Form 4: Corning Inc. Executive Vice President and CFO Edward A. Schlesinger Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Edward A. Schlesinger, Executive Vice President and CFO of Corning Inc., reports transactions involving common stock and performance share units.
Summary
- On February 10, 2025, Edward A. Schlesinger, the Executive Vice President and CFO of Corning Inc., reported changes in his beneficial ownership of the company's securities.
- He disposed of 511 shares of common stock at a price of $53.05 per share.
- He also acquired 1,415 shares of common stock through the conversion of performance share units (PSUs).
- Following these transactions, Schlesinger directly owns 80,811 shares of Corning Inc. common stock.
- He also holds various performance share units that will vest and convert to common stock on April 15 of 2025, 2026 and 2027.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing changes in beneficial ownership. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Future Outlook
The reporting person holds performance share units that will vest and convert to common stock on April 15 of 2025, 2026 and 2027, subject to service-based vesting requirements.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the financial interests of company executives.
Comparison to Industry Standards
- Executive compensation packages often include performance-based equity awards like PSUs to align management's interests with those of shareholders.
- Vesting schedules for equity awards typically range from one to five years, with service-based requirements being a common feature.
- The specific terms of Corning's PSU program, such as performance metrics and vesting criteria, would need to be compared to those of peer companies to assess its competitiveness.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the executive's stake in the company.
- The transactions themselves are unlikely to have a significant impact on other stakeholders.
Key Dates
| Date | Description |
|---|---|
| 02/10/2025 | Date of the reported transactions (disposal of common stock and acquisition via PSU conversion). |
| 02/12/2025 | Date of signature by Power of Attorney. |
| April 15, 2025 | Date when earned PSUs vest and convert to common stock, subject to service-based vesting requirement. |
| April 15, 2026 | Date when earned PSUs vest and convert to common stock, subject to service-based vesting requirement. |
| April 15, 2027 | Date when earned PSUs vest and convert to common stock, subject to service-based vesting requirement. |
Keywords
Form 4, Beneficial Ownership, Corning Inc, GLW, Edward A. Schlesinger, Executive Vice President, CFO, Common Stock, Performance Share Units, PSU, Vesting
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