SMITH GARY B

SMITH GARY B, President and CEO, has demonstrated a pronounced selling bias in recent insider transactions, with $72.8 million in total sales compared to just $313 in buys across two companies—CIENA Corporation (CIEN) and Planet Labs PBC (PL). The vast majority of activity centers on CIEN, where Smith executed 10 sales since January 2026, including a $19.2 million disposition on January 5 and a cluster of mid-six-figure sales between February and March 2026. The only buy activity—a negligible $253.7 PL sale in November 2025 and $313 in CIEN acquisitions—appears incidental against the backdrop of systematic CIEN divestment. Notably, Smith’s CIEN sales have been methodical, with transactions ranging from $741,209 to $1.9 million in early 2026, followed by a March 16 sale worth $1.06 million. The sales coincide with periodic stock awards (coded "F"), including a December 20, 2025, grant valued at $13.2 million, though these awards were immediately offset by disposals. The absence of any recent purchases and the scale of monetization—particularly the $19.2 million January sale—suggest a deliberate reduction in exposure to CIEN equity. Activity in PL is minimal, limited to a single small sale, making CIEN the clear focus of Smith’s trading pattern.