LEWIS A. STEVERSON - 02 Feb 2022 Form 4 Insider Report for CORNING INC /NY (GLW)

Role
EVP and CLAO
Signature
Linda E. Jolly, Power of Attorney
Issuer symbol
GLW
Transactions as of
02 Feb 2022
Net transactions value
-$72,530
Form type
4
Filing time
04 Feb 2022, 15:20:08 UTC
Previous filing
11 Jan 2022
Next filing
05 Apr 2022
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 +1,040 1,040 02 Feb 2022 Direct F1
transaction GLW Common Stock Options Exercise +657 +63% 1,697 02 Feb 2022 Direct F1
transaction GLW Common Stock Tax liability $72,530 -1,697 -100% $42.74 0 02 Feb 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 +29,299 +100% $0.000000 58,560 02 Feb 2022 Common Stock 29,299 Direct F1, F2
transaction GLW Performance Share Unit Award $0 +18,529 $0.000000 18,529 02 Feb 2022 Common Stock 18,529 Direct F1, F3
transaction GLW Performance Share Unit Options Exercise -1,040 -1.8% 57,520 02 Feb 2022 Common Stock 1,040 Direct F1, F4
transaction GLW Performance Share Unit Options Exercise -657 -3.5% 17,872 02 Feb 2022 Common Stock 657 Direct F1, F5
* 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.