a direct basis. The transaction cites a per-share price of $71.79 and is described in the form as related to the partial settlement of three restricted stock awards.

This disclosure is a routine insider reporting of equity compensation settlement and tax withholding rather than an open-market purchase or sale; it documents the change in share count and confirms the executive’s continued direct ownership position.

Positive

• Tax liability satisfied via share withholding, avoiding an open-market sale and preserving executive ownership base of 165,098.086 shares
• Transaction explicitly tied to restricted stock settlement, clarifying the reason for share movement and reducing ambiguity for investors

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine tax-withholding from restricted stock leaves the CFO with 165,098.086 direct shares; not a market sale.

The Form 4 documents the partial settlement of three restricted stock awards for Cisco EVP/CFO Mark Patterson with 4,690.914 shares withheld to cover tax liabilities. The remaining 165,098.086 shares are held directly, which is a disclosure of compensation-related dilution rather than a liquidity-driven disposition. The reported per-share price of $71.79 indicates the valuation used for the withholding. For investors, this is informational about executive compensation mechanics and outstanding insider holdings, but it does not represent a directional market trade.

Corporate Governance Expert

TL;DR: Compensation settlement with tax withholding is standard governance disclosure; no governance red flags evident.

The explanation explicitly states the withheld shares were used to satisfy tax liabilities from the partial settlement of restricted stock awards originally reported in a Form 3. The filing shows the transaction was processed via share withholding rather than an open-market sale, which is a common practice to meet tax obligations while maintaining executive ownership. There is no indication in the disclosure of unusual timing, accelerated vesting, or related-party transactional concerns; the disclosure aligns with routine equity compensation 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).

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^*

Patterson Mark

(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 CFO

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		4,690.914(1)	D	$71.79	165,098.086	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 awards originally reported by the reporting person in Form 3 filed with the Commission on August 8, 2025.

Remarks:

	/s/ Mark Patterson 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 Cisco (CSCO) insider Mark Patterson report?

The Form 4 reports that 4,690.914 shares were withheld to pay taxes arising from the partial settlement of three restricted stock awards.

How many shares does Mark Patterson beneficially own after this transaction?

Following the withholding, the reporting person directly owns 165,098.086 shares.

What role does the reporting person hold at Cisco (CSCO)?

The reporting person is listed as an officer with the title EVP and CFO.

What price is shown on the Form 4 for the transaction?

The form shows a per-share price of $71.79 related to the withholding.

Why were shares withheld according to the Form 4?

The filing explains the shares were withheld to satisfy a tax liability resulting from the partial settlement of restricted stock awards.

Was this reported as a sale or open-market transaction?

No. The disclosure indicates the movement was share withholding to cover taxes tied to restricted stock settlement, not an open-market sale.