David F. Welch - 05 Jan 2024 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 Jan 2024
Net transactions value: -$6,312
Form type: 4
Filing time: 08 Jan 2024, 18:21:12 UTC
Previous filing: 06 Dec 2023
Next filing: 06 Mar 2024
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	+4,167	+1.1%	$0.000000	374,672	05 Jan 2024	See Footnote	F1
transaction	INFN	Common Stock	Tax liability	$6,312	-1,441	-0.38%	$4.38	373,231	05 Jan 2024	See Footnote	F1, F2
holding	INFN	Common Stock						2,500	05 Jan 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	-4,167	-50%	$0.000000	4,167	05 Jan 2024	Common Stock	4,167		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.