DAVID W. HEARD - 05 Mar 2023 Form 4 Insider Report for Infinera Corp

Role: Chief Executive Officer, Director
Signature: /s/ Nicholas Janof, by Power of Attorney
Issuer symbol: N/A
Transactions as of: 05 Mar 2023
Net transactions value: -$417,920
Form type: 4
Filing time: 07 Mar 2023, 17:03:41 UTC
Previous filing: 09 Jan 2023
Next filing: 13 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	INFN	Common Stock	Options Exercise	$0	+108,288	+16%	$0.000000	789,171	05 Mar 2023	Direct
transaction	INFN	Common Stock	Tax liability	$417,920	-57,015	-7.2%	$7.33	732,156	05 Mar 2023	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	-10,417	-100%	$0.000000^*	0	05 Mar 2023	Common Stock	10,417		Direct	F2, F3
transaction	INFN	Restricted Stock Units	Options Exercise	$0	-20,833	-25%	$0.000000	62,500	05 Mar 2023	Common Stock	20,833		Direct	F2, F4
transaction	INFN	Restricted Stock Units	Options Exercise	$0	-77,038	-33%	$0.000000	154,073	05 Mar 2023	Common Stock	77,038		Direct	F2, F5

* 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 ("RSUs").
F2	Each RSU represents a contingent right to receive one share of common stock of the Company.
F3	These RSUs, originally for a total of 125,000 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 Mr. Heard's continued service to the Company through each applicable vesting date.
F4	These RSUs, originally for a total of 250,000 shares, vest as to one-third of the shares on the one-year anniversary of the December 5, 2020 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.
F5	These RSUs, originally for a total of 231,111 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 Mr. Heard's continued service to the Company through each applicable vesting date.