Johanna Hey - Aug 9, 2023 Form 4 Insider Report for ADTRAN Holdings, Inc. (ADTN)

Role: Director
Signature: /s/ Dan Ragsdale, by power of attorney
Stock symbol: ADTN
Transactions as of: Aug 9, 2023
Transactions value $: $578
Form type: 4
Date filed: 9/7/2023, 05:15 PM
Previous filing: Jun 8, 2023
Next filing: Sep 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ADTN	Common Stock	Options Exercise		+46	+0.55%		8.37K	Aug 9, 2023	Direct	F1
transaction	ADTN	Common Stock	Disposed to Issuer		-0.973	-0.01%		8.37K	Aug 9, 2023	Direct	F1

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	-46	-31.62%	$0.00	99.4	Aug 9, 2023	Common Stock	46		Direct	F1
transaction	ADTN	Dividend Equivalent Rights	Award	$578	+69	+69.44%	$8.37	168	Sep 5, 2023	Common Stock	69		Direct	F2

* 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 quarterly cash dividends paid on restricted stock awards (RSAs), 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 cash for any fractional shares.

Content

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.

Represents quarterly cash dividends paid on restricted stock awards (RSAs), 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 cash for any fractional shares.