[Form 4] Corning Incorporated Insider Trading Activity
Rhea-AI Filing Summary
Wendell P. Weeks, Chairman and CEO of Corning Inc. (GLW), reported Form 4 transactions dated 08/08/2025 showing both equity conversions and a small sale.
The filing shows conversion/issuance of 5,733 shares at no cash price (reflecting performance share units converting to common stock), and a disposition of 2,927 shares at $65.77. Following the reported transactions, Mr. Weeks beneficially owned 815,028 shares directly. The Form 4 also reports material derivative holdings of performance share units: 120,655 and 100,840 PSUs, plus the 5,733 PSUs that converted on 08/08/2025.
The filing disclaims beneficial ownership of certain shares held by his spouse and notes unitized holdings in the issuer's 401(k) plan as of July 31, 2025. PSUs have specified vesting schedules, including conversions subject to service-based vesting with vesting dates referenced as April 15, 2026 and April 15, 2027, and a multi-step vesting schedule for PSUs earned February 7, 2024.
Positive
- Conversion of 5,733 PSUs to common stock at $0 on 08/08/2025, reflecting compensation vesting
- Substantial direct ownership of 815,028 shares retained after transactions, indicating continued alignment with shareholders
- Material PSU holdings disclosed: 120,655 and 100,840 performance share units remain outstanding
Negative
- Disposition of 2,927 shares on 08/08/2025 at $65.77, representing an open-market sale
- Some holdings are indirect (spouse and unitized 401(k) plan), which reduces clarity on direct personal ownership proportions
Insights
TL;DR: Routine compensation-related equity conversion and a small open-market sale; substantial long-term ownership remains.
The Form 4 dated 08/08/2025 records the conversion of 5,733 PSUs into common stock at a $0 price and a sale of 2,927 shares at $65.77. Post-transaction direct beneficial ownership is reported as 815,028 shares, with additional exposure via 120,655 and 100,840 performance share units. These entries are consistent with executive compensation vesting and occasional liquidity events; they do not indicate a material shift in insider alignment with shareholders.
TL;DR: Disclosure aligns with standard Section 16 reporting for vested awards and a small disposition; vesting schedules are clearly noted.
The filing discloses the nature and timing of PSUs and their conversion mechanics: PSUs represent contingent rights to one share each, certain earned PSUs remain restricted until April 15, 2026 or April 15, 2027, and PSUs earned February 7, 2024 follow a multi-step vesting schedule. The reporting person properly disclaims spousal ownership and identifies 401(k) unitized holdings. From a governance and compliance perspective, the Form 4 provides the required particulars without omission.