Form 4: Corning Inc. Executive McRae Lawrence D. Reports Stock Transactions
SEC Form 4 Filing
Retired Vice Chairman McRae Lawrence D. reports transactions involving Corning Inc. common stock and derivative securities, including vesting of restricted stock units and performance share units.
Summary
- On April 15, 2024, McRae Lawrence D., a retired Vice Chairman of Corning Inc., reported transactions involving the company's stock.
- These transactions included the vesting of 16,851 and 24,454 restricted stock units (RSUs) and performance share units (PSUs), respectively, which converted into common stock.
- A portion of the shares (20,117) were disposed of to cover tax obligations at a price of $31.29 per share.
- Following these transactions, McRae Lawrence D. directly owns 236,442 shares of Corning Inc. common stock and indirectly owns 1,045 shares held by spouse.
- He also holds performance share units representing a contingent right to receive 9,776 and 5,424 shares of common stock, and restricted stock units representing a contingent right to receive 20,412 shares of common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment about the company's performance.
Future Outlook
The document does not contain any specific forward-looking statements regarding the company's future performance.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, which is a common occurrence for publicly traded companies. It provides transparency into the trading activities of key personnel and their holdings in the company.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 04/15/2024 | Date of earliest transaction and vesting of RSUs and PSUs. |
| 04/15/2025 | Earned PSUs remain restricted until this date, when they vest and convert to common stock, subject to service-based vesting requirement. |
| 04/15/2026 | Earned PSUs remain restricted until this date, when they vest and convert to common stock, subject to service-based vesting requirement. The restricted stock units (RSUs) vest 100% on this date. |
| 04/17/2024 | Date of signature by Power of Attorney. |
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