David F. Welch - May 5, 2021 Form 4 Insider Report for Infinera Corp (INFN)

Role
Director
Signature
/s/ Michael Hopp, by Power of Attorney
Stock symbol
INFN
Transactions as of
May 5, 2021
Transactions value $
-$280,403
Form type
4
Date filed
5/7/2021, 07:02 PM
Next filing
Jun 8, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INFN Common Stock Options Exercise $0 +33.3K +5.49% $0.00 641K May 5, 2021 See Footnote F1
transaction INFN Common Stock Tax liability -$101K -11.8K -1.84% $8.58 629K May 5, 2021 See Footnote F1
transaction INFN Common Stock Options Exercise $0 +17.2K +2.73% $0.00 646K May 5, 2021 See Footnote F1
transaction INFN Common Stock Tax liability -$51K -5.94K -0.92% $8.58 640K May 5, 2021 See Footnote F1
transaction INFN Common Stock Options Exercise $0 +28.7K +4.48% $0.00 669K May 5, 2021 See Footnote F1
transaction INFN Common Stock Tax liability -$85.2K -9.93K -1.48% $8.58 659K May 5, 2021 See Footnote F1
transaction INFN Common Stock Options Exercise $0 +14.5K +2.21% $0.00 673K May 5, 2021 See Footnote F1
transaction INFN Common Stock Tax liability -$43.2K -5.03K -0.75% $8.58 668K May 5, 2021 See Footnote F1
holding INFN Common Stock 2.5K May 5, 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 -33.3K -50% $0.00 33.3K May 5, 2021 Common Stock 33.3K Direct F3, F4
transaction INFN Restricted Stock Units Options Exercise $0 -17.2K -50% $0.00 17.2K May 5, 2021 Common Stock 17.2K Direct F3, F5
transaction INFN Restricted Stock Units Options Exercise $0 -28.7K -100% $0.00* 0 May 5, 2021 Common Stock 28.7K Direct F3, F6
transaction INFN Restricted Stock Units Options Exercise $0 -14.5K -100% $0.00* 0 May 5, 2021 Common Stock 14.5K 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.