David F. Welch - May 5, 2022 Form 4 Insider Report for Infinera Corp (INFN)

Role
Director
Signature
/s/ David L. Teichmann, by Power of Attorney
Stock symbol
INFN
Transactions as of
May 5, 2022
Transactions value $
-$110,591
Form type
4
Date filed
5/9/2022, 09:23 AM
Previous filing
Apr 7, 2022
Next filing
Jun 7, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction INFN Common Stock Options Exercise $0 +17.2K +9.58% $0.00 197K May 5, 2022 See Footnote F1
transaction INFN Common Stock Options Exercise $0 +33.3K +16.96% $0.00 230K May 5, 2022 See Footnote F1
transaction INFN Common Stock Tax liability -$111K -17.5K -7.6% $6.33 212K May 5, 2022 See Footnote F1, F2
holding INFN Common Stock 2.5K May 5, 2022 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 -17.2K -100% $0.00* 0 May 5, 2022 Common Stock 17.2K Direct F4, F5
transaction INFN Restricted Stock Units Options Exercise $0 -33.3K -100% $0.00* 0 May 5, 2022 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 Shares held directly by Dr. Welch as a trustee for his minor children. Dr. Welch disclaims beneficial ownership of the shares held in trust for his minor 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 minor 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 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 Dr. Welch's continued service to the Company through each applicable vesting date.
F6 These RSUs, originally for a total of 100,000 shares, vested as to one-third of the shares on each one-year anniversary of the May 5, 2019 vesting commencement date, subject to Dr. Welch's continued service to the Company through each applicable vesting date.