Wendell P. Weeks - Apr 14, 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
Apr 14, 2023
Transactions value $
-$8,072,751
Form type
4
Date filed
4/18/2023, 04:16 PM
Previous filing
Apr 5, 2023
Next filing
May 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GLW Common Stock Options Exercise $0 +329K +48.16% $0.00 1.01M Apr 14, 2023 Direct
transaction GLW Common Stock Options Exercise $0 +148K +14.58% $0.00 1.16M Apr 14, 2023 Direct
transaction GLW Common Stock Tax liability -$8.07M -232K -20.01% $34.78 928K Apr 14, 2023 Direct
holding GLW Common Stock 9.2K Apr 14, 2023 Held by Spouse F1
holding GLW Common Stock 6.63K Apr 14, 2023 Held By Spouse - Emp. Ben. Plan F1, F2
holding GLW Common Stock 10.9K Apr 14, 2023 Trustee U/employee Benefit Plan F2

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 -329K -100% $0.00* 0 Apr 14, 2023 Common Stock 329K Direct F5, F13
transaction GLW Restricted Stock Unit Options Exercise $0 -148K -100% $0.00* 0 Apr 14, 2023 Common Stock 148K Direct F3, F14
holding GLW Restricted Stock Unit 10.8K Apr 14, 2023 Common Stock 10.8K Direct F3, F4
holding GLW Performance Share Unit 77.2K Apr 14, 2023 Common Stock 77.2K Direct F5, F6
holding GLW Performance Share Unit 22.2K Apr 14, 2023 Common Stock 22.2K Direct F5, F7
holding GLW Performance Share Unit 37.7K Apr 14, 2023 Common Stock 37.7K Direct F5, F8
holding GLW Restricted Stock Unit 76.4K Apr 14, 2023 Common Stock 76.4K Direct F3, F9
holding GLW Restricted Stock Unit 100K Apr 14, 2023 Common Stock 100K Direct F3, F10
holding GLW Restricted Stock Unit 109K Apr 14, 2023 Common Stock 109K Direct F3, F11
holding GLW Restricted Stock Unit 2.9K Apr 14, 2023 Common Stock 2.9K Direct F3, F12
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person disclaims beneficial ownership of all securities held by spouse.
F2 Ownership is represented by units held in a unitized stock fund through the issuer's 401(k) retirement plan as of March 31, 2023.
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 2/3 after 1 year and 1/3 after 18 months from the grant date.
F5 Each performance share unit represents a contingent right to receive one share of Corning Incorporated common stock.
F6 Earned performance share units (PSUs) remain restricted until April 15, 2024, when they vest and convert to common stock, subject to service-based vesting requirement.
F7 Earned performance share units (PSUs) remain restricted until April 15, 2025, when they vest and convert to common stock, subject to service-based vesting requirement.
F8 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.
F9 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.
F10 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.
F11 The restricted stock units (RSUs) vest 100% on April 15, 2026. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to the vesting date.
F12 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.
F13 The performance share units vested 100% on April 14, 2023.
F14 The restricted stock units vested 100% on April 14, 2023.