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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Nov. 02, 2024
Oct. 28, 2023
Oct. 29, 2022
Oct. 30, 2021
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table

Pay versus performance table

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value of Initial Fixed $100 Investment Based On: (3)

 

 

 

 

 

 

 

 

Fiscal Year (1)

 

Summary Compensation Table (SCT)Total for PEO

Compensation Actually Paid (CAP) to PEO (2)

Average SCT Total for Non-PEO NEOs

Average CAP to Non-PEO NEOs (2)

Ciena Total Shareholder Return (TSR)

Peer Group TSR

Net Income
(in thousands)

Ciena Revenue (4)
(in thousands)

2024

 

$

 

14,076,773

 

 

$

 

23,208,434

 

 

$

 

3,507,354

 

 

$

 

5,365,965

 

 

$

 

144.53

 

 

$

 

109.00

 

 

$

 

83,956

 

 

$

 

4,014,955

 

 

2023

 

$

 

15,431,410

 

 

$

 

10,330,867

 

 

$

 

3,956,502

 

 

$

 

2,894,005

 

 

$

 

88.69

 

 

$

 

79.54

 

 

$

 

254,827

 

 

$

 

4,386,549

 

 

2022

 

$

 

12,017,980

 

 

$

 

8,210,990

 

 

$

 

3,200,888

 

 

$

 

2,227,016

 

 

$

 

88.93

 

 

$

 

105.69

 

 

$

 

152,902

 

 

$

 

3,632,661

 

 

2021

 

$

 

11,450,851

 

 

$

 

22,399,417

 

 

$

 

3,082,875

 

 

$

 

5,147,573

 

 

$

 

114.00

 

 

$

 

142.96

 

 

$

 

500,196

 

 

$

 

3,620,684

 

 

 

(1)
Mr. Smith was the principal executive officer ("PEO") for all four fiscal years in the table. For fiscal 2021-2023, Messrs. Moylan, McFeely, Phipps, and Rothenstein were the Non-PEO NEOs. For fiscal 2024, Messrs. Moylan, DiPerna, Phipps, and Rothenstein were the Non-PEO NEOs.
(2)
The dollar amounts reported represent the amount of "compensation actually paid" ("CAP"), as calculated in accordance with Item 402(v) of Regulation S-K and do not reflect the actual amounts of compensation earned by or paid to our NEOs during the applicable fiscal year. For purposes of calculating CAP, the fair value of equity awards is calculated in accordance with FASB ASC Topic 718 using the same assumption methodologies used to calculate the grant date fair value of awards for purposes of the Summary Compensation Table (refer to "Executive Compensation — Fiscal 2024 Summary Compensation Table" for additional information). The Change in Fair Value of Outstanding and Unvested Equity Awards, Year-Over-Year and CAP used in the table for 2021, 2022, and 2023 reflect corrections to the fair value of earned but unvested MSU awards as compared to the values used in the proxy statement for our 2024 Annual Meeting (the “2024 Proxy Statement”). As corrected, the calculation of these amounts uses the fair value of the actual number of shares earned by each NEO at the end of the relevant measurement period rather than the target number of shares. In the 2024 Proxy Statement, the amounts for the Change in Fair Value of Outstanding and Unvested Equity Awards, Year-Over-Year and CAP were understated by $3,410,941 and $598,948 for fiscal 2021, overstated by $962,532 and $172,979 for 2022, and overstated by $392,686 and $70,559 for 2023, in each case with respect to the PEO and the Non-PEO NEOs, respectively.

 

 

Fiscal 2024

 

Fiscal 2023

 

Fiscal 2022

 

Fiscal 2021

 

 

PEO

 

Average Non-PEO NEOs

 

PEO

 

Average Non-PEO NEOs

 

PEO

 

Average Non-PEO NEOs

 

PEO

 

Average Non-PEO NEOs

 

Summary Compensation Table (SCT) Total

$

 

14,076,773

 

$

 

3,507,354

 

$

 

15,431,410

 

$

 

3,956,502

 

$

 

12,017,980

 

$

 

3,200,888

 

$

 

11,450,851

 

$

 

3,082,875

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deduction for Amounts Reported as "Stock Awards" in SCT

 

 

(12,069,792

)

 

 

(2,612,077

)

 

 

(12,933,210

)

 

 

(2,871,987

)

 

 

(11,005,780

)

 

 

(2,644,856

)

 

 

(8,589,251

)

 

 

(1,849,692

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Increase for Fair Value of Equity Awards Granted in the Year and Unvested as of Year End

