Form 4: Corning CEO Wendell Weeks Reports Stock Transactions
SEC Form 4 Filing
Chairman and CEO of Corning, Wendell Weeks, reports the disposition of common stock and performance share units.
Summary
- Wendell Weeks, Chairman and CEO of Corning Inc., filed a Form 4 detailing changes in beneficial ownership.
- On February 10, 2025, Weeks disposed of 5,733 shares of common stock and 2,277 shares at a price of $53.05.
- Following these transactions, Weeks directly owns 862,820 shares of common stock.
- Weeks also indirectly owns shares held by his spouse (9,200 shares) and through employee benefit plans (18,524.0599 shares).
- Additionally, Weeks disposed of 5,733 Performance Share Units (PSUs) and now holds 11,466 PSUs.
- These PSUs represent a contingent right to receive Corning common stock, with vesting dates in April 2025, 2026, and 2027.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting stock transactions, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is a common practice among publicly traded companies.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership by a key executive.
Key Dates
| Date | Description |
|---|---|
| 01/31/2025 | Date of unitized stock fund holdings in the issuer's 401(k) retirement plan. |
| 02/10/2025 | Date of stock and PSU transactions. |
| 02/12/2025 | Date of signature by Power of Attorney. |
| 04/15/2025 | Vesting date for 150,178 Earned PSUs. |
| 04/15/2026 | Vesting date for 120,655 Earned PSUs. |
| 04/15/2027 | Vesting date for 100,840 Earned PSUs. |
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