Zhang John Z 4
4 · CORNING INC /NY · Filed Apr 16, 2026
Research Summary
AI-generated summary of this filing
Corning Exec VP John Z. Zhang Exercises Awards, Shares Withheld
What Happened John Z. Zhang, Executive Vice President & Chief Commercial and Customer Development Officer at Corning (GLW), had performance/restricted share awards convert on April 15, 2026. A total of 61,571 award-based shares converted (42,687 + 18,884) at an exercise/conversion price of $0.00. To cover tax withholding, 31,433 shares were surrendered/withheld at $168.27 per share, generating proceeds of $5,289,231. The net shares delivered to Zhang were 30,138 (61,571 converted minus 31,433 withheld).
Key Details
- Transaction date: April 15, 2026; Form filed April 16, 2026 (timely).
- Conversions/exercises recorded as M-code items: 42,687 and 18,884 shares @ $0.00.
- Tax withholding recorded as F-code: 31,433 shares @ $168.27 → $5,289,231.
- Net shares retained by insider after withholding: 30,138.
- Footnotes indicate these were performance share units (PSUs) and restricted stock units (RSUs); some awards vested/converted on April 15, 2026 while other award tranches remain subject to future vesting dates per the filing (see footnotes).
- Filing does not list total post-transaction beneficial ownership in the provided excerpt.
Context This was not an open-market sale or purchase by the insider but the conversion/vesting of PSUs/RSUs and a net-share settlement to satisfy tax withholding (a common, routine administrative step). The recorded $5.29M reflects the value of shares withheld for taxes, not an independent sale indicating a change in investment view.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-04-15+42,687→ 42,687 total - Exercise/Conversion
Common Stock
2026-04-15+18,884→ 61,571 total - Tax Payment
Common Stock
2026-04-15$168.27/sh−31,433$5,289,231→ 30,138 total - Exercise/Conversion
Performance Share Unit
[F1][F8]2026-04-15−42,687→ 0 total→ Common Stock (42,687 underlying) - Exercise/Conversion
Restricted Stock Unit
[F4][F9]2026-04-15−18,884→ 0 total→ Common Stock (18,884 underlying)
- 35,839
Performance Share Unit
[F1][F2]→ Common Stock (35,839 underlying) - 16,891
Performance Share Unit
[F1][F3]→ Common Stock (16,891 underlying) - 22,498
Restricted Stock Unit
[F4][F5]→ Common Stock (22,498 underlying) - 24,374
Restricted Stock Unit
[F4][F6]→ Common Stock (24,374 underlying) - 9,692
Restricted Stock Unit
[F4][F7]→ Common Stock (9,692 underlying)
Footnotes (9)
- [F1]Each performance share unit represents a contingent right to receive one share of Corning Incorporated common stock.
- [F2]Earned PSUs remain restricted until April 15, 2027, when they vest and convert to common stock, subject to service-based vesting requirement.
- [F3]Earned PSUs remain restricted until April 14, 2028, when they vest and convert to common stock, subject to service-based vesting requirement.
- [F4]Each restricted stock unit represents a contingent right to receive one share of Corning Incorporated common stock.
- [F5]The restricted stock units (RSUs) vest 100% on April 15, 2027. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to the vesting date.
- [F6]The restricted stock units (RSUs) vest 100% on April 14, 2028. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to the vesting date.
- [F7]The restricted stock units (RSUs) vest 100% on April 16, 2029. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to the vesting date.
- [F8]Earned PSUs remain restricted until April 15, 2026, when they vest and convert to common stock, subject to service-based vesting requirement.
- [F9]The restricted stock units (RSUs) vest 100% on April 15, 2026. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to the vesting date.