4//SEC Filing
TEICHMANN DAVID 4
Accession 0001138639-24-000112
CIK 0001138639other
Filed
May 13, 8:00 PM ET
Accepted
May 14, 9:45 PM ET
Size
7.8 KB
Accession
0001138639-24-000112
Insider Transaction Report
Form 4
Infinera CorpINFN
TEICHMANN DAVID
Chief Legal Officer
Transactions
- Tax Payment
Common Stock
2024-05-12$5.06/sh−12,899$65,269→ 294,641 total - Award
Common Stock
2024-05-12+34,800→ 307,540 total
Footnotes (3)
- [F1]On March 9, 2021, Infinera Corporation (the "Company") granted Mr. Teichmann a performance share award covering 50,000 shares ("PSAs") that could be earned during fiscal 2021 through fiscal 2023, based on achievement of (a) performance goals applicable to the first 50% of the award (a "tranche") consisting of a non-GAAP operating income goal and a revenue goal, and (b) a performance goal for the second 50% tranche consisting of a non-GAAP operating income goal, in each case measured over a full fiscal year during the performance period (the "PSA Award"). Each PSA represents a contingent right to receive one share of common stock of the Company.
- [F2]On May 12, 2024, given fiscal 2023 non-GAAP operating income of $87.2 million and revenue of $1,614.1 million, the Compensation Committee of the Board of Directors of the Company certified that (i) 77.06% of the shares subject to the first tranche of the PSA Award became eligible to vest and (ii) 62.14% of the shares subject to the second tranche of the PSA Award became eligible to vest. As a result, 34,800 shares of common stock underlying the PSA Award vested on May 12, 2024. The balance of 15,200 shares subject to the PSA Award were forfeited.
- [F3]Represents shares that have been withheld by Company to satisfy tax withholding and remittance obligations in connection with the net settlement of vested PSAs granted to Mr. Teichmann on March 9, 2021.
Documents
Issuer
Infinera Corp
CIK 0001138639
Entity typeother
Related Parties
1- filerCIK 0001252121
Filing Metadata
- Form type
- 4
- Filed
- May 13, 8:00 PM ET
- Accepted
- May 14, 9:45 PM ET
- Size
- 7.8 KB