Rothenstein David M, EVP and Chief Strategy Officer at Ciena Corporation, has filed 69 Form 4s covering a single ticker: CIEN. The pattern is one-directional. Across all filings, his open-market purchases total zero dollars, while his open-market sales total $12,284,755.50. He has not acquired a single share through a buy or a grant in the recent window; the only non-sale transactions are "F" codes, which are shares withheld automatically to cover tax obligations on vested equity.
The recent activity shows a steady cadence of sales. On September 15, 2026, Rothenstein sold CIEN shares worth $826,208.25. That followed a sale of $1,095,250 on August 14 and $1,052,284.25 on July 15. June brought $1,142,672.50, May $1,405,968.75, and April $1,169,134. The sales are roughly monthly, each in the six-to-seven-figure range, and they cluster around the middle of the month. The "F" transactions, which appear quarterly on dates like June 20 and September 20, are mechanical and tied to tax withholding, not discretionary trading.
The most recent nine filings break down as zero buys and nine sells, but that count includes five "F" codes on September 20, 2026, ranging from $71,155.20 to $282,876.80. Those are not decisions to sell; they are the issuer taking shares to cover taxes. The discretionary sales are the four "S" codes from January through September 2026, totaling roughly $4.1 million. Rothenstein has not bought CIEN stock on the open market in any filing covered here, and his selling has been consistent and recurring.
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