Eric S. Musser - 16 May 2022 Form 4 Insider Report for CORNING INC /NY (GLW)

Role
President and COO
Signature
Linda E. Jolly, Power of Attorney
Issuer symbol
GLW
Transactions as of
16 May 2022
Net transactions value
-$248,477
Form type
4
Filing time
18 May 2022, 16:22:53 UTC
Previous filing
20 Apr 2022
Next filing
09 Jan 2023
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 $0 +12,570 +13% $0.000000 110,196 16 May 2022 Direct
transaction GLW Common Stock Options Exercise $0 +1,256 +1.1% $0.000000 111,452 16 May 2022 Direct
transaction GLW Common Stock Tax liability $248,477 -7,059 -6.3% $35.20 104,393 16 May 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 Options Exercise $0 -12,570 -50% $0.000000 12,570 16 May 2022 Common Stock 12,570 Direct F1, F2
transaction GLW Restricted Stock Unit Options Exercise $0 -1,256 -50% $0.000000 1,257 16 May 2022 Common Stock 1,256 Direct F3, F4
holding GLW Restricted Stock Unit 41,536 16 May 2022 Common Stock 41,536 Direct F3, F5
holding GLW Performance Share Unit 66,872 16 May 2022 Common Stock 66,872 Direct F1, F6
holding GLW Restricted Stock Unit 26,703 16 May 2022 Common Stock 26,703 Direct F3, F7
holding GLW Performance Share Unit 21,238 16 May 2022 Common Stock 21,238 Direct F1, F8
holding GLW Restricted Stock Unit 39,191 16 May 2022 Common Stock 39,191 Direct F3, F9
* 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 Corning Incorporated Common Stock.
F2 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.
F3 Each restricted stock unit represents a contingent right to receive one share of Corning Incorporated Common Stock.
F4 The restricted stock units will vest ratably over three years from grant date. Vested shares will be delivered to the reporting person within sixty (60) days after vesting. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to the vesting dates.
F5 The Restricted Stock Units vest 100% on April 14, 2023. Vested shares will be delivered to the reporting person within thirty (30) days after April 14, 2023. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to April 14, 2023.
F6 Earned performance share units remain restricted until April 14, 2023, when they vest and convert to GLW common stock, subject to service-based vesting requirement.
F7 The Restricted Stock Units vest 100% on April 15, 2024. Vested shares will be delivered to the reporting person within thirty (30) days after April 15, 2024. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to April 15, 2024.
F8 Earned performance share units remain restricted until April 15, 2024, when they vest and convert to GLW common stock, subject to service-based vesting requirement.
F9 The Restricted Stock Units vest 100% on April 15, 2025. Vested shares will be delivered to the reporting person within thirty (30) days after April 15, 2025. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to April 15, 2025.