Lawrence D. McRae - Feb 2, 2022 Form 4 Insider Report for CORNING INC /NY (GLW)

Role
Vice Chairman & Corp. Dev. Off
Signature
Linda E. Jolly, Power of Attorney
Stock symbol
GLW
Transactions as of
Feb 2, 2022
Transactions value $
-$68,940
Form type
4
Date filed
2/4/2022, 03:13 PM
Previous filing
Jan 11, 2022
Next filing
Mar 14, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GLW Common Stock Options Exercise +1.12K +0.65% 174K Feb 2, 2022 Direct F1
transaction GLW Common Stock Options Exercise +495 +0.28% 174K Feb 2, 2022 Direct F1
transaction GLW Common Stock Tax liability -$68.9K -1.61K -0.92% $42.74 173K Feb 2, 2022 Direct
holding GLW Common Stock 5.63K Feb 2, 2022 Trustee U/employee Benefit Plan
holding GLW Common Stock 756 Feb 2, 2022 Held By Wife - Emp. Benefit Plan F2

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 Performance Share Unit Award $0 +31.5K +100.13% $0.00 63K Feb 2, 2022 Common Stock 31.5K Direct F1, F3
transaction GLW Performance Share Unit Award $0 +14K $0.00 14K Feb 2, 2022 Common Stock 14K Direct F1, F4
transaction GLW Performance Share Unit Options Exercise -1.12K -1.77% 61.9K Feb 2, 2022 Common Stock 1.12K Direct F1, F5
transaction GLW Performance Share Unit Options Exercise -495 -3.55% 13.5K Feb 2, 2022 Common Stock 495 Direct F1, F6
holding GLW Performance Share Unit 23.8K Feb 2, 2022 Common Stock 23.8K Direct F1, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Performance Share Unit represents a contingent right to receive one share of GLW common stock.
F2 The Reporting Person disclaims beneficial ownership of all securities held by spouse.
F3 Performance Share Units were earned February 2, 2022 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2021 pursuant to the 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.
F4 Performance Share Units were earned February 2, 2022 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2021 pursuant to the 2021 agreement. Earned units remain restricted until April 15, 2024, when they vest and convert to GLW common stock, subject to service-based vesting requirement.
F5 Vesting to satisfy tax requirement pursuant to the 2020 agreement.
F6 Vesting to satisfy tax requirement pursuant to the 2021 agreement.
F7 Performance Share Units were earned February 3, 2021 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2020 pursuant to the 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.