Balan Nair - Jul 8, 2022 Form 4 Insider Report for ADTRAN INC (ADTN)

Role
Director
Signature
/s/ Michael Foliano, by power of attorney
Stock symbol
ADTN
Transactions as of
Jul 8, 2022
Transactions value $
$0
Form type
4
Date filed
7/8/2022, 04:31 PM
Previous filing
Jul 15, 2022
Next filing
Aug 1, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ADTN Common Stock Disposed to Issuer -74.2K -100% 0 Jul 8, 2022 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Balan Nair is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Includes 3,943 shares of time-based restricted stock under a restricted stock award (an "RSA") and 35.53 shares of restricted stock acquired in connection with such RSA pursuant to a dividend reinvestment feature of the applicable equity plan.
F2 Pursuant to that certain Business Combination Agreement, dated August 30, 2021, by and among the Issuer, ADVA Optical Networking SE, Acorn HoldCo, Inc. (now named ADTRAN Holdings, Inc. ("Holdings")), and Acorn MergeCo, Inc., the Issuer became a wholly owned subsidiary of Holdings on July 8, 2022 (the "Effective Time"). At the Effective Time, each share of the Issuer's common stock converted, on a one-for-one basis, into a share of common stock of Holdings.

Remarks:

The reporting person's status as a director of the Issuer terminated as of the Effective Time.