Eric S. Musser - 08 Feb 2023 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
08 Feb 2023
Net transactions value
-$52,183
Form type
4
Filing time
10 Feb 2023, 14:58:25 UTC
Previous filing
09 Jan 2023
Next filing
05 Apr 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 +307 +0.29% 104,700 08 Feb 2023 Direct F1
transaction GLW Common Stock Options Exercise +219 +0.21% 104,919 08 Feb 2023 Direct F1
transaction GLW Common Stock Options Exercise +959 +0.91% 105,878 08 Feb 2023 Direct F1
transaction GLW Common Stock Tax liability $52,183 -1,485 -1.4% $35.14 104,393 08 Feb 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 +6,347 $0.000000 6,347 08 Feb 2023 Common Stock 6,347 Direct F3, F8, F9
transaction GLW Performance Share Unit Award $0 +8,642 $0.000000 8,642 08 Feb 2023 Common Stock 8,642 Direct F1, F10
transaction GLW Performance Share Unit Award $0 +6,165 +29% $0.000000 27,403 08 Feb 2023 Common Stock 6,165 Direct F1, F11
transaction GLW Performance Share Unit Award $0 +27,054 +40% $0.000000 93,926 08 Feb 2023 Common Stock 27,054 Direct F1, F12
transaction GLW Performance Share Unit Options Exercise -307 -3.6% 8,335 08 Feb 2023 Common Stock 307 Direct F1, F10
transaction GLW Performance Share Unit Options Exercise -219 -0.8% 27,184 08 Feb 2023 Common Stock 219 Direct F1, F11
transaction GLW Performance Share Unit Options Exercise -959 -1% 92,967 08 Feb 2023 Common Stock 959 Direct F1, F12
holding GLW Performance Share Unit 12,570 08 Feb 2023 Common Stock 12,570 Direct F1, F2
holding GLW Restricted Stock Unit 41,536 08 Feb 2023 Common Stock 41,536 Direct F3, F4
holding GLW Restricted Stock Unit 26,703 08 Feb 2023 Common Stock 26,703 Direct F3, F5
holding GLW Restricted Stock Unit 37,518 08 Feb 2023 Common Stock 37,518 Direct F3, F6
holding GLW Restricted Stock Unit 1,257 08 Feb 2023 Common Stock 1,257 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.