Corning (GLW) SVP O'Day has 3,496 shares withheld for tax on vesting
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Corning Inc. senior vice president Michael Paul O'Day, SVP and GM of Optical Communications, reported a routine share disposition related to taxes. On the vesting of restricted stock, 3,496 shares of common stock were withheld to cover his tax withholding obligations. After this tax-withholding event, O'Day directly holds 39,122 shares of Corning common stock, showing he retains a meaningful equity stake. The transaction was not an open-market sale but an automatic share withholding to satisfy taxes.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
O'Day Michael Paul
Role
SVP and GM, Optical Comm.
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 3,496 | $153.05 | $535K |
Holdings After Transaction:
Common Stock — 39,122 shares (Direct, null)
Footnotes (1)
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Key Figures
Shares withheld for taxes: 3,496 shares
Transaction price per share: $153.05 per share
Shares owned after transaction: 39,122 shares
3 metrics
Shares withheld for taxes
3,496 shares
Tax-withholding disposition on restricted stock vesting
Transaction price per share
$153.05 per share
Recorded value for withheld shares
Shares owned after transaction
39,122 shares
Direct Corning common stock holdings post-transaction
Key Terms
restricted stock, tax withholding obligations, Form 4
3 terms
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 obligations financial
"to satisfy the Reporting Person's tax withholding obligations"
Form 4 regulatory
"INSIDER FILING DATA (Form 4)"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
FAQ
What insider transaction did Corning (GLW) report for Michael Paul O'Day?
Corning reported that Michael Paul O'Day had 3,496 common shares withheld to satisfy tax obligations upon restricted stock vesting. This was recorded as a Form 4 tax-withholding disposition, not an open-market share sale.
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 Corning to cover Michael Paul O'Day’s tax obligations when his restricted stock vested.
What role does Michael Paul O'Day hold at Corning (GLW) in this Form 4 filing?
Michael Paul O'Day is identified as an officer of Corning, serving as Senior Vice President and General Manager of Optical Communications. His status is explicitly noted in the Form 4 insider data.