John Chambers dumped 26% (750,000 shares) of his Cisco stake while giving Cisco Live keynote speech May 19, 2014

"Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $24.12 to $24.445. The reporting person has provided to the issuer, and undertakes to provide to the staff of the Commission or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range."

Hummelstown, PA:   Wed, 5/21/14 - 11:59pm    View comments
 

Update 5/23/2014 - 7:45pm:

"CEO John Chambers unloads $50 million worth of stock."

Barron's: Cisco Insiders Sell $66 Million in Stock
 

Cisco CEO John Chambers talked the talk while appearing to walk the walk during his below keynote speech at Cisco Live 2-days ago:
 

However, appearances can be deceiving.

How so?

Well, according to an SEC Form 4 filed earlier today, Chambers dumped 750,000 shares (26%) of his total direct Cisco shareholdings on Monday, May 19, 2014 while he gave his keynote speech at Cisco Live in San Francisco.

Cisco's stock price on Monday, May 19, 2014 during Cisco Live keynote:

Source: Yahoo! Finance

Chambers' filing with the SEC gave the following interesting tidbit:

"Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $24.12 to $24.445. The reporting person has provided to the issuer, and undertakes to provide to the staff of the Commission or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range."

I mean, Chambers' acknowledges selling some of his Cisco shares at the intraday high!

John Chambers' last Form 4 filing with the SEC was on September 13, 2013 when he reported a direct Cisco shareholding of 2,809,723 shares.

Today's Form 4 filing shows that Chambers now has a direct Cisco shareholding of only 2,059,723 shares, that's 750,000 shares (26%) "lighter" than his last filing.

Related stories:

Barron's: Cisco Insiders Sell $66 Million in Stock

Cisco Systems: The greatest stock-laundering machine ever invented
 

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