Lawrence D. McRae - Feb 8, 2023 Form 4 Insider Report for CORNING INC /NY (GLW)

Role
Vice Chairman & Corp. Dev. Off
Signature
Linda E. Jolly, Power of Attorney
Stock symbol
GLW
Transactions as of
Feb 8, 2023
Transactions value $
-$41,992
Form type
4
Date filed
2/10/2023, 02:56 PM
Previous filing
Jan 9, 2023
Next filing
Mar 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GLW Common Stock Options Exercise +168 +0.11% 146K Feb 8, 2023 Direct F1
transaction GLW Common Stock Options Exercise +139 +0.09% 147K Feb 8, 2023 Direct F1
transaction GLW Common Stock Options Exercise +888 +0.61% 147K Feb 8, 2023 Direct F1
transaction GLW Common Stock Tax liability -$42K -1.2K -0.81% $35.14 146K Feb 8, 2023 Direct
holding GLW Common Stock 780 Feb 8, 2023 Held By Wife - Emp. Benefit Plan F2
holding GLW Common Stock 5.81K Feb 8, 2023 Trustee U/employee Benefit Plan

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 Restricted Stock Unit Award $0 +752 $0.00 752 Feb 8, 2023 Common Stock 752 Direct F4, F9, F10
transaction GLW Performance Share Unit Award $0 +4.73K $0.00 4.73K Feb 8, 2023 Common Stock 4.73K Direct F1, F11
transaction GLW Performance Share Unit Award $0 +3.91K +29.03% $0.00 17.4K Feb 8, 2023 Common Stock 3.91K Direct F1, F12
transaction GLW Performance Share Unit Award $0 +25K +40.46% $0.00 86.9K Feb 8, 2023 Common Stock 25K Direct F1, F13
transaction GLW Performance Share Unit Options Exercise -168 -3.55% 4.56K Feb 8, 2023 Common Stock 168 Direct F1, F11
transaction GLW Performance Share Unit Options Exercise -139 -0.8% 17.2K Feb 8, 2023 Common Stock 139 Direct F1, F12
transaction GLW Performance Share Unit Options Exercise -888 -1.02% 86K Feb 8, 2023 Common Stock 888 Direct F1, F13
holding GLW Performance Share Unit 11.9K Feb 8, 2023 Common Stock 11.9K Direct F1, F3
holding GLW Restricted Stock Unit 38.4K Feb 8, 2023 Common Stock 38.4K Direct F4, F5
holding GLW Restricted Stock Unit 16.9K Feb 8, 2023 Common Stock 16.9K Direct F4, F6
holding GLW Restricted Stock Unit 20.4K Feb 8, 2023 Common Stock 20.4K Direct F4, F7
holding GLW Restricted Stock Unit 1.21K Feb 8, 2023 Common Stock 1.21K Direct F4, F8
* 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 The reporting person disclaims beneficial ownership of all securities held by spouse.
F3 Performance share units (PSUs) were earned February 3, 2021 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2020 pursuant to the 2020 agreement. Earned PSUs remain restricted until vesting. The earned units will vest ratably over 3 years from the grant date and convert to common stock, subject to service-based vesting requirement.
F4 Each restricted stock unit represents a contingent right to receive one share of Corning Incorporated common stock.
F5 The restricted stock units (RSUs) vest 100% on April 14, 2023. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to the vesting date.
F6 The restricted stock units (RSUs) vest 100% on April 15, 2024. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to the vesting date.
F7 The restricted stock units (RSUs) vest 100% on April 15, 2025. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to the vesting date.
F8 The restricted stock units will vest on May 15, 2023. Events such as retirement, death, disability, and others specified in the May 2020 agreement may result in vesting prior to the vesting date.
F9 Employees were provided an opportunity to voluntarily exchange a portion of their compensation for the first six months of 2023 for restricted stock units (RSUs). The reporting person exchanged $22,013 of their cash compensation for 752 RSUs.
F10 The restricted stock units (RSUs) vest 2/3 after 1 year and 1/3 after 18 months from the grant date.
F11 Performance share units (PSUs) were earned February 8, 2023 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2022 pursuant to the 2022 agreement. Earned PSUs remain restricted until April 15, 2025, when they vest and convert to common stock, subject to service-based vesting requirement.
F12 Performance share units (PSUs) were earned February 8, 2023 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2022 pursuant to the 2021 agreement. Earned PSUs remain restricted until April 15, 2024, when they vest and convert to common stock, subject to service-based vesting requirement.
F13 Performance share units (PSUs) were earned February 8, 2023 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2022 pursuant to the 2020 agreement. Earned PSUs remain restricted until April 14, 2023, when they vest and convert to common stock, subject to service-based vesting requirement.