Gary B. Smith, President and CEO of Ciena (CIEN), has filed 86 Form 4 transactions across two companies since his first disclosure. The pattern is overwhelmingly one-sided: total open-market sales reached $57.6 million against just $313,200 in open-market purchases. All of the buying occurred in a single company, while the selling has been concentrated in CIEN.
The recent activity shows a steady cadence of sales. From January 15, 2026 through August 17, 2026, Smith executed 15 open-market sales of CIEN stock, with each transaction ranging from roughly $741,000 to $1.67 million. The most recent sale, on August 17, brought in $1.32 million. The sales have been spaced at roughly two-week intervals, with the largest single transaction being $1.67 million on June 1. In addition to the open-market sales, Smith had shares withheld to cover tax obligations on four occasions in June and March, with those automatic dispositions totaling about $3.85 million and $3.36 million respectively.
The other company in the filing set is Planet Labs (PL), where Smith received two grants in July 2026 with a value of $0, consistent with compensation awards rather than purchases. There have been no open-market buys of CIEN or PL in the recent window, and the total buy figure of $313,200 appears to be historical. The data shows a consistent seller of CIEN stock, with no recent purchases to offset the outflow.
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