David F. Welch - 05 May 2021 Form 4 Insider Report for Infinera Corp

Role
Director
Signature
/s/ Michael Hopp, by Power of Attorney
Issuer symbol
N/A
Transactions as of
05 May 2021
Net transactions value
-$280,403
Form type
4
Filing time
07 May 2021, 19:02:12 UTC
Next filing
08 Jun 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INFN Common Stock Options Exercise $0 +33,333 +5.5% $0.000000 640,645 05 May 2021 See Footnote F1
transaction INFN Common Stock Tax liability $101,055 -11,778 -1.8% $8.58 628,867 05 May 2021 See Footnote F1
transaction INFN Common Stock Options Exercise $0 +17,187 +2.7% $0.000000 646,054 05 May 2021 See Footnote F1
transaction INFN Common Stock Tax liability $51,000 -5,944 -0.92% $8.58 640,110 05 May 2021 See Footnote F1
transaction INFN Common Stock Options Exercise $0 +28,707 +4.5% $0.000000 668,817 05 May 2021 See Footnote F1
transaction INFN Common Stock Tax liability $85,174 -9,927 -1.5% $8.58 658,890 05 May 2021 See Footnote F1
transaction INFN Common Stock Options Exercise $0 +14,549 +2.2% $0.000000 673,439 05 May 2021 See Footnote F1
transaction INFN Common Stock Tax liability $43,175 -5,032 -0.75% $8.58 668,407 05 May 2021 See Footnote F1
holding INFN Common Stock 2,500 05 May 2021 See Footnote 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 INFN Restricted Stock Units Options Exercise $0 -33,333 -50% $0.000000 33,333 05 May 2021 Common Stock 33,333 Direct F3, F4
transaction INFN Restricted Stock Units Options Exercise $0 -17,187 -50% $0.000000 17,187 05 May 2021 Common Stock 17,187 Direct F3, F5
transaction INFN Restricted Stock Units Options Exercise $0 -28,707 -100% $0.000000* 0 05 May 2021 Common Stock 28,707 Direct F3, F6
transaction INFN Restricted Stock Units Options Exercise $0 -14,549 -100% $0.000000* 0 05 May 2021 Common Stock 14,549 Direct F3, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares are held directly by The Welch Family Trust U/A DTD 4/3/1996 ("The Welch Family Trust"), for which Dr. Welch is a trustee.
F2 These shares are held directly by Dr. Welch as a trustee for his children. Dr. Welch disclaims beneficial ownership of the shares held in trust for his children, and this report shall not be deemed an admission that Dr. Welch is the beneficial owner of the shares held in trust for his children for purposes of Section 16 or for any other purpose.
F3 Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of Infinera Corporation (the "Company").
F4 These RSUs vest in three annual installments beginning on May 5, 2020, subject to Dr. Welch's continued service to the Company through each applicable vesting date.
F5 These RSUs vest in three annual installments beginning on May 5, 2019, subject to Dr. Welch's continued service to the Company through each applicable vesting date.
F6 These RSUs vest in four annual installments beginning on May 5, 2018, subject to Dr. Welch's continued service to the Company through each applicable vesting date.
F7 On February 15, 2018, Dr. Welch was granted a PSU award for a target number of 45,833 shares of common stock that could become eligible to vest in three equal separate installments, subject to the achievement of certain performance criteria in each of the three different performance periods. The shares were eligible to vest based on the TSR performance of the Company in each performance period relative to that of the companies that comprise the S&P Networking Index. The performance objective related to this award was partially achieved for the third performance period, as determined by the Company's Compensation Committee per the terms of the original grant, resulting in an RSU award of 14,549 shares that was subject to time-based vesting. This time-based vesting was satisfied on May 5, 2021. The Form 4 filed on March 11, 2021 with respect to the performance vesting of the PSU award erroneously stated that the RSU award was for 14,550 shares.