Cisco CFO Plans To Sell $6.4 Mln In Stock
dailynews.yahoo.com
Cisco Systems Inc. (Nasdaq:CSCO - news) Chief Financial Officer Larry Carter plans to sell $6.4 million in common stock
ahead of an options expiration, according to a Securities and Exchange Commission filing.
Carter, who has been with the San Jose, Calif.-based company since 1995, filed on Aug. 16 to sell 100,000 shares he received from exercising options,
valued at an estimated $6.4 million.
``The reason for doing that is because the options were expiring,' said Abby Smith, a spokeswoman for Cisco.
The CFO already sold 142,200 shares on Aug. 13, valued at an estimated $8.97 million, the filing said.
Cisco Systems, the world's leader in networking solutions for the Internet, had $1.452 billion in net income during the nine-month period ending May 1.
Carter earned $326,439 in salary last year, plus a $555,152 bonus, according to the company's proxy.
Additionally, Carl Redfield, the company's vice president for manufacturing, plans to sell 25,000 shares valued at an estimated $1.59 million, according to his filing with the SEC.
Redfield sold 50,000 shares on Aug. 13 valued at an estimated $3.15 million, the filing said.
FWIW,
Justin |
