Form 4: Infinera Corp Executive Michael Fernicola Reports Stock Transactions
SEC Form 4 Filing
Michael Fernicola, Chief Accounting Officer of Infinera Corp, reports the vesting and subsequent sale of shares to cover tax obligations.
Summary
- On March 5, 2024, Michael Fernicola, the Chief Accounting Officer of Infinera Corp, reported transactions involving common stock and restricted stock units (RSUs).
- Mr. Fernicola vested 5,833 shares of common stock through the vesting of RSUs.
- Simultaneously, 3,266 shares were withheld by Infinera to satisfy tax obligations related to the RSU vesting at a price of $5.15 per share.
- Following these transactions, Mr. Fernicola directly owns 124,334 shares of common stock and 23,334 RSUs.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and stock transactions, with no indication of positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices involving stock-based compensation.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve a small number of shares related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 03/05/2022 | Vesting commencement date for the reported Restricted Stock Units |
| 03/05/2024 | Date of stock transactions: RSU vesting and tax withholding. |
| 03/06/2024 | Date of report signature. |
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