David F. Welch - Mar 5, 2023 Form 4 Insider Report for Infinera Corp (INFN)

Role
Director
Signature
/s/ Nicholas Janof, by Power of Attorney
Stock symbol
INFN
Transactions as of
Mar 5, 2023
Transactions value $
-$104,460
Form type
4
Date filed
3/7/2023, 05:03 PM
Previous filing
Jan 9, 2023
Next filing
Mar 13, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INFN Common Stock Options Exercise $0 +39.6K +12.45% $0.00 357K Mar 5, 2023 See Footnote F1
transaction INFN Common Stock Tax liability -$104K -14.3K -3.99% $7.33 343K Mar 5, 2023 See Footnote F1, F2
holding INFN Common Stock 2.5K Mar 5, 2023 See Footnote F3

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 -6.25K -100% $0.00* 0 Mar 5, 2023 Common Stock 6.25K Direct F4, F5
transaction INFN Restricted Stock Units Options Exercise $0 -33.3K -33.33% $0.00 66.7K Mar 5, 2023 Common Stock 33.3K Direct F4, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares are held directly by The Welch Family Trust U/A DTD 4/3/1996 ("The Welch Family Trust"), for which Dr. Welch is a trustee.
F2 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 ("RSUs").
F3 Shares held directly by Dr. Welch as a trustee for his minor children. Dr. Welch disclaims beneficial ownership of the shares held in trust for his minor children, and this report shall not be deemed an admission that Dr. Welch is the beneficial owner of the shares held in trust for his minor children for purposes of Section 16 or for any other purpose.
F4 Each RSU represents a contingent right to receive one share of common stock of the Company.
F5 These RSUs, originally for a total of 75,000 shares, vest as to one-third of the shares on the one-year anniversary of the March 5, 2020 vesting commencement date, and 1/12th of the shares vest quarterly thereafter, subject to Dr. Welch's continued service to the Company through each applicable vesting date.
F6 These RSUs, originally for a total of 100,000 shares, vest as to one-third of the shares on the one-year anniversary of the March 5, 2022 vesting commencement date, and 1/12th of the shares vest quarterly thereafter, subject to Dr. Welch's continued service to the Company through each applicable vesting date.