James P. Clappin - 17 May 2021 Form 4 Insider Report for CORNING INC /NY (GLW)

Role
Vice Chair & Strategic Advisor
Signature
Linda E. Jolly, Power of Attorney
Issuer symbol
GLW
Transactions as of
17 May 2021
Net transactions value
-$252,104
Form type
4
Filing time
19 May 2021, 16:10:45 UTC
Next filing
03 Aug 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GLW Common Stock Options Exercise $0 +1,139 +1.4% $0.000000 80,259 17 May 2021 Direct
transaction GLW Common Stock Options Exercise $0 +10,510 +13% $0.000000 90,769 17 May 2021 Direct
transaction GLW Common Stock Tax liability $252,104 -5,705 -6.3% $44.19 85,064 17 May 2021 Direct
holding GLW Common Stock 1,930 17 May 2021 Trustee u/Employee Benefit Plan
holding GLW Common Stock - Jt. Tenant W/wife 9,797 17 May 2021 Direct

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 GLW Restricted Stock Unit Options Exercise $0 -1,139 -33% $0.000000 2,276 17 May 2021 Common Stock 1,139 Direct F1, F2
transaction GLW Performance Share Unit Options Exercise $0 -10,510 -33% $0.000000 21,018 17 May 2021 Common Stock 10,510 Direct F3, F4
holding GLW Performance Share Unit 30,867 17 May 2021 Common Stock 30,867 Direct F3, F5
holding GLW Restricted Stock Unit 17,460 17 May 2021 Common Stock 17,460 Direct F1, F6
holding GLW Restricted Stock Unit 37,662 17 May 2021 Common Stock 37,662 Direct F1, F7
holding GLW Restricted Stock Unit 17,390 17 May 2021 Common Stock 17,390 Direct F1, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of Corning Incorporated Common Stock.
F2 The restricted stock units will vest ratably over three years from grant date. Vested shares will be delivered to the reporting person within sixty (60) days after vesting. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to the vesting dates.
F3 Each Performance Share Unit represents a contingent right to receive one share of GLW common stock.
F4 Performance Share Units were earned February 3, 2021 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2020 pursuant to the May 2020 agreement. Earned units remain restricted until vesting. The earned units will vest ratably over 3 years from the grant date and convert to GLW common stock, subject to service-based vesting requirement.
F5 Performance Share Units were earned February 3, 2021 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2020 pursuant to the April 2020 agreement. Earned units remain restricted until April 14, 2023, when they vest and convert to GLW common stock, subject to service-based vesting requirement.
F6 The Restricted Stock Units vest 100% on April 15, 2022. Vested shares will be delivered to the reporting person within thirty (30) days after April 15, 2022. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to April 15, 2022.
F7 The Restricted Stock Units vest 100% on April 14, 2023. Vested shares will be delivered to the reporting person within thirty (30) days after April 14, 2023. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to April 14, 2023.
F8 The Restricted Stock Units vest 100% on April 15, 2024. Vested shares will be delivered to the reporting person within thirty (30) days after April 15, 2024. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to April 15, 2024.