Gullo Michelle L 4
Research Summary
AI-generated summary
Corning (GLW) CHRO Michelle Gullo Converts RSUs, Surrenders 363 Shares
What Happened
Michelle L. Gullo, Senior Vice President & Chief Human Resources Officer of Corning Inc. (GLW), had restricted stock units convert into common shares on February 9, 2026. The filing shows 994 shares were acquired via exercise/conversion of derivatives (918 + 76 shares at $0.00). To cover tax withholding, 363 shares were surrendered (32 shares for $4,204 and 331 shares for $43,490) at $131.39 per share, totaling $47,694. Net new shares to Gullo after withholding: 631 shares.
Key Details
- Transaction date: February 9, 2026; Form 4 filed February 11, 2026 (timely).
- Acquired: 994 shares via conversion/settlement of RSUs (codes M; $0.00 per share).
- Withheld/Disposed for taxes: 363 shares (code F) at $131.39 each; total value $47,694 (32 shares = $4,204; 331 shares = $43,490).
- Net increase: 631 shares (994 acquired − 363 withheld).
- Shares owned after transaction: not specified in the provided excerpt.
- Footnotes: RSUs represent contingent rights to one share each and include multiple vesting schedules (vesting dates referenced: Apr 15, 2026; Apr 15, 2027; Apr 14, 2028; and a Feb 8, 2023 grant with staggered vesting). Reporting person disclaims beneficial ownership of securities held by spouse.
- Tax withholding: the surrender of shares appears to be a cashless method to satisfy tax obligations (routine practice).
Context
This was a conversion/settlement of restricted stock units (derivative-to-share conversion) with shares withheld to cover taxes — a common, administrative insider transaction and not an open-market purchase or sale. Such tax-withholding dispositions are routine and do not necessarily signal a change in the insider's view of the company.