GLW executive equity report details stock, RSU and PSU awards
Rhea-AI Filing Summary
Corning Incorporated (GLW) executive Senior Vice President & CHRO reports her equity holdings with the company. She directly owns 36,000 shares of common stock and her spouse holds 44 shares indirectly, for which she disclaims beneficial ownership.
The filing also details several equity awards. These include restricted stock units (RSUs) granted on February 8, 2023 that vest over three years, with one-third after one year and additional portions every six months until the third anniversary. Additional RSUs covering 4,378, 3,953, and 3,793 shares vest 100% on April 15, 2027, April 14, 2028, and April 15, 2026, respectively. Performance share units (PSUs) for 4,766 and 4,183 shares can convert into common stock, with earned PSUs scheduled to vest and convert on April 15, 2026 and April 15, 2027, subject to service-based vesting conditions.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Performance Share Unit | -- | -- | -- |
| holding | Performance Share Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock - Held by Spouse | -- | -- | -- |
Footnotes (1)
- The reporting person disclaims beneficial ownership of all securities held by spouse. The restricted stock units (RSUs) granted on February 8, 2023 vest 1/3 after 1 year from the grant date and 1/6 every 6 months thereafter until fully vested on the third anniversary of the grant date. Each restricted stock unit represents a contingent right to receive one share of Corning Incorporated common stock. Earned PSUs remain restricted until April 15, 2026, when they vest and convert to common stock, subject to service-based vesting requirement. Each performance share unit represents a contingent right to receive one share of Corning Incorporated common stock. Earned PSUs remain restricted until April 15, 2027, when they vest and convert to common stock, subject to service-based vesting requirement. 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. 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. 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.
FAQ
What did Corning (GLW) disclose in this insider ownership filing?
The company reported that its Senior Vice President & CHRO beneficially owns 36,000 shares of Corning common stock directly, plus multiple RSU and PSU awards that may convert into additional shares over time.
What indirect holdings were reported for the Corning (GLW) executive?
The filing notes that the executive's spouse holds 44 shares of Corning common stock indirectly. The executive disclaims beneficial ownership of these securities.
What restricted stock units (RSUs) were disclosed for Corning (GLW)?
The filing lists several RSU awards, including units granted on February 8, 2023 that vest over three years, and additional grants of 4,378, 3,953, and 3,793 shares that each vest 100% on April 15, 2027, April 14, 2028, and April 15, 2026, respectively.
Do special events affect vesting of the Corning (GLW) RSUs?
Yes. For several RSU awards, events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to the scheduled vesting dates.