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CIENA CORP

For the period ended Mar 27, 2025. Filed Feb 13, 2025.

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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

Mar 27, 2025 · Filed Feb 13, 2025

CIEN$243.39+5.5%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of

the Securities Exchange Act of 1934

Filed by the Registrant☒

Filed by a Party other than the Registrant☐

Check the appropriate box:

☐Preliminary Proxy Statement
☐Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☒Definitive Proxy Statement
☐Definitive Additional Materials
☐Soliciting Material Pursuant to §240.14a-12

Ciena Corp oration

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

☒No fee required.
☐Fee paid previously with preliminary materials.
☐Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.

PROXY STATEMENT

2025 Annual Meeting

of Stockholders

Message from our Board of Directors
Lawton W. FittChair of the Board "Oversight of our business strategy and management of risk are crucial to our success, and I am pleased to step into a new role as independent Chair as the Board works to further strengthen these efforts." - Lawton W. FittDear Fellow Stockholders:Ciena delivered solid financial performance in fiscal 2024 and notably, we made significant progress in advancing our strategy – one that leverages our innovation leadership in optical technology to expand our addressable market opportunity. We delivered $4.01 billion in revenue and generated record revenue from our cloud provider customers as they make network investments to address the growth in bandwidth demand and network traffic driven by cloud adoption and artificial intelligence (AI). We brought to market WaveLogicTM 6 Extreme, our sixth generation optical chipset and the industry’s first 1.6T single wavelength coherent solution. We also had a strong year of market adoption of our 400G ZR/ZR+ coherent pluggable solutions, with design wins from three cloud providers. We believe that our technology leadership, continued investments in innovation, and market expansion opportunities, combined with positive market dynamics, positions us to deliver accelerated revenue growth and improved operating leverage in the coming years.In addition to the rigorous execution of our strategy, our Board and management team believe deeply that our success is ultimately rooted in our people and our company purpose – to bring humanity to innovation. This not only shapes how we innovate, but also drives our dedication to high ethical standards, sound governance principles and sustainable business practices. In 2024, we took meaningful steps to increase our commitment in these areas, including: •Board Leadership & Independence. As part of our commitment to independence and refreshment, and in connection with the decision of Patrick H. Nettles, Ph.D. to retire at the end of his term, the Board appointed me as its new independent Chair in December 2024. In connection with my new role, we appointed Devinder Kumar to replace me as chair of our Audit Committee as of January 1, 2025. We believe that these changes will further strengthen our Board from both a governance and an oversight perspective. The entire Board would like to thank Dr. Nettles for his many years of exceptional service to Ciena. •Commitment to our Stockholders. In fiscal 2024, we completed a $1 billion stock repurchase program that began in fiscal 2022. Underscoring our confidence in the future and our commitment to return value to our stockholders, we also authorized a new $1 billion stock repurchase program for the next three years.•Governance Updates. We regularly review our key governance documents to align with best practices. In 2024, we refreshed our bylaws, Principles of Corporate Governance, Code of Ethics for Directors, Code of Ethics for Senior Financial Officers, and the charters of each of our standing Board Committees. •Stockholder Engagement. We believe that strong corporate governance practices should include regular engagement with our stockholders, with whom we regularly discuss our business, financial performance, industry dynamics, compensation, and sustainability matters. In the last 12 months, we have engaged with more than half of our 25 largest stockholders an aggregate of almost 60 times. In fiscal 2024, we also met with stockholders representing over 47% of our outstanding shares to update them on our sustainability programming. I encourage you to read more about our Board of Directors, corporate governance practices and executive compensation in the accompanying proxy statement. I am confident that you will recognize our commitment to leading practices in these areas. Thank you for your continued support of Ciena and your participation in this year’s Annual Meeting.On behalf of the Board of Directors, Lawton W. FittChair of the BoardFebruary 13, 2025

Ciena Corporation

Hanover, Maryland 21076

Notice of Annual Meeting of Stockholders

Date:March 27, 2025Record Date:January 27, 2025
Time:3:00 p.m. Eastern TimeAttendance:www.virtualshareholdermeeting.com/CIEN2025

To the Stockholders of Ciena Corporation:

The 2025 Annual Meeting of Stockholders of Ciena Corporation (the "Annual Meeting") will be held on March 27, 2025 at 3:00 p.m. Eastern Time. Our Annual Meeting will be a virtual meeting held over the Internet. You will be able to attend the Annual Meeting, vote your shares electronically and submit your questions during the live webcast of the meeting by visitingwww.virtualshareholdermeeting.com/CIEN2025 and entering your 16-digit control number included in the notice containing instructions on how to access Annual Meeting materials, your proxy card, or the voting instructions that accompanied your proxy materials.

