Ciena, Time Warner Telecom CEOs cash in

Rising stock prices in December gave some telecom executives the opportunity to get their hands on some extra cash heading into the holidays.

Ciena’s chief executive and financial officers Gary Smith and Joe Chinnici both cashed in their company’s stock to collect more than half a million dollars each. Smith sold nearly 26,000 shares (less than 5% of his total) at slightly more than $28 apiece for a total of $729,056.63. He still owns 538,103 shares. Chinnici sold more than 21,000 shares (nearly a third of his holdings) at $28.60 apiece, collecting $615,210. He still owns nearly 38,000 shares directly and more than 8,000 through a trust.

Ciena’s stock price climbed in mid-December following the company’s return to quarterly and annual profitability.

Time Warner Telecom CEO Larissa Herda in December sold 25,000 shares of her company’s stock at $20.02, giving her $500,500. She still holds more than 118,000 shares.