0001138639-24-000108.txt : 20240514
0001138639-24-000108.hdr.sgml : 20240514
20240514214436
ACCESSION NUMBER: 0001138639-24-000108
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240512
FILED AS OF DATE: 20240514
DATE AS OF CHANGE: 20240514
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: HEARD DAVID W
CENTRAL INDEX KEY: 0001245146
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-33486
FILM NUMBER: 24946826
MAIL ADDRESS:
STREET 1: C/O INFINERA CORPORATION
STREET 2: 140 CASPIAN COURT
CITY: SUNNYVALE
STATE: CA
ZIP: 94089
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Infinera Corp
CENTRAL INDEX KEY: 0001138639
STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661]
ORGANIZATION NAME: 04 Manufacturing
IRS NUMBER: 770560433
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1230
BUSINESS ADDRESS:
STREET 1: 6373 SAN IGNACIO AVENUE
CITY: SAN JOSE
STATE: CA
ZIP: 95119
BUSINESS PHONE: 408-572-5200
MAIL ADDRESS:
STREET 1: 6373 SAN IGNACIO AVENUE
CITY: SAN JOSE
STATE: CA
ZIP: 95119
FORMER COMPANY:
FORMER CONFORMED NAME: INFINERA Corp
DATE OF NAME CHANGE: 20161219
FORMER COMPANY:
FORMER CONFORMED NAME: INFINERA CORP
DATE OF NAME CHANGE: 20030528
FORMER COMPANY:
FORMER CONFORMED NAME: ZEPTON NETWORKS INC
DATE OF NAME CHANGE: 20010418
4
1
wk-form4_1715737463.xml
FORM 4
X0508
4
2024-05-12
0
0001138639
Infinera Corp
INFN
0001245146
HEARD DAVID W
C/O INFINERA CORPORATION
6373 SAN IGNACIO AVENUE
SAN JOSE
CA
95119
1
1
0
0
Chief Executive Officer
0
Common Stock
2024-05-12
4
A
0
179567
0
A
1096567
D
Common Stock
2024-05-12
4
F
0
81930
5.06
D
1014637
D
On March 9, 2021, Infinera Corporation (the "Company") granted Mr. Heard performance share award covering 258,000 shares ("PSAs") that could be earned during fiscal 2021 through fiscal 2023, based on achievement of (a) performance goals applicable to the first 50% of the award (a "tranche") consisting of a non-GAAP operating income goal and a revenue goal, and (b) a performance goal for the second 50% tranche consisting of a non-GAAP operating income goal, in each case measured over a full fiscal year during the performance period (the "PSA Award"). Each PSA represents a contingent right to receive one share of common stock of the Company.
On May 12, 2024, given fiscal 2023 non-GAAP operating income of $87.2 million and revenue of $1,614.1 million, the Compensation Committee of the Board of Directors of the Company certified that (i) 77.06% of the shares subject to the first tranche of the PSA Award became eligible to vest and (ii) 62.14% of the shares subject to the second tranche of the PSA Award became eligible to vest. As a result, 179,567 shares of common stock underlying the PSA Award vested on May 12, 2024. The balance of 78,433 shares subject to the PSA Award were forfeited.
Represents shares that have been withheld by Company to satisfy tax withholding and remittance obligations in connection with the net settlement of vested PSAs granted to Mr. Heard on March 9, 2021.
/s/ Nicholas Janof, by Power of Attorney
2024-05-14