Wendell P. Weeks - Feb 8, 2023 Form 4 Insider Report for CORNING INC /NY (GLW)

Role
Chairman and CEO, Director
Signature
Linda E. Jolly, Power of Attorney
Stock symbol
GLW
Transactions as of
Feb 8, 2023
Transactions value $
-$169,761
Form type
4
Date filed
2/10/2023, 03:03 PM
Previous filing
Jan 9, 2023
Next filing
Feb 14, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GLW Common Stock Options Exercise +816 +0.12% 684K Feb 8, 2023 Direct F1
transaction GLW Common Stock Options Exercise +621 +0.09% 685K Feb 8, 2023 Direct F1
transaction GLW Common Stock Options Exercise +3.39K +0.5% 688K Feb 8, 2023 Direct F1
transaction GLW Common Stock Tax liability -$170K -4.83K -0.7% $35.14 683K Feb 8, 2023 Direct
holding GLW Common Stock 9.2K Feb 8, 2023 Held by Spouse F2
holding GLW Common Stock 6.58K Feb 8, 2023 Held By Spouse - Emp. Ben. Plan F2
holding GLW Common Stock 10.8K 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 +10.8K $0.00 10.8K Feb 8, 2023 Common Stock 10.8K Direct F4, F9, F10
transaction GLW Performance Share Unit Award $0 +23K $0.00 23K Feb 8, 2023 Common Stock 23K Direct F1, F11
transaction GLW Performance Share Unit Award $0 +17.5K +29.03% $0.00 77.9K Feb 8, 2023 Common Stock 17.5K Direct F1, F12
transaction GLW Performance Share Unit Award $0 +95.7K +40.46% $0.00 332K Feb 8, 2023 Common Stock 95.7K Direct F1, F13
transaction GLW Performance Share Unit Options Exercise -816 -3.55% 22.2K Feb 8, 2023 Common Stock 816 Direct F1, F11
transaction GLW Performance Share Unit Options Exercise -621 -0.8% 77.2K Feb 8, 2023 Common Stock 621 Direct F1, F12
transaction GLW Performance Share Unit Options Exercise -3.39K -1.02% 329K Feb 8, 2023 Common Stock 3.39K Direct F1, F13
holding GLW Performance Share Unit 37.7K Feb 8, 2023 Common Stock 37.7K Direct F1, F3
holding GLW Restricted Stock Unit 148K Feb 8, 2023 Common Stock 148K Direct F4, F5
holding GLW Restricted Stock Unit 76.4K Feb 8, 2023 Common Stock 76.4K Direct F4, F6
holding GLW Restricted Stock Unit 100K Feb 8, 2023 Common Stock 100K Direct F4, F7
holding GLW Restricted Stock Unit 2.9K Feb 8, 2023 Common Stock 2.9K 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 $316,000 of their cash compensation for 10,792 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.