Cisco Systems (NASDAQ: CSCO) board member Pete A. Shimer has filed an initial statement of beneficial ownership with the U.S. Securities and Exchange Commission following his appointment as a director.
According to the Form 3 filing dated April 6, 2026, Shimer reported no direct or indirect beneficial ownership of Cisco’s common stock at the time of disclosure. The filing was made in compliance with Section 16(a) of the Securities Exchange Act of 1934, which requires newly appointed directors to disclose their holdings in company securities.
In a subsequent Form 4 filing, Shimer disclosed the acquisition of 2,333 shares of Cisco common stock on April 6, 2026. The shares were granted as fully vested deferred restricted stock units and are expected to be settled in shares upon his separation from service, in accordance with applicable tax provisions.
The filing noted that the transaction was recorded at a price of $0, reflecting the nature of the equity award rather than a market purchase. Following the transaction, Shimer reported beneficial ownership of 2,333 shares held directly.