 

 

14,023,720

 

 

 

3,047,358

 

 

 

7,444,016

 

 

 

1,696,980

 

 

 

5,808,224

 

 

 

1,396,651

 

 

 

10,365,414

 

 

 

2,141,480

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Increase for Fair Value of Equity Awards Granted and Vested in the Year

 

 

983,792

 

 

 

270,087

 

 

 

857,427

 

 

 

247,599

 

 

 

486,233

 

 

 

148,357

 

 

 

718,030

 

 

 

193,519

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in Fair Value of Outstanding and Unvested Equity Awards, Year-Over-Year

 

 

5,554,341

 

 

 

1,003,205

 

 

 

(555,276

)

 

 

(148,410

)

 

 

(3,145,110

)

 

 

(603,900

)

 

 

4,527,985

 

 

 

909,187

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in Fair Value of Equity Awards Vested, Granted in a Previous Year

 

 

639,600

 

 

 

150,038

 

 

 

86,500

 

 

 

13,321

 

 

 

4,049,443

 

 

 

729,875

 

 

 

3,926,389

 

 

 

670,203

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Compensation Actually Paid

$

 

23,208,434

 

$

 

5,365,965

 

$

 

10,330,867

 

$

 

2,894,005

 

$

 

8,210,990

 

$

 

2,227,016

 

$

 

22,399,417

 

$

 

5,147,573

 

 

(3)
Ciena and Peer Group TSR was determined based on an initial fixed investment of $100 on October 30, 2020. Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between Ciena’s share price at the end and the beginning of the measurement period by our share price at the beginning of the measurement period. The Peer Group TSR set forth in the Pay Versus Performance Table was determined using the S&P Networking Index, a published industry or line-of-business index which we also used in preparing the stock performance graph included in our 2024 Form 10-K as required by Item 201(e) of Regulation S-K.
(4)
We have determined that revenue is the financial performance measure that, in Ciena’s assessment, represents the most important financial performance measure used to link "compensation actually paid" to our NEOs for fiscal 2024 to company performance.
     
Company Selected Measure Name Revenue      
Named Executive Officers, Footnote Messrs. Moylan, DiPerna, Phipps, and Rothenstein were the Non-PEO NEOs.      
Peer Group Issuers, Footnote
(3)
Ciena and Peer Group TSR was determined based on an initial fixed investment of $100 on October 30, 2020. Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between Ciena’s share price at the end and the beginning of the measurement period by our share price at the beginning of the measurement period. The Peer Group TSR set forth in the Pay Versus Performance Table was determined using the S&P Networking Index, a published industry or line-of-business index which we also used in preparing the stock performance graph included in our 2024 Form 10-K as required by Item 201(e) of Regulation S-K.
     
PEO Total Compensation Amount $ 14,076,773 $ 15,431,410 $ 12,017,980 $ 11,450,851
PEO Actually Paid Compensation Amount $ 23,208,434 10,330,867 8,210,990 22,399,417
Adjustment To PEO Compensation, Footnote
(2)
The dollar amounts reported represent the amount of "compensation actually paid" ("CAP"), as calculated in accordance with Item 402(v) of Regulation S-K and do not reflect the actual amounts of compensation earned by or paid to our NEOs during the applicable fiscal year. For purposes of calculating CAP, the fair value of equity awards is calculated in accordance with FASB ASC Topic 718 using the same assumption methodologies used to calculate the grant date fair value of awards for purposes of the Summary Compensation Table (refer to "Executive Compensation — Fiscal 2024 Summary Compensation Table" for additional information). The Change in Fair Value of Outstanding and Unvested Equity Awards, Year-Over-Year and CAP used in the table for 2021, 2022, and 2023 reflect corrections to the fair value of earned but unvested MSU awards as compared to the values used in the proxy statement for our 2024 Annual Meeting (the “2024 Proxy Statement”). As corrected, the calculation of these amounts uses the fair value of the actual number of shares earned by each NEO at the end of the relevant measurement period rather than the target number of shares. In the 2024 Proxy Statement, the amounts for the Change in Fair Value of Outstanding and Unvested Equity Awards, Year-Over-Year and CAP were understated by $3,410,941 and $598,948 for fiscal 2021, overstated by $962,532 and $172,979 for 2022, and overstated by $392,686 and $70,559 for 2023, in each case with respect to the PEO and the Non-PEO NEOs, respectively.

