Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|
transaction | INFN | Common Stock | Options Exercise | $0 | +24.4K | +5.04% | $0.00 | 510K | Jan 5, 2022 | Direct | |
transaction | INFN | Common Stock | Tax liability | -$123K | -13K | -2.56% | $9.40 | 496K | Jan 5, 2022 | Direct |
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 | -24.4K | -100% | $0.00* | 0 | Jan 5, 2022 | Common Stock | 24.4K | 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 February 20, 2019, Mr. Heard was granted a PSU award for a target number of 220,000 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, 195,554 shares of common stock underlying this award vested on October 5, 2021 and 24,446 shares of common stock underlying this award will vest on January 5, 2022, each vesting subject to Mr. Heard's continued service to the Company through such date. |