David F. Welch - Sep 13, 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
Sep 13, 2021
Transactions value $
$0
Form type
4
Date filed
9/15/2021, 06:53 PM
Previous filing
Sep 8, 2021
Next filing
Oct 6, 2021

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 Award $0 +50K $0.00 50K Sep 13, 2021 Common Stock 50K Direct F1, F2
* 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 On March 27, 2019, Dr. Welch was granted a PSU award for a target number of 50,000 shares of common stock that could become eligible to vest subject to the Company's achievement of positive operating income (the "Performance Goal") during fiscal 2019 through fiscal 2021. The Performance Goal is measured on a non-GAAP basis, either (a) for a full fiscal year or (b) for any four consecutive fiscal quarters. The Company achieved the Performance Goal during the four consecutive fiscal quarters ending with the fiscal quarter ended June 26, 2021, as certified by the Company's Compensation Committee on September 13, 2021, per the terms of the PSU award. As a result, 44,444 shares of common stock underlying this award will vest on October 5, 2021 and 5,556 shares of common stock underlying this award will vest on January 5, 2022, each vesting subject to Dr. Welch's continued service to the Company through such date.