Wendell P. Weeks - Feb 2, 2022 Form 4 Insider Report for CORNING INC /NY (GLW)

Role
Chairman and CEO, Director
Signature
Linda E. Jolly, Power of Attorney
Stock symbol
GLW
Transactions as of
Feb 2, 2022
Transactions value $
-$277,425
Form type
4
Date filed
2/4/2022, 03:22 PM
Previous filing
Jan 11, 2022
Next filing
Feb 16, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GLW Common Stock Options Exercise +4.27K 4.27K Feb 2, 2022 Direct F1
transaction GLW Common Stock Options Exercise +2.22K +51.91% 6.49K Feb 2, 2022 Direct F1
transaction GLW Common Stock Tax liability -$277K -6.49K -100% $42.74 0 Feb 2, 2022 Direct
holding GLW Common Stock 628K Feb 2, 2022 By Trust
holding GLW Common Stock 10.5K Feb 2, 2022 Trustee U/employee Benefit Plan
holding GLW Common Stock 9.2K Feb 2, 2022 Held By Wife - In Trust F2
holding GLW Common Stock 6.37K Feb 2, 2022 Held By Wife - Emp. Ben. 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 +121K +100.13% $0.00 241K Feb 2, 2022 Common Stock 121K Direct F1, F3
transaction GLW Performance Share Unit Award $0 +62.6K $0.00 62.6K Feb 2, 2022 Common Stock 62.6K Direct F1, F4
transaction GLW Performance Share Unit Options Exercise -4.27K -1.77% 237K Feb 2, 2022 Common Stock 4.27K Direct F1, F5
transaction GLW Performance Share Unit Options Exercise -2.22K -3.54% 60.4K Feb 2, 2022 Common Stock 2.22K Direct F1, F6
holding GLW Performance Share Unit 75.4K Feb 2, 2022 Common Stock 75.4K 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.