Form 4: Infinera CFO Nancy Erba Reports Stock Transactions
SEC Form 4 Filing
Nancy Erba, CFO of Infinera Corp, reports the vesting and subsequent sale of shares to cover tax obligations.
Summary
- On October 5, 2024, Nancy Erba, the Chief Financial Officer of Infinera Corp, reported transactions involving common stock and Restricted Stock Units (RSUs).
- Ms. Erba exercised 9,792 Restricted Stock Units (RSUs) which converted into common stock.
- Simultaneously, 5,264 shares were withheld by Infinera to cover tax obligations related to the vesting of the RSUs at a price of $6.75 per share.
- Following these transactions, Ms. Erba directly owns 568,358 shares of common stock and 58,750 RSUs.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions by an executive, with no inherent positive or negative implications for the company's performance.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track executive compensation and ownership changes.
Stakeholder Impact
- The transactions have a minor impact on shareholders due to the small number of shares involved.
- The transactions are part of the executive compensation plan, impacting Ms. Erba's personal holdings.
Key Dates
| Date | Description |
|---|---|
| April 5, 2023 | Vesting commencement date for Restricted Stock Units |
| October 05, 2024 | Date of stock transactions (RSU exercise and tax withholding) |
| October 08, 2024 | Date of signature for the report |
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