Eric S. Musser - Feb 2, 2022 Form 4 Insider Report for CORNING INC /NY (GLW)

Role
President and COO
Signature
Linda E. Jolly, Power of Attorney
Stock symbol
GLW
Transactions as of
Feb 2, 2022
Transactions value $
-$85,010
Form type
4
Date filed
2/4/2022, 03:16 PM
Previous filing
Jan 11, 2022
Next filing
Apr 5, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GLW Common Stock Options Exercise +1.21K +1.35% 90.4K Feb 2, 2022 Direct F1
transaction GLW Common Stock Options Exercise +781 +0.86% 91.2K Feb 2, 2022 Direct F1
transaction GLW Common Stock Tax liability -$85K -1.99K -2.18% $42.74 89.2K Feb 2, 2022 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 Performance Share Unit Award $0 +34.1K +100.12% $0.00 68.1K Feb 2, 2022 Common Stock 34.1K Direct F1, F2
transaction GLW Performance Share Unit Award $0 +22K $0.00 22K Feb 2, 2022 Common Stock 22K Direct F1, F3
transaction GLW Performance Share Unit Options Exercise -1.21K -1.77% 66.9K Feb 2, 2022 Common Stock 1.21K Direct F1, F4
transaction GLW Performance Share Unit Options Exercise -781 -3.55% 21.2K Feb 2, 2022 Common Stock 781 Direct F1, F5
holding GLW Performance Share Unit 25.1K Feb 2, 2022 Common Stock 25.1K Direct F1, F6
* 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 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.
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 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.
F4 Vesting to satisfy tax requirement pursuant to the 2020 agreement.
F5 Vesting to satisfy tax requirement pursuant to the 2021 agreement.
F6 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.