SMITH GARY B 4

What Happened
Gary B. Smith, President, CEO and a director of Ciena Corp (CIEN), sold 2,952 shares in an open-market disposition on February 17, 2026. The weighted average sale price was $299.51, generating proceeds of approximately $884,157. The sales are reported as routine dispositions rather than purchases.

Key Details

• Transaction date: 2026-02-17 (reported on Form 4 filed 2026-02-19) — filing appears timely.
• Transaction type/code: Sale (S) — open market (per Form 4).
• Shares sold: 2,952; weighted average price $299.51; reported price range $287.74 to $307.58.
• Proceeds: ~$884,157.
• Footnotes: Sales executed under a Rule 10b5-1 trading plan dated 10/04/2025 (F1). The weighted average reflects a range of sales; SEC can request per-price breakdown (F2). Reported holdings include unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) (F3).
• Shares owned after transaction: Not specified in the provided filing.

Context
Sales under a Rule 10b5-1 plan are pre-arranged and common for insiders to manage holdings or diversification; they are not necessarily a signal about company fundamentals. This was a sale (not a purchase or option exercise), so it’s a routine insider disposition rather than a bullish insider buy.