DAVID W. HEARD - 05 May 2022 Form 4 Insider Report for Infinera Corp

Role: Chief Executive Officer, Director
Signature: /s/ David L. Teichmann, by Power of Attorney
Issuer symbol: N/A
Transactions as of: 05 May 2022
Net transactions value: -$183,293
Form type: 4
Filing time: 09 May 2022, 09:21:09 UTC
Previous filing: 07 Apr 2022
Next filing: 19 May 2022
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	+17,187	+3.2%	$0.000000	556,566	05 May 2022	Direct
transaction	INFN	Common Stock	Options Exercise	$0	+73,333	+13%	$0.000000	629,899	05 May 2022	Direct
transaction	INFN	Common Stock	Tax liability	$301,681	-47,659	-7.6%	$6.33	582,240	05 May 2022	Direct	F1
transaction	INFN	Common Stock	Purchase	$118,388	+20,000	+3.4%	$5.92	602,240	06 May 2022	Direct	F2

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	-17,187	-100%	$0.000000^*	0	05 May 2022	Common Stock	17,187		Direct	F3, F4
transaction	INFN	Restricted Stock Units	Options Exercise	$0	-73,333	-100%	$0.000000^*	0	05 May 2022	Common Stock	73,333		Direct	F3, F5

* 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	This price represents the weighted average purchase price of the shares bought in multiple transactions at prices ranging from $5.9125 to $5.925 per share. Upon request by the staff of the Securities and Exchange Commission, the Company or a security holder of the Company, Mr. Heard will provide full information regarding the number of shares purchased at each separate price.
F3	Each RSU represents a contingent right to receive one share of common stock of the Company.
F4	These RSUs, originally for a total of 68,750 shares, vested as to one-fourth of the shares on each one-year anniversary of the May 5, 2018 vesting commencement date, subject to Mr. Heard's continued service to the Company through each applicable vesting date.
F5	These RSUs, originally for a total of 220,000 shares, vested as to one-third of the shares on each one-year anniversary of the May 5, 2019 vesting commencement date, subject to Mr. Heard's continued service to the Company through each applicable vesting date.