Michael H. Fernicola - Jun 5, 2023 Form 4 Insider Report for Infinera Corp (INFN)

Role: Chief Accounting Officer
Signature: /s/ Nicholas Janof, by Power of Attorney
Stock symbol: INFN
Transactions as of: Jun 5, 2023
Transactions value $: -$13,771
Form type: 4
Date filed: 6/7/2023, 06:32 PM
Previous filing: Apr 6, 2023
Next filing: Jul 7, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	INFN	Common Stock	Options Exercise	$0	+5.83K	+6.05%	$0.00	102K	Jun 5, 2023	Direct
transaction	INFN	Common Stock	Tax liability	-$13.8K	-2.89K	-2.83%	$4.76	99.3K	Jun 5, 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	-5.83K	-12.5%	$0.00	40.8K	Jun 5, 2023	Common Stock	5.83K		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 ("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 70,000 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 Mr. Fernicola's continued service to the Company through each applicable vesting date.