LEWIS A. STEVERSON - 08 Feb 2024 Form 4 Insider Report for CORNING INC /NY (GLW)

Signature
Linda E. Jolly, Power of Attorney
Issuer symbol
GLW
Transactions as of
08 Feb 2024
Net transactions value
-$67,014
Form type
4
Filing time
12 Feb 2024, 16:16:03 UTC
Previous filing
08 Feb 2024
Next filing
03 Apr 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GLW Common Stock Options Exercise $0 +1,939 +6.6% $0.000000 31,317 08 Feb 2024 Direct
transaction GLW Common Stock Options Exercise $0 +3,915 +13% $0.000000 35,232 08 Feb 2024 Direct
transaction GLW Common Stock Tax liability $67,014 -2,112 -6% $31.73 33,120 08 Feb 2024 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 Options Exercise $0 -1,939 -67% $0.000000 970 08 Feb 2024 Common Stock 1,939 Direct F5, F9
transaction GLW Performance Share Unit Options Exercise $0 -3,915 -33% $0.000000 7,830 08 Feb 2024 Common Stock 3,915 Direct F1, F10
holding GLW Performance Share Unit 32,450 08 Feb 2024 Common Stock 32,450 Direct F1, F2
holding GLW Performance Share Unit 14,287 08 Feb 2024 Common Stock 14,287 Direct F1, F3
holding GLW Performance Share Unit 7,928 08 Feb 2024 Common Stock 7,928 Direct F1, F4
holding GLW Restricted Stock Unit 22,430 08 Feb 2024 Common Stock 22,430 Direct F5, F6
holding GLW Restricted Stock Unit 29,955 08 Feb 2024 Common Stock 29,955 Direct F5, F7
holding GLW Restricted Stock Unit 31,109 08 Feb 2024 Common Stock 31,109 Direct F5, 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 Performance share units (PSUs) were earned February 7, 2024 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2023 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.
F3 Performance share units (PSUs) were earned February 7, 2024 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2023 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.
F4 Performance share units (PSUs) were earned February 7, 2024 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2023 pursuant to the 2023 agreement. Earned PSUs remain restricted until April 15, 2026, when they vest and convert to common stock, subject to service-based vesting requirement.
F5 Each restricted stock unit represents a contingent right to receive one share of Corning Incorporated common stock.
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 (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.
F9 The restricted stock units (RSUs) granted on February 8, 2023 will vest 2/3 after 1 year and 1/3 after 18 months from the grant date.
F10 The performance share units (PSUs) earned February 7, 2024 will vest 1/3 after 1 year from the February 8, 2023 grant date and 1/6 every 6 months thereafter until fully vested on the third anniversary of the grant date.