Form 4: Infinera CEO David Heard Reports Stock Transactions
SEC Form 4 Filing
Infinera's CEO, David Heard, reports the acquisition and disposal of company stock and restricted stock units (RSUs) to cover tax obligations.
Summary
- On April 5, 2024, David Heard, the CEO of Infinera Corp, engaged in transactions involving the company's stock and restricted stock units (RSUs).
- He acquired 126,836 shares of common stock through the vesting of RSUs.
- Simultaneously, he disposed of 51,040 shares to satisfy tax withholding obligations related to the RSU vesting at a price of $5.8 per share.
- Following these transactions, Mr. Heard directly owns 917,000 shares of Infinera Corp.
- He also continues to hold 224,998 restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions by an executive. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, like the CEO, when they trade their company's stock. It provides transparency to the market regarding the actions of company leadership.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve the CEO's personal holdings and tax obligations.
- The transactions do not directly affect employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 04/05/2021 | Original vesting commencement date for 172,000 RSUs, vesting one-third on the one-year anniversary and 1/12th quarterly thereafter. |
| 04/05/2023 | Original vesting commencement date for 337,500 RSUs, vesting one-third on the one-year anniversary and 1/12th quarterly thereafter. |
| 04/05/2024 | Date of stock and RSU transactions: acquisition of 126,836 shares via RSU vesting and disposal of 51,040 shares for tax obligations. |
| 04/08/2024 | Date of signature for the Form 4 filing. |
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