On June 17, 2020, Charles Robbins, Chairman and Chief Executive Officer of Cisco Systems, Inc. (“Cisco”), adopted a pre-arranged stock trading plan to sell shares of Cisco stock. The plan is scheduled to terminate in August 2021.
On June 18, 2020, Kelly A. Kramer, Executive Vice President and Chief Financial Officer of Cisco, adopted a pre-arranged stock trading plan to sell shares of Cisco stock. The plan is scheduled to terminate in June 2021.
The transactions under the plans will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. The plans were adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and Cisco’s policies regarding stock transactions.
Rule 10b5-1 permits individuals who are not in possession of material, non-public information at the time the plan is adopted to establish pre-arranged plans to buy or sell company stock. Using these plans, individuals can prudently and gradually diversify their investment portfolios over an extended period of time.