Nicholas Walden - May 5, 2021 Form 4 Insider Report for Infinera Corp (INFN)

Role
SVP, Worldwide Sales
Signature
/s/ Michael Hopp, by Power of Attorney
Stock symbol
INFN
Transactions as of
May 5, 2021
Transactions value $
-$110,304
Form type
4
Date filed
5/7/2021, 07:05 PM
Next filing
Aug 6, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INFN Common Stock Options Exercise $0 +2.5K +20.14% $0.00 14.9K May 5, 2021 Direct
transaction INFN Common Stock Tax liability -$10.6K -1.24K -8.32% $8.58 13.7K May 5, 2021 Direct
transaction INFN Common Stock Options Exercise $0 +2.47K +18.04% $0.00 16.1K May 5, 2021 Direct
transaction INFN Common Stock Tax liability -$10.5K -1.22K -7.58% $8.58 14.9K May 5, 2021 Direct
transaction INFN Common Stock Options Exercise $0 +4.53K +30.39% $0.00 19.4K May 5, 2021 Direct
transaction INFN Common Stock Tax liability -$19.3K -2.25K -11.56% $8.58 17.2K May 5, 2021 Direct
transaction INFN Common Stock Options Exercise $0 +12.5K +72.68% $0.00 29.7K May 5, 2021 Direct
transaction INFN Common Stock Tax liability -$53.2K -6.2K -20.87% $8.58 23.5K May 5, 2021 Direct
transaction INFN Common Stock Options Exercise $0 +3.93K +16.7% $0.00 27.4K May 5, 2021 Direct
transaction INFN Common Stock Tax liability -$16.7K -1.95K -7.1% $8.58 25.5K May 5, 2021 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 INFN Restricted Stock Units Options Exercise $0 -2.5K -100% $0.00* 0 May 5, 2021 Common Stock 2.5K Direct F1, F2
transaction INFN Restricted Stock Units Options Exercise $0 -2.47K -100% $0.00* 0 May 5, 2021 Common Stock 2.47K Direct F1, F3
transaction INFN Restricted Stock Units Options Exercise $0 -4.53K -50% $0.00 4.53K May 5, 2021 Common Stock 4.53K Direct F1, F4
transaction INFN Restricted Stock Units Options Exercise $0 -12.5K -50% $0.00 12.5K May 5, 2021 Common Stock 12.5K Direct F1, F5
transaction INFN Restricted Stock Units Options Exercise $0 -3.93K -12.5% $0.00 27.5K May 5, 2021 Common Stock 3.93K Direct F1, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of Infinera Corporation (the "Company").
F2 These RSUs vest in four annual installments beginning on May 5, 2018, subject to Mr. Walden's continued service to the Company through each applicable vesting date.
F3 On February 15, 2018, Mr. Walden was granted a PSU award for a target number of 7,772 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 2,466 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 2,467 shares.
F4 These RSUs vest in four annual installments beginning on May 5, 2019, subject to Mr. Walden's continued service to the Company through each applicable vesting date.
F5 These RSUs vest in three annual installments beginning on May 5, 2020, subject to Mr. Walden's continued service to the Company through each applicable vesting date.
F6 The RSUs vest as to one-third of the shares on the one year anniversary of the vesting commencement date, which is February 5, 2020, and 1/12th quarterly thereafter, subject to Mr. Walden's continued service to the Company.