Nicholas Walden - 27 Feb 2025 Form 4 Insider Report for Infinera Corp

Footnote F1

Represents the number of shares of Infinera Corporation ("Company") common stock subject to a performance share award originally granted on March 9, 2023, which accelerated to vest at 100% of the target shares granted and was converted into a right to receive cash compensation, subject to applicable tax withholding, with respect to all vested shares as a result of the merger pursuant to the previously announced Agreement and Plan of Merger, dated as of June 27, 2024, by and among Nokia Corporation ("Nokia"), Neptune of America Corporation and the Company, referred to as the "Merger Agreement".

Footnote F2

Disposed of as a result of the merger pursuant to the Merger Agreement.

Footnote F3

Each share of Company common stock held by the Reporting Person was automatically cancelled, extinguished and converted into the right to receive the consideration provided in the Merger Agreement.

Footnote F4

On March 10, 2024, the Company granted the Reporting Person a performance share award covering 72,500 shares ("PSAs") based on the achievement of a goal tied to the total stockholder return ("TSR") of the Company relative to the TSR of companies listed in the Russell 3000 Index during the relevant performance period (the "PSA Award"). The PSA Award has three performance periods, consisting of one-, two- and three- year periods beginning with the last trading day in the Company's fiscal 2023 and ending with the Company's fiscal 2024, 2025 and 2026 respectively (each, a "Performance Period"), and with one-third of the target number of shares under the PSAs allocated to each such Performance Period. Each PSA represents a contingent right to receive one share of Company common stock.

Footnote F5

Effective February 27, 2025, given the Company's TSR was positive and in the 79th percentile relative to the TSR of the companies listed on the Russell 3000 Index for the fiscal 2024 Performance Period, the Compensation Committee of the Board of Directors of the Company ("Compensation Committee") certified that 196% of the target number of shares, or 47,365 shares of Company common stock, subject to the 2024 Performance Period under the PSA Award became eligible to vest ("2024 Eligible Shares").

Footnote F6

100% of the 2024 Eligible Shares vest on March 5, 2027, subject to the Reporting Person's continued service to the Company, or any successor company, through the applicable vesting date.

Footnote F7

As a result of the merger pursuant to the Merger Agreement and in accordance with the provisions of the grant documents evidencing the PSAs granted on March 10, 2024, the fiscal 2025 and 2026 Performance Periods were shortened to end as of February 20, 2025, the date approved by the Compensation Committee for determining performance under such performance periods in accordance with the requirements of the applicable award agreements. Accordingly, effective February 27, 2025, given the Company's TSR was positive and in the 81st percentile relative to the TSR of the companies listed on the Russell 3000 Index for the fiscal 2025 and 2026 shortened Performance Periods, the Compensation Committee certified that 200% of the target number of shares subject to each such performance period or a total of 96,668 shares of Company common stock under the PSA Award became eligible to vest ("2025-2026 Eligible Shares").

Footnote F8

100% of the 2025-2026 Eligible Shares vest on March 5, 2027, subject to the Reporting Person's continued service to the Company, or any successor company, through the applicable vesting date.

Footnote F9

Each restricted stock unit ("RSU") represents a contingent right to receive one share of Company common stock.

Footnote F10

Includes shares of Company common stock underlying the unvested (i) 2024 Eligible Shares, (ii) 2025-2026 Eligible Shares, and (iii) previously reported RSUs; all of which pursuant to the Merger Agreement converted as of the Effective Time of the merger into time-based RSUs of Nokia.