'Cisco' CEO Sells Shares Amid AI Rally, Cashing Out Millions

Major executives of U.S. networking equipment provider Cisco Systems, Inc. (Nasdaq: CSCO) have disclosed modest share sales under pre‐arranged Rule 10b5-1 trading plans.

On May 22, CEO Charles Robbins sold approximately 21,400 shares on the open market at an average price between $118 and $120 per share, generating roughly $2.55 million in proceeds. Following the transaction, he still holds about 630,000 shares, including dividend‐equivalent units.

Earlier, on May 15, President and Chief Product Officer Jitendra Patel and Executive Vice President of Global Sales Oliver Tuszik each disposed of stakes valued at about $1.19 million and $316,000, respectively, while retaining several hundred thousand shares apiece.

Separately, on May 13 Cisco reported record third-quarter results for fiscal 2026, with revenue of $15.8 billion and diluted earnings per share of $1.06. To support further investment in growth areas such as AI and security, the company also announced a workforce reduction of approximately 4,000 positions and restructuring charges of up to $1 billion.

At its “Cisco Live US” event in Las Vegas on June 2, Cisco unveiled its new Agentic platform—combining AI-driven agent security with quantum-resistant encryption—to operate and defend critical IT infrastructure, along with a unified console called Cisco Cloud Control. The announcements underscored Cisco’s strategic shift toward an AI- and security-centric networking model.

Headquartered in San Jose, California, Cisco is a leading global provider of networking, cybersecurity, and AI infrastructure solutions, with a broad portfolio spanning switches, routers, security software, and collaboration tools. Since assuming the CEO role in 2015, Charles Robbins has guided the company away from a hardware-centric model, expanding its subscription-based software, security, and AI networking offerings. He has cited growing AI-related orders from data centers and hyperscalers as key drivers of Cisco’s recent performance growth.