Items of Business

1.Elect two members of the Board of Directors from the nominees named in the accompanying proxy statement to serve as Class I directors for three-year terms ending in 2028, or until their respective successors are elected and qualified.2.Ratify the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for fiscal 2025.3.Conduct an advisory vote on our named executive officer compensation, as described in these proxy materials.4.Consider and act upon such other business as may properly come before the Annual Meeting or any adjournment or postponement thereof.

These matters are more fully described in the proxy statement accompanying this notice. You are entitled to notice of, and are eligible to vote at, this year’s Annual Meeting if you were a stockholder of record as of the close of business on January 27, 2025.

In accordance with Securities and Exchange Commission rules, we are furnishing these proxy materials and our Annual Report to Stockholders for fiscal 2024 via the Internet. On or about February 13, 2025, stockholders as of the record date are first being mailed a Notice of Internet Availability of Proxy Materials with instructions on how to access our Annual Meeting materials and vote via the Internet, by mail, or by telephone.

We believe that your vote, and the vote of every Ciena stockholder, is important. Whether or not you plan to participate in the Annual Meeting, we encourage you to review the accompanying proxy statement for information relating to each of the proposals and to cast your vote promptly.

By Order of the Board of Directors,

Sheela Kosaraju

Senior Vice President, General Counsel and Assistant Secretary

Hanover, Maryland

February 13, 2025

This notice of annual meeting, proxy statement and accompanying form of proxy card are being made available on or about February 13, 2025.

Table of contents

Proxy statement summary1Ownership of securities31
Voting roadmap4Delinquent Section 16(a) reports32
Proposal No. 1Compensation discussion and analysis33
Election of Class I Directors5Compensation Committee Report53
Information regarding nominees and continuing directors7Executive compensation tables54
Corporate governance and the Board of Directors12Summary compensation table54
Independent directors12Grants of plan-based awards55
Communicating with the Board of Directors12Outstanding equity awards at fiscal year-end57
Principles of Corporate Governance, Bylaws, andOption exercises and stock vested59
other governance documents13Nonqualified deferred compensation59
Codes of ethics14Potential payments upon termination or change
Board leadership structure14in control60
Board oversight of strategy15CEO pay ratio disclosure66
Board oversight of risk15Pay versus performance67
Board education16Proposal No. 3
Composition and meetings of the Board of DirectorsAnnual advisory "say-on-pay" vote to approve
and its Committees16named executive officer compensation71
Sustainability and governance practices20Related person transactions72
Compensation philosophy and objectives24Equity compensation plan information73
Compensation consultant24Stockholder proposals for 2026 Annual Meeting74
Compensation Committee interlocks andGeneral information75
insider participation24Frequently asked questions76
Fiscal 2024 Board compensation25Householding of proxy materials79
Director compensation table26Electronic delivery of future proxy materials80
Outstanding equity awards for directors at fiscal year-end27Non-GAAP Measures80
Deferral of director compensation27
Ratification of appointment of independent
registered public accounting firm28
Relationship with independent registered public
accounting firm29
Audit Committee Report30

Cautionary note regarding forward-looking statements

This proxy statement contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), that are based on current expectations, forecasts, assumptions and other information available to Ciena Corporation ("Ciena" or "we") as of the date hereof. Forward-looking statements involve inherent risks and uncertainties, include statements regarding Ciena’s expectations, beliefs, intentions or strategies regarding the future, including with respect to business, financial, operational, compensation and sustainability and governance matters, and can be identified by forward-looking words such as "anticipate," "believe," "can," "could," "continue," "estimate," "expect," "future," "goal," "intend," "may," "plan," "potential," "should," "will," and "would" or similar words. Ciena’s actual results, performance or events may differ materially from these forward-looking statements made or implied due to a number of risks and uncertainties relating to Ciena’s business, including the effect of broader economic and market conditions on Ciena’s customers and their business, Ciena’s ability to execute its business and growth strategies and to achieve sustainability goals, the impact of macroeconomic conditions, and the risks and uncertainties discussed in Ciena’s Annual Report on Form 10-K for fiscal 2024 ("2024 Form 10-K") as well as Ciena’s other filings with the Securities and Exchange Commission (the "SEC"). Ciena undertakes no obligation to revise or update any forward-looking statements made in this proxy statement, whether as a result of new information, future events or circumstances, or otherwise, except as required by law.

Information contained on or available through our website is not incorporated by reference in or made part of this proxy statement and any references to our website are intended to be inactive textual references only.

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