Key facts
- This page summarizes David Teichmann's Form 4 filing for Infinera Corp.
- 2 reported transactions and 0 derivative rows are listed below.
- Accepted by SEC: 14 May 2024, 21:45.
David Teichmann - 12 May 2024 Form 4 Insider Report for Infinera Corp
- Reporting relationship
- Chief Legal Officer
- Issuer ticker
- N/A
- Reported as of
- 12 May 2024
- Net transaction value
- -$65,269
- SEC form
- 4
- Accepted by SEC
- 14 May 2024, 21:45:47 UTC
- Prior SEC filing
- 08 Apr 2024
- Source filing
- View source filing
- Reporting owner signature
- /s/ Nicholas Janof, by Power of Attorney
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
David Teichmann filed Form 4 for Infinera Corp on 14 May 2024.
Change
- Previous filing in this sequence was filed on 08 Apr 2024.
- Current net transaction value: -$65,269.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
INFN
transaction
Common Stock
Award
- Transaction value
- $0
- Shares
- +34,800
- Change %
- +13%
- Price
- $0.000000
- Shares after
- 307,540
- Date
- 12 May 2024
- Ownership
- Direct
- Footnotes
- F1, F2
INFN
transaction
Common Stock
Tax liability
- Transaction value
- $65,269
- Shares
- -12,899
- Change %
- -4.2%
- Price
- $5.06
- Shares after
- 294,641
- Date
- 12 May 2024
- Ownership
- Direct
- Footnotes
- F3
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 3 footnotes
Footnote F1
On March 9, 2021, Infinera Corporation (the "Company") granted Mr. Teichmann a performance share award covering 50,000 shares ("PSAs") that could be earned during fiscal 2021 through fiscal 2023, based on achievement of (a) performance goals applicable to the first 50% of the award (a "tranche") consisting of a non-GAAP operating income goal and a revenue goal, and (b) a performance goal for the second 50% tranche consisting of a non-GAAP operating income goal, in each case measured over a full fiscal year during the performance period (the "PSA Award"). Each PSA represents a contingent right to receive one share of common stock of the Company.
Footnote F2
On May 12, 2024, given fiscal 2023 non-GAAP operating income of $87.2 million and revenue of $1,614.1 million, the Compensation Committee of the Board of Directors of the Company certified that (i) 77.06% of the shares subject to the first tranche of the PSA Award became eligible to vest and (ii) 62.14% of the shares subject to the second tranche of the PSA Award became eligible to vest. As a result, 34,800 shares of common stock underlying the PSA Award vested on May 12, 2024. The balance of 15,200 shares subject to the PSA Award were forfeited.
Footnote F3
Represents shares that have been withheld by Company to satisfy tax withholding and remittance obligations in connection with the net settlement of vested PSAs granted to Mr. Teichmann on March 9, 2021.