GLW.NYSECorning INC /NY

Form 4: Corning Inc. Executive Eric Musser Reports Stock Transactions

Sentiment:

SEC Form 4

📋All filings for Corning INC /NY
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Eric Musser, President and COO of Corning Inc., reports the vesting and conversion of performance share units (PSUs) and restricted stock units (RSUs) into common stock.

Summary

  • Eric Musser, the President and COO of Corning Inc., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
  • On April 15, 2024, Musser converted 26,703 and 38,562 performance share units (PSUs) into common stock.
  • Additionally, 31,785 shares were disposed of at a price of $31.29.
  • Following these transactions, Musser directly owns 220,369 shares of Corning Inc. common stock.
  • The transactions also involved restricted stock units (RSUs) that vested on April 15, 2024.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Future Outlook

The document outlines future vesting dates for PSUs and RSUs, indicating continued equity-based compensation for the reporting person.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor executive compensation and potential alignment with shareholder interests.

Stakeholder Impact

  • The transactions may have a minor impact on shareholders by slightly increasing the number of outstanding shares.

Key Dates

DateDescription
February 7, 2024Performance share units (PSUs) were earned per Compensation Committee decision for fiscal year 2023.
February 8, 2023Restricted stock units (RSUs) were granted.
April 15, 2024Conversion of PSUs and vesting of RSUs into common stock occurred.
April 15, 2025Earned PSUs remain restricted until this date, when they vest and convert to common stock, subject to service-based vesting requirement; RSUs vest 100%.
April 15, 2026Earned PSUs remain restricted until this date, when they vest and convert to common stock, subject to service-based vesting requirement; RSUs vest 100%.
April 15, 2027RSUs vest 100%.

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