secwatch.observer — SEC 8-K summary
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Issuer:     CISCO SYSTEMS, INC. (CSCO)
CIK:        0000858877
Form:       8-K
Filed at:   2023-10-10T23:59:59+00:00
Accession:  0000858877-23-000025
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Three Cisco directors not standing for re-election; PayPal's former CEO Daniel Schulman appointed to board
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- M. Michele Burns, Roderick C. McGeary, and Dr. Lisa T. Su will not stand for re-election at the 2023 annual meeting.
- Daniel H. Schulman, former President and CEO of PayPal, appointed to Cisco's board effective October 10, 2023.
- Schulman receives standard non-employee director compensation: pro-rata $80k annual cash retainer and pro-rata $245k initial equity award.
- Schulman's committee assignments have not yet been determined; he entered into Cisco's standard indemnification agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/858877/000085887723000025/0000858877-23-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/858877/000085887723000025/csco-20231004.htm
  HTML page:      https://secwatch.observer/filing/0000858877-23-000025

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer