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EX-10.1 - CISCO SYSTEMS, INC. 2005 STOCK INCENTIVE PLAN - CISCO SYSTEMS, INC.d266515dex101.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): December 7, 2011

 

 

CISCO SYSTEMS, INC.

(Exact name of registrant as specified in its charter)

 

 

California

(State or other jurisdiction of incorporation)

 

0-18225   77-0059951
(Commission File Number)   (IRS Employer Identification No.)
170 West Tasman Drive, San Jose, California   95134-1706
(Address of principal executive offices)   (Zip Code)

(408) 526-4000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Amendment and Restatement of the 2005 Stock Incentive Plan

At the Annual Meeting of Shareholders of Cisco Systems, Inc. (“Cisco”) held on December 7, 2011, Cisco’s shareholders approved the amendment and restatement of the Cisco Systems, Inc. 2005 Stock Incentive Plan (the “SIP”). The amendment and restatement of the SIP was approved by Cisco’s Board of Directors (the “Board”), subject to the approval of Cisco’s shareholders, and became effective with such shareholder approval on December 7, 2011.

As a result of such shareholder approval, the SIP was materially amended and modified as follows:

 

   

The SIP will expire on the date of the 2021 annual meeting of shareholders.

 

   

Under the SIP, the definition of “Performance Goal” includes the additional performance factors of “total shareholder return,” “operating cash flow” and “operating expense” in accordance with Section 162(m) of the Internal Revenue Code of 1986, as amended.

A more complete description of the terms of the SIP and the material amendments and modifications thereto can be found in “Proposal No. 2—Approval of the Amendment and Restatement of the 2005 Stock Incentive Plan” (pages 17 through 25) in Cisco’s definitive proxy statement dated October 11, 2011, and filed with the Securities and Exchange Commission on October 18, 2011, which description is incorporated by reference herein. The foregoing descriptions and the description incorporated by reference from Cisco’s definitive proxy statement are qualified in their entirety by reference to the SIP, a copy of which is filed as Exhibit 10.1 to this report.

 

Item 5.07. Submission of Matters to a Vote of Security Holders.

The Annual Meeting of Shareholders of Cisco Systems, Inc. (“Cisco”) was held on December 7, 2011. At the Annual Meeting of Shareholders, the shareholders voted on the following eight proposals and cast their votes as follows:

 

Proposal 1: To elect twelve members of the Board:

 

Nominee

   For      Against      Abstained      Broker Non-Votes  

Carol A. Bartz

     3,181,410,125         72,796,295         11,909,452         979,992,997   

M. Michele Burns

     3,200,284,732         56,966,778         8,864,362         979,992,997   

Michael D. Capellas

     3,188,667,973         68,564,686         8,883,213         979,992,997   

Larry R. Carter

     3,201,299,580         55,829,857         8,986,435         979,992,997   

John T. Chambers

     3,114,382,699         136,652,257         15,080,916         979,992,997   

Brian L. Halla

     3,216,261,362         40,705,564         9,148,946         979,992,997   

Dr. John L. Hennessy

     2,811,292,623         445,858,537         8,964,712         979,992,997   

Richard M. Kovacevich

     2,986,703,857         270,269,932         9,142,083         979,992,997   

Roderick C. McGeary

     3,180,625,313         76,306,521         9,184,038         979,992,997   

Arun Sarin

     3,201,808,491         55,044,804         9,262,577         979,992,997   

Steven M. West

     3,171,315,488         85,576,595         9,223,789         979,992,997   

Jerry Yang

     3,168,366,745         85,834,145         11,914,982         979,992,997   

 

Proposal 2: To approve the amendment and restatement of the Cisco Systems, Inc. 2005 Stock Incentive Plan:

 

For

  

Against

  

Abstained

  

Broker Non-Votes

2,868,145,325    382,616,432    15,354,115    979,992,997


Proposal 3: To approve a non-binding advisory resolution regarding executive compensation:

 

For

  

Against

  

Abstained

  

Broker Non-Votes

3,073,284,421    134,132,875    58,698,576    979,992,997

 

Proposal 4: To determine, on a non-binding advisory basis, the frequency of holding future votes regarding executive compensation:

 

1 Year

  

2 Years

  

3 Years

  

Abstained

  

Broker Non-Votes

2,931,099,103    11,155,653    312,663,742    11,151,241    980,039,130

Based on the results of the vote, and consistent with the Board’s recommendation, the Board has determined to hold a non-binding advisory vote regarding executive compensation every year until the next required non-binding advisory vote on the frequency of holding future votes regarding executive compensation.

 

Proposal 5: To ratify the appointment of PricewaterhouseCoopers LLP as Cisco’s independent registered public accounting firm for the fiscal year ending July 28, 2012:

 

For

  

Against

  

Abstained

  

Broker Non-Votes

4,128,141,239    105,784,331    12,183,299    0

 

Proposal 6: A shareholder proposal to amend Cisco’s Bylaws to establish a Board Committee on Environmental Sustainability:

 

For

  

Against

  

Abstained

  

Broker Non-Votes

165,450,791    2,640,306,323    460,358,758    979,992,997

 

Proposal 7: A shareholder proposal requesting that the Board publish an Internet Fragmentation Report to shareholders within six months:

 

For

  

Against

  

Abstained

  

Broker Non-Votes

1,291,808,761    1,747,246,310    227,060,801    979,992,997

 

Proposal 8: A shareholder proposal requesting that Cisco executives retain a significant percentage of stock until two years following termination:

 

For

  

Against

  

Abstained

  

Broker Non-Votes

1,002,902,425    2,245,630,030    17,583,417    979,992,997

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.

  

Description of Document

10.1    Cisco Systems, Inc. 2005 Stock Incentive Plan (including related form agreements)


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

      CISCO SYSTEMS, INC.
Dated: December 8, 2011     By:   /s/ Frank A. Calderoni
    Name:   Frank A. Calderoni
    Title:  

Executive Vice President and

Chief Financial Officer


EXHIBIT INDEX

 

Exhibit Number

  

Description of Document

10.1    Cisco Systems, Inc. 2005 Stock Incentive Plan (including related form agreements)