Cisco CEO and Executives Sell Shares Worth Billions Amid Stock Surge

On May 15 and 22, three senior executives at Cisco Systems, Inc. (NASDAQ: CSCO) sold shares of the company’s common stock on the open market under pre-arranged Rule 10b5-1 trading plans. CEO Charles Robbins disposed of approximately $25.5 million—about KRW 3.4 billion—of stock on May 22. President and Chief Product Officer Jitendra Patel and Senior Vice President of Global Sales Oliver Tuszik sold roughly $1.19 million and $310,000 (about KRW 1.6 billion and KRW 400 million), respectively, on May 15. According to the SEC filings, all three officers still hold several hundred thousand shares of Cisco following these transactions.

In its fiscal 2026 third quarter, announced on May 13, Cisco reported revenue of $15.8 billion, representing double-digit year-over-year growth. At the same time, the company unveiled a restructuring plan to sharpen its focus on AI-related growth areas—this includes cutting about 4,000 jobs (roughly 5% of its global workforce) and taking up to $1 billion (approximately KRW 1.3 trillion) in one-time charges. Following the earnings release and restructuring announcement, Cisco’s share price jumped by double digits to near all-time highs, driven by heightened expectations for its AI infrastructure and security businesses.

Headquartered in San Jose, California, Cisco Systems is a leading global provider of networking and security equipment, supplying Internet infrastructure switches and routers, cybersecurity solutions, and AI-optimized data center networking hardware to carriers and enterprise customers worldwide. Since becoming CEO in 2015, Charles Robbins has steered the company’s expansion into cloud, security, and AI infrastructure, and he emphasized continued AI networking demand as a key growth driver in the latest earnings call.