David F. Welch - Apr 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: Apr 5, 2024
Transactions value $: -$82,174
Form type: 4
Date filed: 4/8/2024, 09:38 PM
Previous filing: Mar 12, 2024
Next filing: Jun 7, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	INFN	Common Stock	Options Exercise	$0	+37.5K	+9.92%	$0.00	416K	Apr 5, 2024	See Footnote	F1
transaction	INFN	Common Stock	Tax liability	-$82.2K	-14.2K	-3.41%	$5.80	401K	Apr 5, 2024	See Footnote	F1, F2
holding	INFN	Common Stock						2.5K	Apr 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	-100%	$0.00^*	0	Apr 5, 2024	Common Stock	4.17K		Direct	F4, F5
transaction	INFN	Restricted Stock Units	Options Exercise	$0	-33.3K	-33.33%	$0.00	66.7K	Apr 5, 2024	Common Stock	33.3K		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 ("The Welch Family Trust"), 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 quarterly thereafter, subject to Dr. Welch's continued service to the Company through each applicable vesting date.
F6	These RSUs, originally for a total of 100,000 shares, vest as to one-third of the shares on the one-year anniversary of the April 5, 2023 vesting commencement date, and 1/12th quarterly thereafter, subject to Dr. Welch's continued service to the Company through each applicable vesting date.