Fallon Thomas J - 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 $
-$274,320
Form type
4
Date filed
5/7/2021, 07:03 PM
Next filing
May 21, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INFN Common Stock Options Exercise $0 +64.5K +3.86% $0.00 1.73M May 5, 2021 See Footnote F1
transaction INFN Common Stock Tax liability -$274K -32K -1.84% $8.58 1.7M May 5, 2021 See Footnote F1

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 -64.5K -100% $0.00* 0 May 5, 2021 Common Stock 64.5K Direct F2, F3
* 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 Fallon Family Revocable Trust dated 9/7/94, for which Mr. Fallon is a trustee.
F2 Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of Infinera Corporation (the "Company").
F3 On February 15, 2018, Mr. Fallon was granted a PSU award for a target number of 203,125 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 64,485 shares that was subject to time-based vesting. This time-based vesting was satisfied on May 5, 2021.