Form 8-K · Current Report · Filed 2024-07-19
Cisco Systems Announces Departure of Executive Vice President Jeff Sharritts
On July 15, 2024, Cisco Systems, Inc. announced the departure of Jeff Sharritts, former Executive Vice President and Chief Customer and Partner Officer. Sharritts entered into a Separation Agreement in connection with his termination of employment as an executive advisor. The agreement provides for accelerated vesting of his time-based and performance-based restricted stock unit awards, and a cash payment of $2,585,710.91, which includes eighteen months of his annual base salary, his annual target bonus award, and 17 months of COBRA premiums. In return, Sharritts released all claims relating to his employment and agreed to comply with Cisco's Code of Business Conduct and related policies.
- Filer
- Cisco Systems, Inc. CSCO · NASDAQ
- Filed
- Accession
- 0000858877-24-000012
- CIK
- 0000858877
- Signal
- Low impactTechnology
- Source
- Official filing on sec.gov ↗
Items reported
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Market reaction
Close before filing
$48.04
Next session
-2.5%
Since filing
+141.4%
Latest close
$115.99
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from CSCO reporting the same item, with the next session's move:
Exhibits (1)
About Cisco Systems, Inc.
Cisco Systems, Inc. is a global leader in networking and IT. The company's core business is to design and sell a range of technologies that power the internet. Cisco is renowned for its routers, switches, cybersecurity solutions, and wireless systems, which serve as the backbone for digital communication networks worldwide. The company's products and solutions are crucial for the seamless operation of data centers, enterprise networks, and telecommunication infrastructures. Cisco Systems, Inc. plays a pivotal role in connecting businesses, governments, and individuals across multiple sectors, fostering the growth of cloud computing, IoT (Internet of Things), and remote work capabilities. With a focus on innovation and sustainability, Cisco continuously develops new technologies to enhance network performance and security. Based in San Jose, California, and founded in 1984, Cisco is a respected pioneer in its field, significantly contributing to the digital transformation initiatives of organizations globally. Its expansive reach and comprehensive portfolio make it a fundamental entity in shaping how we connect and communicate.
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