David W. Heard - Jul 5, 2022 Form 4 Insider Report for Infinera Corp (INFN)

Role: Chief Executive Officer, Director
Signature: /s/ Nicholas Janof, by Power of Attorney
Stock symbol: INFN
Transactions as of: Jul 5, 2022
Transactions value $: -$41,509
Form type: 4
Date filed: 7/7/2022, 07:35 PM
Previous filing: Jun 7, 2022
Next filing: Sep 7, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	INFN	Common Stock	Options Exercise	$0	+14.3K	+2.3%	$0.00	638K	Jul 5, 2022	Direct
transaction	INFN	Common Stock	Tax liability	-$41.5K	-7.55K	-1.18%	$5.50	630K	Jul 5, 2022	Direct	F1

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	-14.3K	-12.5%	$0.00	100K	Jul 5, 2022	Common Stock	14.3K		Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares that have been withheld by Infinera Corporation (the "Company") to satisfy tax withholding and remittance obligations in connection with the net settlement of vested restricted stock units (RSU).
F2	Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the Company.
F3	These RSUs, originally for a total of 172,000 shares, vest as to one-third of the shares on the one-year anniversary of the April 5, 2021 vesting commencement date, and 1/12th of the shares vest quarterly thereafter, subject to Mr. Heard's continued service to the Company through each applicable vesting date.