WEEKS WENDELL P 4
4 · CORNING INC /NY · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
Corning (GLW) CEO Wendell P. Weeks Exercises PSUs; Shares Withheld for Taxes
What Happened
Wendell P. Weeks, Chairman, CEO and President of Corning Inc. (GLW), had 5,733 derivative units convert to common stock on Feb 9, 2026 (reported Feb 11, 2026). The conversion shows an exercise/conversion price of $0.00 (these were performance share units or similar equity awards, not option purchases). The company withheld 2,927 shares to cover tax withholding at $131.39 per share, totaling $384,579, leaving Weeks with a net increase of 2,806 shares (5,733 converted − 2,927 withheld).
Key Details
- Transaction date: 2026-02-09; filing date: 2026-02-11 (appears timely).
- Conversion: 5,733 shares @ $0.00 (code M — exercise/conversion of derivative).
- Tax withholding: 2,927 shares @ $131.39 = $384,579 (code F — payment of tax liability via share withholding).
- Net shares received: 2,806 (5,733 − 2,927).
- Shares owned after transaction: not specified in the provided excerpt.
- Relevant footnotes: F3–F7 indicate these were performance share units (PSUs) with various vesting/restriction schedules (some PSUs remain restricted until April 15, 2026/2027/2028 and per the grant schedule in F7). F1 disclaims spouse beneficial ownership; F2 notes some ownership shown via the company 401(k) fund.
- This filing shows a routine sell-to-cover (share withholding) for taxes, not an open-market sale.
Context
The $0.00 conversion price indicates these were earned equity awards (PSUs) converting to stock, not a cash exercise of options. Withholding shares to satisfy tax obligations (a “sell-to-cover” or share-withholding) is common and is a standard administrative step rather than an investment decision. Such routine tax-related dispositions should be interpreted differently than open-market sales initiated by an insider.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-02-09+5,733→ 753,512 total - Tax Payment
Common Stock
2026-02-09$131.39/sh−2,927$384,579→ 750,585 total - Exercise/Conversion
Performance Share Unit
[F3][F7]2026-02-09−5,733→ 0 total→ Common Stock (5,733 underlying)
- 9,200(indirect: By Spouse)
Common Stock
[F1] - 7,120.543(indirect: By Spouse)
Common Stock
[F2][F1] - 11,737.587(indirect: By Trust)
Common Stock
[F2] - 235,610
Performance Share Unit
[F3][F4]→ Common Stock (235,610 underlying) - 178,486
Performance Share Unit
[F3][F5]→ Common Stock (178,486 underlying) - 60,106
Performance Share Unit
[F3][F6]→ Common Stock (60,106 underlying)
Footnotes (7)
- [F1]The reporting person disclaims beneficial ownership of all securities held by spouse.
- [F2]Ownership is represented by units held in a unitized stock fund through the issuer's 401(k) retirement plan as of January 31, 2026.
- [F3]Each performance share unit represents a contingent right to receive one share of Corning Incorporated common stock.
- [F4]Earned PSUs remain restricted until April 15, 2026, when they vest and convert to common stock, subject to service-based vesting requirement.
- [F5]Earned PSUs remain restricted until April 15, 2027, when they vest and convert to common stock, subject to service-based vesting requirement.
- [F6]Earned PSUs remain restricted until April 14, 2028, when they vest and convert to common stock, subject to service-based vesting requirement.
- [F7]The performance share units (PSUs) earned February 7, 2024 will vest 1/3 after 1 year from the February 8, 2023 grant date and 1/6 every 6 months thereafter until fully vested on the third anniversary of the grant date.