David F. Welch - Jan 5, 2024 Form 4 Insider Report for Infinera Corp (INFN)

Role
Director
Signature
/s/ Nicholas Janof, by Power of Attorney
Stock symbol
INFN
Transactions as of
Jan 5, 2024
Transactions value $
-$6,312
Form type
4
Date filed
1/8/2024, 06:21 PM
Previous filing
Dec 6, 2023
Next filing
Mar 6, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INFN Common Stock Options Exercise $0 +4.17K +1.12% $0.00 375K Jan 5, 2024 See Footnote F1
transaction INFN Common Stock Tax liability -$6.31K -1.44K -0.38% $4.38 373K Jan 5, 2024 See Footnote F1, F2
holding INFN Common Stock 2.5K Jan 5, 2024 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 -4.17K -50% $0.00 4.17K Jan 5, 2024 Common Stock 4.17K Direct F4, F5
* 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 Infinera Corporation common stock.
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 Dr. Welch's continued service to the Company through each applicable vesting date.