Gregory J. McCray - Dec 31, 2022 Form 4 Insider Report for ADTRAN Holdings, Inc. (ADTN)

Role
Director
Signature
Michael Foliano, by power of attorney
Stock symbol
ADTN
Transactions as of
Dec 31, 2022
Transactions value $
-$9
Form type
4
Date filed
1/4/2023, 03:36 PM
Previous filing
Dec 9, 2022
Next filing
Jan 25, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ADTN Common Stock Options Exercise +69.5 +0.32% 21.7K Dec 31, 2022 Direct F1
transaction ADTN Common Stock Disposed to Issuer -$9 -0.474 0% $18.79 21.7K Dec 31, 2022 Direct F1
transaction ADTN Common Stock Award $0 +4.79K +22.03% $0.00 26.5K Dec 31, 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 ADTN Dividend Equivalent Rights Options Exercise $0 -69.5 -100.01% $0.00* 0 Dec 31, 2022 Common Stock 69.5 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Settlement of dividend equivalent rights (DERs) in connection with the lapse of restrictions on restricted stock awards (RSAs). The DER's represent quarterly cash dividends paid on restricted stock awards, which are credited to a bookkeeping account and hypothetically invested in shares of common stock until the underlying RSAs vest. Upon vesting, the Company pays the Reporting Person the accumulated value of the bookkeeping account in the form of whole shares of common stock, plus any remaining cash.
F2 Represents restricted stock award grant that vests in full on the first anniversary of the date of grant.