David F. Welch - 05 Apr 2023 Form 4 Insider Report for Infinera Corp

Role: Director
Signature: /s/ Nicholas Janof, by Power of Attorney
Issuer symbol: N/A
Transactions as of: 05 Apr 2023
Net transactions value: -$21,308
Form type: 4
Filing time: 06 Apr 2023, 20:16:20 UTC
Previous filing: 13 Mar 2023
Next filing: 07 Jun 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	+8,392	+2.4%	$0.000000	351,605	05 Apr 2023	See Footnote	F1
transaction	INFN	Common Stock	Tax liability	$21,308	-2,903	-0.83%	$7.34	348,702	05 Apr 2023	See Footnote	F1, F2
holding	INFN	Common Stock						2,500	05 Apr 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	+4,167	+33%	$0.000000	16,667	05 Apr 2023	Common Stock	4,167		Direct	F4, F5
transaction	INFN	Restricted Stock Units	Options Exercise	$0	+4,225		$0.000000^*	0	05 Apr 2023	Common Stock	4,225		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, 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	These shares are held directly by Dr. Welch as a trustee for his children. Dr. Welch disclaims beneficial ownership of the shares held in trust for his 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 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 50,000 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. Welch's continued service to the Company through each applicable vesting date.
F6	These RSUs, originally for a total of 33,800 shares, vest as to one-half of the shares on the one-year anniversary of the April 5, 2021 vesting commencement date, and 1/8th of the shares vest quarterly thereafter, subject to Mr. Welch's continued service to the Company through each applicable vesting date.