Corning (NYSE: GLW) SVP gains shares from awards, 8.4K withheld for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Corning SVP and GM of Optical Communications Michael Paul O'Day exercised equity awards and increased his direct common stock holdings. On April 15, 2026, he converted 14,092 performance share units and 6,244 restricted stock units into the same number of Corning common shares at a stated price of $0.00 per share.
To cover tax obligations, 8,410 common shares were withheld at $168.27 per share, a non‑market, tax-withholding disposition rather than an open-market sale. After these transactions, he directly holds 42,618 common shares. He also continues to hold multiple performance share unit and restricted stock unit awards that vest between April 2026 and April 2029, each representing a contingent right to receive one share of common stock upon service-based vesting.
Positive
- None.
Negative
- None.
Insider Trade Summary
20,336 shares exercised/converted
Mixed
10 txns
Insider
O'Day Michael Paul
Role
SVP and GM, Optical Comm.
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Share Unit | 14,092 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 6,244 | $0.00 | -- |
| Exercise | Common Stock | 14,092 | $0.00 | -- |
| Exercise | Common Stock | 6,244 | $0.00 | -- |
| Tax Withholding | Common Stock | 8,410 | $168.27 | $1.42M |
| holding | Performance Share Unit | -- | -- | -- |
| holding | Performance Share Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
Holdings After Transaction:
Performance Share Unit — 0 shares (Direct);
Restricted Stock Unit — 0 shares (Direct);
Common Stock — 44,784 shares (Direct)
Footnotes (1)
- 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
Performance share units converted: 14,092 units
Restricted stock units converted: 6,244 units
Total shares from award conversions: 20,336 shares
+5 more
8 metrics
Performance share units converted
14,092 units
Converted into 14,092 common shares on April 15, 2026
Restricted stock units converted
6,244 units
Converted into 6,244 common shares on April 15, 2026
Total shares from award conversions
20,336 shares
Sum of PSUs and RSUs converted to common stock
Shares withheld for taxes
8,410 shares
Tax-withholding disposition at $168.27 per share
Tax withholding price
$168.27 per share
Price used for 8,410-share F-code tax disposition
Common shares held after transactions
42,618 shares
Direct Corning common stock holdings post-transaction
Remaining PSU award (example)
10,620 underlying shares
Performance share units with 10,620 underlying common shares, direct
Remaining RSU award (example)
14,704 underlying shares
Restricted stock units with 14,704 underlying common shares, direct
Key Terms
Performance Share Unit, Restricted Stock Unit, tax-withholding disposition, service-based vesting requirement, +2 more
6 terms
Restricted Stock Unit financial
"Each restricted stock unit represents a contingent right to receive one share of Corning Incorporated common stock."
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.
service-based vesting requirement financial
"when they vest and convert to common stock, subject to service-based vesting requirement."
contingent right financial
"represents a contingent right to receive one share of Corning Incorporated common stock."
restricted until financial
"Earned PSUs remain restricted until April 15, 2027, when they vest and convert to common stock."
FAQ
What did Corning (GLW) executive Michael O'Day do in this Form 4 filing?
Michael O'Day exercised performance share units and restricted stock units into 20,336 Corning common shares. A portion of the resulting shares was then withheld to satisfy tax obligations, leaving him with 42,618 directly held common shares plus additional unvested awards.
What unvested equity awards does Michael O'Day still have at Corning (GLW)?
O'Day continues to hold several performance share unit and restricted stock unit grants tied to Corning common stock. Footnotes state these awards vest on dates between April 2026 and April 2029, subject to service-based vesting and certain events like retirement or disability.
When will Michael O'Day’s remaining Corning (GLW) PSUs and RSUs vest?
Footnotes note performance share units vest and convert to common stock on April 15, 2026, April 15, 2027, and April 14, 2028. Restricted stock units vest 100% on April 15, 2026, April 15, 2027, April 14, 2028, and April 16, 2029, subject to specified conditions.