Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|
transaction | INFN | Common Stock | Options Exercise | $0 | +167K | +89.86% | $0.00 | 352K | Oct 5, 2021 | Direct | |
transaction | INFN | Common Stock | Tax liability | -$683K | -82.6K | -23.47% | $8.27 | 269K | Oct 5, 2021 | Direct |
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 | -167K | -88.89% | $0.00 | 20.8K | Oct 5, 2021 | Common Stock | 188K | Direct | F1, F2 |
Id | Content |
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F1 | Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of Infinera Corporation (the "Company"). |
F2 | On August 26, 2019, Ms. Erba was granted a PSU award for a target number of 187,500 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, 166,666 shares of common stock underlying this award will vest on October 5, 2021 and 20,834 shares of common stock underlying this award will vest on January 5, 2022, each vesting subject to Ms. Erba's continued service to the Company through such date. |