Form 4: Corning Inc. Executive Avery H. Nelson III Reports Acquisition of Restricted Stock Units
SEC Form 4 Filing
Avery H. Nelson III, SVP&GM at Corning Inc., reports the acquisition of restricted stock units and adjustments to beneficial ownership of common stock.
Summary
- On April 3, 2024, Avery H. Nelson III, a Senior Vice President and General Manager at Corning Incorporated, filed a Form 4.
- The filing details changes in beneficial ownership of Corning's common stock.
- Nelson acquired 22,498 restricted stock units (RSUs) on April 1, 2024, which vest 100% on April 15, 2027.
- He also indirectly owns 3,700.6665 shares of common stock through a trustee u/Employee Benefit Plan.
- Nelson directly owns 45,650 shares of Corning common stock.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing, so the sentiment is neither positive nor negative.
Future Outlook
The document outlines the vesting schedule for various restricted stock units, indicating future compensation and potential equity ownership for the reporting person.
Industry Context
This filing is a routine disclosure related to executive compensation and equity ownership, common in publicly traded companies like Corning Inc.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) as a way to align management's interests with those of shareholders.
- Vesting schedules for RSUs typically range from one to five years, with some companies using performance-based vesting criteria.
- Companies like Apple, Samsung, and 3M also utilize RSUs as part of their executive compensation plans.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and equity ownership.
- It assures stakeholders that executives' interests are aligned with the company's long-term performance.
Key Dates
| Date | Description |
|---|---|
| 02/08/2023 | Date of grant for some of the restricted stock units (RSUs) with varying vesting schedules. |
| 03/28/2024 | Date of reference for ownership of common stock units held in the issuer's 401(k) retirement plan. |
| 04/01/2024 | Date of transaction for the acquisition of 22,498 restricted stock units. |
| 04/03/2024 | Date of filing the Form 4. |
| 04/15/2024 | Date on which 9,110 restricted stock units (RSUs) vest 100%. |
| 04/15/2025 | Date on which 13,777 restricted stock units (RSUs) vest 100%. |
| 04/15/2026 | Date on which 17,838 restricted stock units (RSUs) vest 100%. |
| 04/15/2027 | Date on which 22,498 restricted stock units (RSUs) vest 100%. |
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