Mark Patterson
Executive Vice President and Chief Financial Officer at CSCO
Executive
About Mark Patterson
Mark Patterson, 55, became Executive Vice President and Chief Financial Officer of Cisco effective July 27, 2025, after serving as EVP and Chief Strategy Officer and multiple senior strategy and finance roles since joining Cisco in September 2000 . He brings 25+ years at Cisco, recently emphasizing AI infrastructure growth; in Q1 FY26 he cited $1.3B of new hyperscaler orders and a >$3B FY26 AI revenue target, evidencing execution momentum . During FY2025, Cisco delivered $56.7B revenue (+5% YoY), with 1-year TSR 47% and 3-year TSR 66%, and returned $12.4B to shareholders, framing Patterson’s tenure start against strong operating performance .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Cisco Systems, Inc. | EVP & Chief Strategy Officer | Mar 2024–Jul 2025 | Led enterprise strategy and integration of AI and Splunk; precursor to CFO role . |
| Cisco Systems, Inc. | SVP, Chief of Staff to Chair & CEO | Oct 2018–Mar 2024 | Coordinated CEO agenda and cross-functional execution . |
| Cisco Systems, Inc. | SVP, Strategy, Planning & Operations (Worldwide Sales & Marketing) | Jul 2015–Oct 2018 | Drove GTM strategy and operational planning across global sales . |
| Cisco Systems, Inc. | Various leadership and finance roles | Sep 2000–Jul 2015 | Progressive responsibilities across finance and strategy . |
External Roles
- None disclosed in SEC filings for Patterson .
Fixed Compensation
- Not disclosed for Patterson in public filings to date; Cisco NEO program design shows CFO target annual cash incentive equal to 160% of base salary (program level, not individual disclosure) .
Performance Compensation
Annual Executive Incentive Plan (applies to CFO role)
| Metric | Weighting | FY2025 Threshold | FY2025 Target | FY2025 Maximum | FY2025 Actual | Funding Contribution |
|---|---|---|---|---|---|---|
| Revenue ($B) | 30% | 50.6 (90%) | 56.2 | 59.0 (105%) | 56.7 (101%) | 0.35 |
| Profit Before Taxes ($B) | 70% | 15.0 (85%) | 17.7 | 19.4 (110%) | 18.6 (106%) | 1.09 |
| Company Performance Factor (CPF) | — | — | 1.0 | — | 1.44 | 1.44 |
| Purpose/ESG Factor | 10% of bonus | — | 1.0 | — | 1.20 | 1.20 |
- CFO target bonus percentage: 160% of base salary under program design .
- Vesting/Payment: Annual cash payout based on CPF and Purpose factor per formula BASE × TARGET% × (0.9×CPF + 0.1×Purpose) .
Long-Term Equity (Program mechanics)
- PRSUs for FY2025: three-year operating income goal, modified ±20% by Relative TSR (capped at target if absolute TSR negative) . FY2023–FY2025 PRSUs paid at 138% of target (Financial Goal Multiplier 116%, Relative TSR Modifier 119%) .
Equity Ownership & Alignment
Equity Awards Granted to Mark Patterson
| Grant Type | Approval Date | Shares | Vesting Schedule | Strike | Expiration |
|---|---|---|---|---|---|
| RSUs | Jun 5, 2025 | 47,832 | 34% after 1 year; then 8.25% quarterly over ~2 years | N/A | N/A |
- Stock ownership guidelines: CEO 6x salary; other executive officers 4x salary; 5-year attainment period; holding requirement until compliant (hold at least 25% net shares) .
- Anti-pledging/hedging: Prohibited for executive officers and directors .
- Compliance status: As of Oct 17, 2025, all executive officers either exceeded or were on track for ownership guidelines within the timeframe .
- Section 16: Late Form 3 noted due to EDGAR code delays; filed promptly upon obtaining codes .
Employment Terms
- Agreements: No employment, severance, or change-in-control agreements for executive officers (standard practice); Patterson subject to standard Indemnity Agreement .
- Change-in-control: No single-trigger acceleration; awards accelerate only if not assumed or replaced in a transaction (double-trigger framework) .
- Clawback: Expanded recoupment policy covering cash and equity incentives for accounting restatements (effective Oct 2, 2023) .
- Perquisites: Limited; anti-hedging/pledging; aircraft personal use requires reimbursement; security provided per policy (primarily for CEO) .
- Deferred compensation: Eligible for Cisco Deferred Compensation Plan; matching aligned with 401(k) plan .
- Insider trading policy: Adopted and filed; covers directors, officers, and employees .
Related Party Transactions
- A daughter of Patterson is employed by Cisco as an account manager; total compensation ~$286,077 in FY2024, disclosed under related party items .
Performance & Track Record
- AI growth execution: CFO highlighted $1.3B Q1 FY26 new hyperscaler orders, targeting >$4B AI orders and >$3B AI revenue in FY26; four new design wins; two web scalers purchased >$1B each last year; mix evolving between optics and systems, with Silicon One-based systems gaining share .
- Corporate results context: FY2025 revenue $56.7B (+5%); subscription revenue $31.5B (56% of total); RPO $43.5B (+6%); capital returns $12.4B, supporting durable growth and cash generation .
Investment Implications
- Alignment signal: 4x salary ownership guideline with holding requirement and anti-pledging/hedging reduces misalignment risk; clawback strengthens governance .
- Vesting/supply dynamics: 47,832 RSUs with 1-year cliff then quarterly vesting could create periodic settlement-related supply; absence of options limits leverage risk .
- Retention and control: No employment or CIC agreement; equity design and ownership guidelines provide retention and performance orientation without golden parachutes .
- Execution leverage: Early CFO tenure coincides with strong AI order momentum and Silicon One systems penetration; performance-linked PRSUs (operating income + TSR modifier) tie long-term pay to value creation .