John Z. Zhang - 02 Feb 2022 Form 4 Insider Report for CORNING INC /NY (GLW)

Role
Senior VP & GM, Display
Signature
Linda E. Jolly, Power of Attorney
Issuer symbol
GLW
Transactions as of
02 Feb 2022
Net transactions value
-$199,554
Form type
4
Filing time
04 Feb 2022, 15:24:08 UTC
Previous filing
19 May 2021
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 $360,040 +13,320 +286% $27.03 17,975 04 Feb 2022 Direct
transaction GLW Common Stock Sale $559,593 -13,320 -74% $42.01 4,655 04 Feb 2022 Direct F1

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 +13,599 +97% $0.000000 27,664 02 Feb 2022 Common Stock 13,599 Direct F2, F3
transaction GLW Performance Share Unit Award $0 +7,518 $0.000000 7,518 02 Feb 2022 Common Stock 7,518 Direct F2, F4
transaction GLW Stock Options (Right to Buy) Options Exercise $0 -13,320 -100% $0.000000* 0 04 Feb 2022 Common Stock 13,320 $27.03 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $42.01 to $42.02, inclusive. The reporting person undertakes to provide to Corning Incorporated, any security holder of Corning Incorporated, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth previously in this footnote.
F2 Each Performance Share Unit represents a contingent right to receive one share of GLW common stock.
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.