Cisco Systems (CSCO) Chairman Chambers Enters Plan to Sell Up to 750K Shares
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On August 31, 2016, John T. Chambers, Executive Chairman of Cisco Systems, Inc. (NASDAQ: CSCO), adopted a pre-arranged stock trading plan to sell up to 750,000 shares of Cisco stock. The plan is scheduled to terminate in September 2017.
The transactions under the plan will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. The plan was 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.
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