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

Rhea-AI Filing Summary

Insider acquisition of Cisco common stock via vested deferred RSUs: Director Kevin Weil reported an acquisition on 09/15/2025 of 407 shares tied to fully vested deferred restricted stock units granted in lieu of his cash retainer, at an attributable price of $67.02 per share. The filing states these awards will settle in shares on, or soon after, the reporting person's separation from service under Section 409A. After the reported transaction, Mr. Weil beneficially owned 2,897.794 shares directly (which includes 14.794 dividend equivalents) and 1,402.584 shares indirectly through a trust. The Form 4 was signed on 09/17/2025 by an attorney-in-fact.

Positive

• Director aligned with shareholders via conversion of cash retainer into equity (407 shares acquired)
• Full disclosure of vesting/settlement terms under Section 409A and inclusion of dividend equivalents (14.794)

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine director compensation converted to equity; modest increase in direct holdings, no sale or lending activity reported.

The transaction reflects a common practice of converting cash retainer fees into deferred restricted stock units that vest and settle in shares. The acquisition of 407 shares at an attributable price of $67.02 modestly increases the director's direct stake to 2,897.794 shares, including 14.794 dividend equivalents. This is a non-cash, compensation-driven acquisition rather than an open-market purchase, and the units settle upon separation under Section 409A constraints. For investors, this is a routine governance/compensation disclosure with limited immediate market impact.

Corporate Governance Expert

TL;DR: Standard director equity compensation; terms and settlement timing disclosed, no governance concerns evident from the filing.

The filing clearly states the award is a fully vested deferred restricted stock unit granted in lieu of cash retainer fees and subject to settlement upon separation from service. Inclusion of dividend equivalents is disclosed (14.794 shares). Beneficial ownership is split between direct and indirect holdings via a trust, and there are no dispositions, derivative positions, or unusual encumbrances reported. This is a routine disclosure consistent with director compensation practices and does not by itself indicate material governance or control 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).

1. Name and Address of Reporting Person^*

Weil Kevin

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

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		A		407(1)	A	$67.02	2,897.794(2)	D
Common Stock								1,402.584	I	By Trust

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 fully vested deferred restricted stock unit award covering shares in lieu of the reporting person's cash retainer fees which will settle in shares on, or as soon as practicable after, the reporting person's "separation from service" to Cisco within the meaning of Section 409A of the Internal Revenue Code.

2. Includes 14.794 dividend equivalents accrued on vested deferred restricted stock units. Each dividend equivalent is the economic equivalent of one share of Cisco common stock.

Remarks:

	/s/ Kevin Weil by Jay Higdon, Attorney-in-Fact	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 did Kevin Weil report on Form 4 for CSCO?

He reported an acquisition on 09/15/2025 of 407 shares tied to fully vested deferred restricted stock units, at an attributable price of $67.02 per share.

How many Cisco shares does Kevin Weil beneficially own after the transaction?

Following the transaction he beneficially owned 2,897.794 shares directly (including 14.794 dividend equivalents) and 1,402.584 shares indirectly through a trust.

Are these shares from an open-market purchase or compensation?

The filing states the shares represent a fully vested deferred restricted stock unit award granted in lieu of cash retainer fees, not an open-market purchase.

When will the deferred restricted stock units settle into shares?

They will settle in shares on, or as soon as practicable after, the reporting person's separation from service to Cisco within the meaning of Section 409A.

Was the Form 4 signed and when?

Yes; the signature by an attorney-in-fact is dated 09/17/2025.