Balan Nair - Jul 8, 2022 Form 4 Insider Report for ADTRAN Holdings, 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: 7/11/2022, 04:50 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	Award		-74.2K	-50%		74.2K	Jul 8, 2022	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to that certain Business Combination Agreement, dated August 30, 2021, by and among ADTRAN, Inc., ADVA Optical Networking SE, the Issuer (f/k/a Acorn HoldCo, Inc.), and Acorn MergeCo, Inc., ADTRAN, Inc. became a wholly owned subsidiary of the Issuer on July 8, 2022 (the "Effective Time"). At the Effective Time, each share of ADTRAN, Inc.'s common stock converted, on a one-for-one basis, into a share of the Issuer's common stock.
F2	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.

Content

Pursuant to that certain Business Combination Agreement, dated August 30, 2021, by and among ADTRAN, Inc., ADVA Optical Networking SE, the Issuer (f/k/a Acorn HoldCo, Inc.), and Acorn MergeCo, Inc., ADTRAN, Inc. became a wholly owned subsidiary of the Issuer on July 8, 2022 (the "Effective Time"). At the Effective Time, each share of ADTRAN, Inc.'s common stock converted, on a one-for-one basis, into a share of the Issuer's common stock.

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.