WEEKS WENDELL P 4

What Happened
Wendell P. Weeks, Chairman, CEO & President (and Director) of Corning Incorporated, exercised options and sold shares on June 9, 2026. He exercised 100,000 options at a strike of $27.03 (cost $2,703,000) to acquire shares, and sold 100,000 shares in an open-market transaction at a weighted-average price of $186.46, generating proceeds of $18,646,070. The filing also shows a separate derivative conversion of 100,000 shares reported as disposed with $0 proceeds.

Key Details

• Transaction date: 2026-06-09 (reported same day)
• Exercise: 100,000 shares exercised @ $27.03 — total cost $2,703,000
• Sale: 100,000 shares sold @ weighted avg $186.46 — proceeds $18,646,070; sale prices ranged $183.83–$190.005 (see footnote F1)
• Additional derivative entry: 100,000 shares reported disposed @ $0.00 (often reflects share surrender for net exercise or tax withholding; filing does not explicitly state reason)
• Shares owned after transaction: not specified in the provided excerpt of the filing
• Notable footnotes: F1 (weighted-average sale price and price range), F2 (disclaims spouse beneficial ownership), F3 (certain ownership represented by 401(k) units as of 5/29/2026), F4 (options vested 100% after three years)
• Timeliness: Filing covers transactions on 6/9/2026 and was filed the same day (no late filing indicated)

Context
When an insider exercises options and sells shares the same day, it commonly reflects a cashless exercise or immediate disposition of newly acquired shares. The combination here (exercise at $27.03 and sale at ~$186.46) resulted in a substantial spread between strike and sale price; the separate $0.00 disposal entry likely represents shares surrendered in connection with the exercise (e.g., for withholding), but the form does not state the exact purpose. This is a disclosure of executed transactions, not an explanation of the insider’s motivation.