Corning (NYSE: GLW) CEO exercises PSUs, RSUs; 165,622 shares withheld
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Corning Inc. Chairman, CEO and President Wendell P. Weeks exercised derivative awards into common stock and had shares withheld for taxes. He converted 235,610 performance share units and 104,474 restricted stock units into an equal number of common shares. To cover tax obligations, 165,622 common shares were disposed of at $168.27 per share, a tax-withholding transaction rather than an open-market sale. Following these moves, he directly holds 908,353 common shares, along with additional indirect positions reported for his spouse and employee benefit plans.
Positive
- None.
Negative
- None.
Insider Trade Summary
340,084 shares exercised/converted
Mixed
13 txns
Insider
WEEKS WENDELL P
Role
Chairman, CEO and President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Share Unit | 235,610 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 104,474 | $0.00 | -- |
| Exercise | Common Stock | 235,610 | $0.00 | -- |
| Exercise | Common Stock | 104,474 | $0.00 | -- |
| Tax Withholding | Common Stock | 165,622 | $168.27 | $27.87M |
| 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 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance Share Unit — 0 shares (Direct);
Restricted Stock Unit — 0 shares (Direct);
Common Stock — 969,501 shares (Direct);
Common Stock — 9,200 shares (Indirect, Held by Spouse)
Footnotes (1)
- The reporting person disclaims beneficial ownership of all securities held by spouse. Ownership is represented by units held in a unitized stock fund through the issuer's 401(k) retirement plan as of March 31, 2026. 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. Earned PSUs remain restricted until April 14, 2028, when they vest and convert to common stock, subject to service-based vesting requirement. Each restricted stock unit represents a contingent right to receive one share of Corning Incorporated common stock. 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 16, 2029. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to the vesting date. Earned PSUs remain restricted until April 15, 2026, when they vest and convert to common stock, subject to service-based vesting requirement. 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.
Key Figures
PSUs exercised: 235,610 units
RSUs exercised: 104,474 units
Tax-withheld shares: 165,622 shares
+4 more
7 metrics
PSUs exercised
235,610 units
Performance share units converted to common stock on April 15, 2026
RSUs exercised
104,474 units
Restricted stock units converted to common stock on April 15, 2026
Tax-withheld shares
165,622 shares
Common stock withheld for taxes at $168.27 per share
Tax-withholding price
$168.27 per share
Price used for F-code tax-withholding disposition
Direct common shares after transactions
908,353 shares
Direct holdings of Corning common stock following Form 4 transactions
Remaining PSUs (largest grant)
178,486 underlying shares
Unvested performance share units, exercise price $0.0000
Remaining RSUs (largest grant)
111,863 underlying shares
Unvested restricted stock units, exercise price $0.0000
Key Terms
Performance Share Unit, Restricted Stock Unit, tax-withholding disposition, unitized stock fund, +1 more
5 terms
Restricted Stock Unit financial
"Each restricted stock unit represents a contingent right to receive one share"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
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.
unitized stock fund financial
"Ownership is represented by units held in a unitized stock fund"
401(k) retirement plan financial
"through the issuer's 401(k) retirement plan as of March 31, 2026"
FAQ
What did Corning (GLW) CEO Wendell Weeks do in this Form 4 filing?
Wendell Weeks exercised performance share units and restricted stock units into common stock and had shares withheld for taxes. These are compensation-related events, not open-market purchases or sales, and reflect routine equity award vesting and associated tax obligations.
How many Corning (GLW) derivative awards did the CEO convert to common stock?
He converted 235,610 performance share units and 104,474 restricted stock units into the same number of Corning common shares. Each unit represents a contingent right to receive one share of common stock, earned under prior equity incentive arrangements.
Does the Corning (GLW) CEO still have unvested performance and restricted stock units?
Yes. The filing lists remaining performance share units and restricted stock units covering several hundred thousand underlying shares. Footnotes state these awards vest between April 2026 and April 2029, subject to service-based vesting and certain employment-related conditions.
What do the vesting footnotes in the Corning (GLW) Form 4 indicate?
Footnotes explain that earned performance share units remain restricted until scheduled vesting dates in 2026, 2027, and 2028. Restricted stock units vest 100% in 2026, 2027, 2028, and 2029, with possible earlier vesting upon events like retirement or disability.