Fang Li 4

What Happened
Fang Li, Senior Vice President, Corning International & NBD, Solar, exercised stock options and sold the resulting 9,797 shares on 2026-02-04. The filing shows three option exercises (3,141 shares @ $20.89; 3,515 shares @ $18.67; 3,141 shares @ $20.89) and an open-market sale of 9,797 shares at a weighted average price of $113.51, for aggregate gross proceeds of $1,112,077. The Form 4 also lists corresponding derivative disposition lines at $0, which reflect the option-to-share conversion reporting.

Key Details

• Transaction date: 2026-02-04; filed with the SEC on 2026-02-05 (timely).
• Options exercised: 3,141 @ $20.89; 3,515 @ $18.67; 3,141 @ $20.89 (total 9,797 shares acquired via exercise).
• Sale: 9,797 shares sold in the open market at a weighted average price of $113.51; total proceeds reported $1,112,077. Footnote F1: sale prices ranged from $113.36 to $113.59; the weighted avg $113.51 is reported.
• Shares owned after transaction: not specified in this filing.
• Codes: M = exercise/conversion of derivative; S = open-market sale. No 10b5-1 or gift/tax-withholding note listed in the filing.

Context
This looks like an exercise of options followed by an immediate sale of the acquired shares (a cashless or same-day sale), which realizes the spread between the exercise prices ($18.67–$20.89) and the market sale price (~$113.51). For retail investors, exercises followed by sales are common for executives to capture gains or cover taxes/fees; such sales are routine and do not necessarily signal a change in the insider’s long-term view.