Form 4: Corning Inc. Executive Avery H. Nelson III Reports Stock Transactions
SEC Form 4
Avery H. Nelson III, a Senior Vice President & General Manager at Corning Inc., reported the vesting and conversion of restricted stock units and performance share units into common stock on April 15, 2024.
Summary
- On April 15, 2024, Avery H. Nelson III, a Senior Vice President & General Manager at Corning Inc., engaged in transactions involving Corning's common stock.
- These transactions included the vesting of 9,110 restricted stock units (RSUs) and 13,067 performance share units (PSUs), which converted into common stock.
- Nelson also disposed of 9,194 shares of common stock at a price of $31.29.
- Following these transactions, Nelson directly owns 58,633 shares of Corning common stock and indirectly owns 3,700.6665 shares through a trustee u/Employee Benefit Plan.
- Nelson also holds various unvested restricted stock units and performance share units that will vest on future dates.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive stock transactions. It doesn't inherently indicate positive or negative sentiment, but rather provides factual information about insider trading activity.
Future Outlook
The reporting person holds unvested restricted stock units and performance share units that will vest on various dates in the future, subject to continued service.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, which are common for executives at publicly traded companies like Corning Inc. It provides transparency into the trading activities of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives, as mandated by the SEC.
- Similar filings are made by executives at comparable companies in the technology and manufacturing sectors, such as Apple, Samsung, and 3M, whenever they trade their company's stock.
- The vesting schedules and terms of the restricted stock units and performance share units are typical compensation components for executives in publicly traded companies.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership by a company executive.
- The vesting of RSUs and PSUs is part of the executive's compensation package, impacting their personal financial situation.
Key Dates
| Date | Description |
|---|---|
| 03/28/2024 | Date of unitized stock fund holdings in the issuer's 401(k) retirement plan. |
| 04/15/2024 | Date of the reported transactions: vesting of RSUs and PSUs, and disposal of shares. |
| 04/17/2024 | Date of signature by Linda E. Jolly, Power of Attorney. |
| 02/08/2023 | Date of grant for some of the restricted stock units (RSUs). |
| 04/15/2025 | Vesting date for some earned PSUs and RSUs. |
| 04/15/2026 | Vesting date for some earned PSUs and RSUs. |
| 04/15/2027 | Vesting date for some RSUs. |
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