 

 

Fiscal 2024

 

Fiscal 2023

 

Fiscal 2022

 

Fiscal 2021

 

 

PEO

 

Average Non-PEO NEOs

 

PEO

 

Average Non-PEO NEOs

 

PEO

 

Average Non-PEO NEOs

 

PEO

 

Average Non-PEO NEOs

 

Summary Compensation Table (SCT) Total

$

 

14,076,773

 

$

 

3,507,354

 

$

 

15,431,410

 

$

 

3,956,502

 

$

 

12,017,980

 

$

 

3,200,888

 

$

 

11,450,851

 

$

 

3,082,875

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deduction for Amounts Reported as "Stock Awards" in SCT

 

 

(12,069,792

)

 

 

(2,612,077

)

 

 

(12,933,210

)

 

 

(2,871,987

)

 

 

(11,005,780

)

 

 

(2,644,856

)

 

 

(8,589,251

)

 

 

(1,849,692

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Increase for Fair Value of Equity Awards Granted in the Year and Unvested as of Year End

 

 

14,023,720

 

 

 

3,047,358

 

 

 

7,444,016

 

 

 

1,696,980

 

 

 

5,808,224

 

 

 

1,396,651

 

 

 

10,365,414

 

 

 

2,141,480

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Increase for Fair Value of Equity Awards Granted and Vested in the Year

 

 

983,792

 

 

 

270,087

 

 

 

857,427

 

 

 

247,599

 

 

 

486,233

 

 

 

148,357

 

 

 

718,030

 

 

 

193,519

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in Fair Value of Outstanding and Unvested Equity Awards, Year-Over-Year

 

 

5,554,341

 

 

 

1,003,205

 

 

 

(555,276

)

 

 

(148,410

)

 

 

(3,145,110

)

 

 

(603,900

)

 

 

4,527,985

 

 

 

909,187

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in Fair Value of Equity Awards Vested, Granted in a Previous Year

 

 

639,600

 

 

 

150,038

 

 

 

86,500

 

 

 

13,321

 

 

 

4,049,443

 

 

 

729,875

 

 

 

3,926,389

 

 

 

670,203

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Compensation Actually Paid

$

 

23,208,434

 

$

 

5,365,965

 

$

 

10,330,867

 

$

 

2,894,005

 

$

 

8,210,990

 

$

 

2,227,016

 

$

 

22,399,417

 

$

 

5,147,573

 

     
Non-PEO NEO Average Total Compensation Amount $ 3,507,354 3,956,502 3,200,888 3,082,875
Non-PEO NEO Average Compensation Actually Paid Amount $ 5,365,965 2,894,005 2,227,016 5,147,573
Adjustment to Non-PEO NEO Compensation Footnote
(2)
The dollar amounts reported represent the amount of "compensation actually paid" ("CAP"), as calculated in accordance with Item 402(v) of Regulation S-K and do not reflect the actual amounts of compensation earned by or paid to our NEOs during the applicable fiscal year. For purposes of calculating CAP, the fair value of equity awards is calculated in accordance with FASB ASC Topic 718 using the same assumption methodologies used to calculate the grant date fair value of awards for purposes of the Summary Compensation Table (refer to "Executive Compensation — Fiscal 2024 Summary Compensation Table" for additional information). The Change in Fair Value of Outstanding and Unvested Equity Awards, Year-Over-Year and CAP used in the table for 2021, 2022, and 2023 reflect corrections to the fair value of earned but unvested MSU awards as compared to the values used in the proxy statement for our 2024 Annual Meeting (the “2024 Proxy Statement”). As corrected, the calculation of these amounts uses the fair value of the actual number of shares earned by each NEO at the end of the relevant measurement period rather than the target number of shares. In the 2024 Proxy Statement, the amounts for the Change in Fair Value of Outstanding and Unvested Equity Awards, Year-Over-Year and CAP were understated by $3,410,941 and $598,948 for fiscal 2021, overstated by $962,532 and $172,979 for 2022, and overstated by $392,686 and $70,559 for 2023, in each case with respect to the PEO and the Non-PEO NEOs, respectively.

