David Teichmann - Jan 5, 2022 Form 4 Insider Report for Infinera Corp (INFN)

Signature
/s/ Michael Hopp, by Power of Attorney
Stock symbol
INFN
Transactions as of
Jan 5, 2022
Transactions value $
-$38,089
Form type
4
Date filed
1/7/2022, 05:36 PM
Previous filing
Dec 7, 2021
Next filing
Mar 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INFN Common Stock Options Exercise $0 +7.22K +5.84% $0.00 131K Jan 5, 2022 Direct
transaction INFN Common Stock Tax liability -$38.1K -4.05K -3.09% $9.40 127K Jan 5, 2022 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 -7.22K -100% $0.00* 0 Jan 5, 2022 Common Stock 7.22K 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 June 6, 2019, Mr. Teichmann was granted a PSU award for a target number of 65,000 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, 57,776 shares of common stock underlying this award vested on October 5, 2021 and 7,224 shares of common stock underlying this award will vest on January 5, 2022, each vesting subject to Mr. Teichmann's continued service to the Company through such date.