Corning (NYSE: GLW) SVP uses 2,946 shares to cover restricted stock taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Corning Inc. senior vice president and general counsel Michaune D. Tillman reported a routine tax-related share disposition. On the vesting of restricted stock, 2,946 shares of common stock were withheld to cover tax withholding obligations, leaving 13,434 shares of common stock held directly after the transaction.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
TILLMAN MICHAUNE D
Role
SVP and General Counsel
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 2,946 | $159.96 | $471K |
Holdings After Transaction:
Common Stock — 13,434 shares (Direct, null)
Footnotes (1)
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Key Figures
Shares withheld for taxes: 2,946 shares
Price per share for withholding: $159.96/share
Shares held after transaction: 13,434 shares
3 metrics
Shares withheld for taxes
2,946 shares
Tax withholding on vesting of restricted stock
Price per share for withholding
$159.96/share
Value used for tax-withholding disposition
Shares held after transaction
13,434 shares
Direct common stock holdings following tax withholding
Key Terms
tax withholding obligations, restricted stock, tax-withholding disposition, Common Stock
4 terms
tax withholding obligations financial
"Shares withheld to satisfy the Reporting Person's tax withholding obligations upon the vesting of restricted stock"
restricted stock financial
"upon the vesting of restricted stock"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
tax-withholding disposition financial
"transaction_action: tax-withholding disposition"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Common Stock financial
"security_title: Common Stock"
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.
FAQ
What insider transaction did Corning (GLW) report for Michaune D. Tillman?
Corning reported that SVP and general counsel Michaune D. Tillman had 2,946 shares of common stock withheld. The shares were used to satisfy tax withholding obligations that arose when restricted stock vested, rather than being sold on the open market.
Was the Corning (GLW) Form 4 transaction an open-market sale?
No, the Form 4 shows a tax-withholding disposition, not an open-market sale. Shares were withheld by the company to cover tax obligations upon vesting of restricted stock, consistent with the transaction code F and the accompanying footnote description.
What does transaction code F mean in the Corning (GLW) Form 4?
Transaction code F indicates payment of an exercise price or tax liability using securities. Here, it denotes shares withheld by Corning to cover Michaune D. Tillman’s tax withholding obligations when restricted stock vested, rather than a discretionary purchase or sale.