US Telecom Equipment CEO Sells Millions in Stock for Two Consecutive Weeks

Ciena Corporation (CIEN) President and CEO Gary B. Smith sold 2,952 shares of company stock on the open market on May 1 and again on May 15 under a pre-established Rule 10b5-1 trading plan, raising approximately USD 1.59 million and USD 1.66 million per transaction (roughly KRW 2.1 billion and KRW 2.2 billion). According to the filing, Smith still holds about 270,000 shares of Ciena common stock—including RSUs and PSUs—representing an equity stake valued at approximately USD 148 million (around KRW 200 billion) at current share prices.

Ciena also announced that it will release its fiscal 2026 second-quarter results before the U.S. market opens on June 4, followed by a management webcast later that day. The company beat revenue and earnings estimates in the first quarter but simultaneously lowered its full-year revenue guidance, drawing investor attention to the sustainability of growth and valuation amid AI data-center demand.

Headquartered in Maryland, Ciena supplies high-speed optical networking equipment and related software to telecom carriers, cloud providers and data centers. Smith, who has served as CEO since 2001, is leading the expansion of Ciena’s high-speed optical transport and data-center networking business to support AI and cloud infrastructure investments.