Eric S. Musser - Feb 8, 2023 Form 4 Insider Report for CORNING INC /NY (GLW)

Role
President and COO
Signature
Linda E. Jolly, Power of Attorney
Stock symbol
GLW
Transactions as of
Feb 8, 2023
Transactions value $
-$52,183
Form type
4
Date filed
2/10/2023, 02:58 PM
Previous filing
Jan 9, 2023
Next filing
Apr 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GLW Common Stock Options Exercise +307 +0.29% 105K Feb 8, 2023 Direct F1
transaction GLW Common Stock Options Exercise +219 +0.21% 105K Feb 8, 2023 Direct F1
transaction GLW Common Stock Options Exercise +959 +0.91% 106K Feb 8, 2023 Direct F1
transaction GLW Common Stock Tax liability -$52.2K -1.49K -1.4% $35.14 104K Feb 8, 2023 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 Restricted Stock Unit Award $0 +6.35K $0.00 6.35K Feb 8, 2023 Common Stock 6.35K Direct F3, F8, F9
transaction GLW Performance Share Unit Award $0 +8.64K $0.00 8.64K Feb 8, 2023 Common Stock 8.64K Direct F1, F10
transaction GLW Performance Share Unit Award $0 +6.17K +29.03% $0.00 27.4K Feb 8, 2023 Common Stock 6.17K Direct F1, F11
transaction GLW Performance Share Unit Award $0 +27.1K +40.46% $0.00 93.9K Feb 8, 2023 Common Stock 27.1K Direct F1, F12
transaction GLW Performance Share Unit Options Exercise -307 -3.55% 8.34K Feb 8, 2023 Common Stock 307 Direct F1, F10
transaction GLW Performance Share Unit Options Exercise -219 -0.8% 27.2K Feb 8, 2023 Common Stock 219 Direct F1, F11
transaction GLW Performance Share Unit Options Exercise -959 -1.02% 93K Feb 8, 2023 Common Stock 959 Direct F1, F12
holding GLW Performance Share Unit 12.6K Feb 8, 2023 Common Stock 12.6K Direct F1, F2
holding GLW Restricted Stock Unit 41.5K Feb 8, 2023 Common Stock 41.5K Direct F3, F4
holding GLW Restricted Stock Unit 26.7K Feb 8, 2023 Common Stock 26.7K Direct F3, F5
holding GLW Restricted Stock Unit 37.5K Feb 8, 2023 Common Stock 37.5K Direct F3, F6
holding GLW Restricted Stock Unit 1.26K Feb 8, 2023 Common Stock 1.26K Direct F3, 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 Corning Incorporated common stock.
F2 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.
F3 Each restricted stock unit represents a contingent right to receive one share of Corning Incorporated common stock.
F4 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.
F5 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.
F6 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.
F7 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.
F8 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 $185,860 of their cash compensation for 6,347 RSUs.
F9 The restricted stock units (RSUs) vest 2/3 after 1 year and 1/3 after 18 months from the grant date.
F10 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.
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 2021 agreement. Earned PSUs remain restricted until April 15, 2024, 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 2020 agreement. Earned PSUs remain restricted until April 14, 2023, when they vest and convert to common stock, subject to service-based vesting requirement.