0001127602-20-019905.txt : 20200617
0001127602-20-019905.hdr.sgml : 20200617
20200617161529
ACCESSION NUMBER: 0001127602-20-019905
CONFORMED SUBMISSION TYPE: 4/A
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20200515
FILED AS OF DATE: 20200617
DATE AS OF CHANGE: 20200617
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Morse David L
CENTRAL INDEX KEY: 0001547488
FILING VALUES:
FORM TYPE: 4/A
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-03247
FILM NUMBER: 20969890
MAIL ADDRESS:
STREET 1: ONE RIVERFRONT PLAZA
CITY: CORNING
STATE: NY
ZIP: 14831
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: CORNING INC /NY
CENTRAL INDEX KEY: 0000024741
STANDARD INDUSTRIAL CLASSIFICATION: DRAWING AND INSULATING NONFERROUS WIRE [3357]
IRS NUMBER: 160393470
STATE OF INCORPORATION: NY
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: ONE RIVERFRONT PLAZA
CITY: CORNING
STATE: NY
ZIP: 14831
BUSINESS PHONE: 6079749000
MAIL ADDRESS:
STREET 1: ONE RIVERFRONT PLAZA
CITY: CORNING
STATE: NY
ZIP: 14831
FORMER COMPANY:
FORMER CONFORMED NAME: CORNING GLASS WORKS
DATE OF NAME CHANGE: 19890512
4/A
1
form4a.xml
PRIMARY DOCUMENT
X0306
4/A
2020-05-15
2020-05-19
0000024741
CORNING INC /NY
GLW
0001547488
Morse David L
ONE RIVERFRONT PLAZA
CORNING
NY
14831
1
Exec. VP & Chief Tech. Officer
Restricted Stock Unit
2020-05-15
4
A
0
3185
0
A
Common Stock
3185
3185
D
Stock Options (Right to Buy)
19.65
2020-05-15
4
A
0
15925
0
A
2030-05-15
Common Stock
15925
15925
D
Restricted Stock Unit
2020-05-15
4
A
0
15
0
A
Common Stock
15
15
I
Held by Spouse
Stock Options (Right to Buy)
19.65
2020-05-15
4
A
0
75
0
A
2030-05-15
Common Stock
75
75
I
Held by Spouse
Restricted Stock Unit
2020-05-15
4
A
0
52
0
A
Common Stock
52
52
I
Held by Spouse
Restricted Stock Unit
Common Stock
19777
19777
D
Restricted Stock Unit
Common Stock
16749
16749
D
Restricted Stock Unit
Common Stock
37677
37677
D
Each restricted stock unit represents a contingent right to receive one share of Corning Incorporated Common Stock.
As part of a series of actions to preserve cash, the reporting person is receiving equity in lieu of 30% of his/her base salary for the period of June 1, 2020 through December 31, 2020. The equity is comprised of restricted stock units (50%) and stock options (50%).
The restricted stock units will vest ratably over three years from grant date. Vested shares will be delivered to the reporting person within sixty (60) days after vesting. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to the vesting dates.
As part of a series of actions to preserve cash, the reporting person is receiving equity in lieu of 30% of his/her base salary for the period of June 1, 2020 through December 31, 2020. The equity is comprised of restricted stock units (50%) and stock options (50%). The number of options granted was determined by dividing the cash compensation by the Black-Scholes value of a single option calculated as of the date of grant.
The options will vest ratably over three years from grant date.
As part of a series of actions to preserve cash, the spouse of the reporting person is receiving equity in lieu of 5% of her base salary for the period of June 1, 2020 through December 31, 2020. The equity is comprised of restricted stock units (50%) and stock options (50%).
The restricted stock units will vest ratably over three years from grant date. Vested shares will be delivered to the spouse of the reporting person within sixty (60) days after vesting. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to the vesting dates.
The Reporting Person disclaims beneficial ownership of all securities held by spouse.
As part of a series of actions to preserve cash, the spouse of the reporting person is receiving equity in lieu of 5% of her base salary for the period of June 1, 2020 through December 31, 2020. The equity is comprised of restricted stock units (50%) and stock options (50%). The number of options granted was determined by dividing the cash compensation by the Black-Scholes value of a single option calculated as of the date of grant.
As part of a series of actions to preserve cash, the spouse of the reporting person is receiving restricted stock units in lieu of the 2020 management cash performance bonus plan (Performance Incentive Plan, or PIP).
The Restricted Stock Units vest 100% on April 15, 2021. Vested shares will be delivered to the reporting person within thirty (30) days after April 15, 2021. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to April 15, 2021.
The Restricted Stock Units vest 100% on April 15, 2022. Vested shares will be delivered to the reporting person within thirty (30) days after April 15, 2022. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to April 15, 2022.
The Restricted Stock Units vest 100% on April 14, 2023. Vested shares will be delivered to the reporting person within thirty (30) days after April 14, 2023. Events such as retirement, death, disability, and others specified in the agreement may result in vesting prior to April 14, 2023.
This amendment to the Statement of Changes in Beneficial Ownership of Securities on Form 4 filed with the Securities and Exchange Commission on May 19, 2020, is being filed to correct the original Form 4 filing by including the grants of Restricted Stock Units (67) and Stock Options (75) to the Reporting Person's Spouse, which were inadvertently omitted from the original Form 4 filing.
Linda E. Jolly, Power of Attorney
2020-06-17