WENDELL P. WEEKS - 02 Feb 2022 Form 4 Insider Report for CORNING INC /NY (GLW)

Role
Chairman and CEO, Director
Signature
Linda E. Jolly, Power of Attorney
Issuer symbol
GLW
Transactions as of
02 Feb 2022
Transactions value $
-$277,425
Form type
4
Filing time
04 Feb 2022, 15:22:48 UTC
Previous filing
11 Jan 2022
Next filing
16 Feb 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GLW Common Stock Options Exercise +4,273 4,273 02 Feb 2022 Direct F1
transaction GLW Common Stock Options Exercise +2,218 +52% 6,491 02 Feb 2022 Direct F1
transaction GLW Common Stock Tax liability -$277,425 -6,491 -100% $42.74 0 02 Feb 2022 Direct
holding GLW Common Stock 627,802 02 Feb 2022 By Trust
holding GLW Common Stock 10,502 02 Feb 2022 Trustee U/employee Benefit Plan
holding GLW Common Stock 9,200 02 Feb 2022 Held By Wife - In Trust F2
holding GLW Common Stock 6,372 02 Feb 2022 Held By Wife - Emp. Ben. Plan 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 GLW Performance Share Unit Award $0 +120,537 +100% $0 240,921 02 Feb 2022 Common Stock 120,537 Direct F1, F3
transaction GLW Performance Share Unit Award $0 +62,568 $0 62,568 02 Feb 2022 Common Stock 62,568 Direct F1, F4
transaction GLW Performance Share Unit Options Exercise -4,273 -1.8% 236,648 02 Feb 2022 Common Stock 4,273 Direct F1, F5
transaction GLW Performance Share Unit Options Exercise -2,218 -3.5% 60,350 02 Feb 2022 Common Stock 2,218 Direct F1, F6
holding GLW Performance Share Unit 75,410 02 Feb 2022 Common Stock 75,410 Direct F1, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Performance Share Unit represents a contingent right to receive one share of GLW common stock.
F2 The Reporting Person disclaims beneficial ownership of all securities held by spouse.
F3 Performance Share Units were earned February 2, 2022 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2021 pursuant to the 2020 agreement. Earned units remain restricted until April 14, 2023, when they vest and convert to GLW common stock, subject to service-based vesting requirement.
F4 Performance Share Units were earned February 2, 2022 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2021 pursuant to the 2021 agreement. Earned units remain restricted until April 15, 2024, when they vest and convert to GLW common stock, subject to service-based vesting requirement.
F5 Vesting to satisfy tax requirement pursuant to the 2020 agreement.
F6 Vesting to satisfy tax requirement pursuant to the 2021 agreement.
F7 Performance Share Units were earned February 3, 2021 per Compensation Committee decision that performance criteria were satisfied for fiscal year 2020 pursuant to the 2020 agreement. Earned units remain restricted until vesting. The earned units will vest ratably over 3 years from the grant date and convert to GLW common stock, subject to service-based vesting requirement.