Michael Foliano - Aug 9, 2022 Form 4 Insider Report for ADTRAN Holdings, Inc. (ADTN)

Role
SVP of Finance & CFO
Signature
Michael Foliano
Stock symbol
ADTN
Transactions as of
Aug 9, 2022
Transactions value $
-$27,433
Form type
4
Date filed
8/11/2022, 05:12 PM
Previous filing
Jul 8, 2022
Next filing
Sep 6, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ADTN Common Stock Options Exercise $76.6K +4.52K +3.01% $16.97 155K Aug 9, 2022 Direct
transaction ADTN Common Stock Tax liability -$76.6K -3.21K -2.08% $23.86 152K Aug 9, 2022 Direct F1
transaction ADTN Common Stock Options Exercise $86.5K +5.64K +3.72% $15.33 157K Aug 9, 2022 Direct
transaction ADTN Common Stock Tax liability -$86.5K -3.63K -2.31% $23.86 154K Aug 9, 2022 Direct F2
transaction ADTN Common Stock Options Exercise $100K +5.27K +3.43% $18.97 159K Aug 9, 2022 Direct
transaction ADTN Common Stock Tax liability -$100K -4.19K -2.64% $23.86 155K Aug 9, 2022 Direct F3
transaction ADTN Common Stock Options Exercise $230K +13.5K +8.76% $16.97 168K Aug 9, 2022 Direct
transaction ADTN Common Stock Tax liability -$257K -10.8K -6.41% $23.86 157K Aug 9, 2022 Direct F4
holding ADTN Common Stock 248 Aug 9, 2022 401(k) Plan

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ADTN Incentive Stock Option (Right to Buy) Options Exercise $0 -4.52K -100% $0.00* 0 Aug 9, 2022 Common Stock 4.52K $16.97 Direct F5
transaction ADTN Incentive Stock Option (Right to Buy) Options Exercise $0 -5.64K -100% $0.00* 0 Aug 9, 2022 Common Stock 5.64K $15.33 Direct F5
transaction ADTN Incentive Stock Option (Right to Buy) Options Exercise $0 -5.27K -100% $0.00* 0 Aug 9, 2022 Common Stock 5.27K $18.97 Direct F5
transaction ADTN Non-Qualified Stock Option (Right to Buy) Options Exercise $0 -13.5K -100% $0.00* 0 Aug 9, 2022 Common Stock 13.5K $16.97 Direct F5
holding ADTN Phantom Stock 21.1K Aug 9, 2022 Common Stock 21.1K Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares surrendered to Adtran Holdings, Inc. to cover the exercise price of outstanding stock options. The reporting person received 1,304 shares of common stock on the net exercise of stock options to purchase 4,516 shares of common stock. The reporting person surrendered 3,212 shares of common stock underlying the stock options for payment of the exercise price, using the closing stock price on August 8, 2022 of $23.86, pursuant to the terms of the 2006 Employee Stock Incentive Plan.
F2 Represents shares surrendered to Adtran Holdings, Inc. to cover the exercise price of outstanding stock options. The reporting person received 2,017 shares of common stock on the net exercise of stock options to purchase 5,644 shares of common stock. The reporting person surrendered 3,627 shares of common stock underlying the stock options for payment of the exercise price, using the closing stock price on August 8, 2022 of $23.86, pursuant to the terms of the 2015 Employee Stock Incentive Plan.
F3 Represents shares surrendered to Adtran Holdings, Inc. to cover the exercise price of outstanding stock options. The reporting person received 1,080 shares of common stock on the net exercise of stock options to purchase 5,271 shares of common stock. The reporting person surrendered 4,191 shares of common stock underlying the stock options for payment of the exercise price, using the closing stock price on August 8, 2022 of $23.86, pursuant to the terms of the 2006 Employee Stock Incentive Plan.
F4 Represents shares surrendered to Adtran Holdings, Inc. to cover the exercise price of outstanding stock options. The reporting person received 2,763 shares of common stock on the net exercise of stock options to purchase 13,546 shares of common stock. The reporting person surrendered 10,783 shares of common stock underlying the stock options for payment of the exercise price and tax withholdings, using the closing stock price on August 8, 2022 of $23.86, pursuant to the terms of the 2006 Employee Stock Incentive Plan.
F5 The options granted to the reporting person vested in four annual installments beginning on the anniversary of the date of grant and were fully vested prior to the Effective Time.
F6 Represents shares of phantom stock of the Issuer that have been acquired through the automatic reinvestment of dividends paid on the Issuer's common stock, which phantom shares become payable in cash six months after the reporting person's separation of service with the Issuer.