 

 

Fiscal 2024

 

Fiscal 2023

 

Fiscal 2022

 

Fiscal 2021

 

 

PEO

 

Average Non-PEO NEOs

 

PEO

 

Average Non-PEO NEOs

 

PEO

 

Average Non-PEO NEOs

 

PEO

 

Average Non-PEO NEOs

 

Summary Compensation Table (SCT) Total

$

 

14,076,773

 

$

 

3,507,354

 

$

 

15,431,410

 

$

 

3,956,502

 

$

 

12,017,980

 

$

 

3,200,888

 

$

 

11,450,851

 

$

 

3,082,875

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deduction for Amounts Reported as "Stock Awards" in SCT

 

 

(12,069,792

)

 

 

(2,612,077

)

 

 

(12,933,210

)

 

 

(2,871,987

)

 

 

(11,005,780

)

 

 

(2,644,856

)

 

 

(8,589,251

)

 

 

(1,849,692

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Increase for Fair Value of Equity Awards Granted in the Year and Unvested as of Year End

 

 

14,023,720

 

 

 

3,047,358

 

 

 

7,444,016

 

 

 

1,696,980

 

 

 

5,808,224

 

 

 

1,396,651

 

 

 

10,365,414

 

 

 

2,141,480

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Increase for Fair Value of Equity Awards Granted and Vested in the Year

 

 

983,792

 

 

 

270,087

 

 

 

857,427

 

 

 

247,599

 

 

 

486,233

 

 

 

148,357

 

 

 

718,030

 

 

 

193,519

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in Fair Value of Outstanding and Unvested Equity Awards, Year-Over-Year

 

 

5,554,341

 

 

 

1,003,205

 

 

 

(555,276

)

 

 

(148,410

)

 

 

(3,145,110

)

 

 

(603,900

)

 

 

4,527,985

 

 

 

909,187

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in Fair Value of Equity Awards Vested, Granted in a Previous Year

 

 

639,600

 

 

 

150,038

 

 

 

86,500

 

 

 

13,321

 

 

 

4,049,443

 

 

 

729,875

 

 

 

3,926,389

 

 

 

670,203

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Compensation Actually Paid

$

 

23,208,434

 

$

 

5,365,965

 

$

 

10,330,867

 

$

 

2,894,005

 

$

 

8,210,990

 

$

 

2,227,016

 

$

 

22,399,417

 

$

 

5,147,573

 

     
Compensation Actually Paid vs. Total Shareholder Return

img131243170_146.jpg

     
Compensation Actually Paid vs. Net Income

img131243170_147.jpg

     
Compensation Actually Paid vs. Company Selected Measure

img131243170_148.jpg

     
Total Shareholder Return Vs Peer Group

img131243170_146.jpg

     
Tabular List, Table

Tabular list of financial performance measures

The table below lists the financial performance measures that the Compensation Committee believes represent the most important financial performance measures used to link "compensation actually paid" to our NEOs to Ciena’s performance for fiscal 2024. Revenue and Adjusted Operating Income are the financial performance measures used to determine performance-based cash bonuses under the Annual Cash Incentive Bonus Plan, aggregate sales orders and adjusted earnings per share are the financial performance measures used to determine the earning of PSU awards, and total stockholder return is the financial performance measure used to determine the earning of MSU awards. See "Compensation Discussion and Analysis" above for a further description of our executive compensation program. The performance measures included in this table are not ranked by relative importance.

 

Revenue (Company Selected Measure)

Adjusted Operating Income

Aggregate Sales Orders

Adjusted Earnings Per Share

Total Stockholder Return

     
Total Shareholder Return Amount $ 144.53 88.69 88.93 114
Peer Group Total Shareholder Return Amount 109 79.54 105.69 142.96
Net Income (Loss) $ 83,956,000 $ 254,827,000 $ 152,902,000 $ 500,196,000
Company Selected Measure Amount 4,014,955,000 4,386,549,000 3,632,661,000 3,620,684,000
PEO Name Mr. Smith      
Measure:: 1        
Pay vs Performance Disclosure        
Name Revenue      
Measure:: 2        
Pay vs Performance Disclosure        
Name Adjusted Operating Income      
Measure:: 3        
Pay vs Performance Disclosure        
Name Aggregate Sales Orders      
Measure:: 4        
Pay vs Performance Disclosure        
Name Adjusted Earnings Per Share      
Measure:: 5        
Pay vs Performance Disclosure        
Name Total Stockholder Return      
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (12,069,792) $ (12,933,210)   $ (8,589,251)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 14,023,720 7,444,016 $ 5,808,224 10,365,414
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 5,554,341 (555,276) (3,145,110) 4,527,985
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 983,792 857,427 486,233 718,030
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 639,600 86,500 4,049,443 3,926,389
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount     (11,005,780)  
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (2,612,077) (2,871,987) (2,644,856) (1,849,692)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,047,358 1,696,980 1,396,651 2,141,480
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,003,205 (148,410) (603,900) 909,187
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 270,087 247,599 148,357 193,519
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 150,038 $ 13,321 $ 729,875 $ 670,203