AI Infrastructure Beneficiary CEO Sells Additional Shares Worth Billions While Holding Stake Worth Hundreds of Billions

On May 1, May 15 and June 1, 2026, Gary B. Smith, President and CEO of Ciena Corporation (CIEN), sold 2,952 shares of the company’s common stock in each of three transactions under his Rule 10b5-1 trading plan.

Each sale occurred at prices ranging from approximately $522 to $566 per share, totaling about $1.6 million to $1.7 million (roughly KRW 20 billion) per transaction.

Following these transactions, Smith continues to beneficially own approximately 269,557 shares—inclusive of unvested RSUs and PSUs—equivalent to around $165 million (about KRW 220 billion) at current market prices.

In its Q1 2026 earnings released March 5, Ciena reported revenue of $1.43 billion, a 33% year-over-year increase, and adjusted EPS of $1.35, both topping analyst estimates. The company also raised its full-year revenue guidance to $5.9 billion–$6.3 billion.

At OFC 2026 in Los Angeles on March 10, Ciena introduced new AI-networking products—including 1.6 Tb coherent optical modules and high-density optical transport solutions—outlining a roadmap for ultra-high-speed connectivity for data centers and carrier networks.

Headquartered in Maryland, Ciena supplies high-speed optical transport equipment and network software to global telecom carriers and cloud providers. Since the early 2000s, CEO Smith has led the company’s expansion into optical transport, data centers and subsea cables, and he has recently emphasized ultra-wideband network investments to address growing AI workloads.