X0306 4 2014-11-15 0000926282 ADTRAN INC ADTN 0001300513 Foliano Michael 901 EXPLORER BLVD. HUNTSVILLE AL 35806 0 1 0 0 Sr. VP, Global Operations Phantom stock 2014-11-15 4 A 0 1107 0 A Common stock 1107 5984.151 D Incentive Stock Option (right to buy) 18.97 2014-11-15 4 A 0 5271 0 A 2016-11-15 2024-11-15 Common Stock 5271 5271 D Non-Qualified Stock Option (right to buy) 18.97 2014-11-15 4 A 0 17307 0 A 2016-11-15 2024-11-15 Common Stock 17307 17307 D Each share of phantom stock represents a right to receive one share of common stock or the cash value thereof. The phantom stock becomes payable 6 months after the reporting person's separation of service with the Company. The reporting person may transfer his phantom stock account into an alternative investment at any time. Upon vesting of performance shares awarded pursuant to a grant of November 4, 2011 under the ADTRAN, Inc. 2006 Employee Stock Incentive Plan, the reporting person deferred the receipt of shares of the Company's common stock and received instead shares of phantom stock pursuant to the Company's deferred compensation plan. The option vests in four equal and annual installments beginning on the first anniversary of the date of the grant as shown in column 6. Gayle S. Ellis, by power of attorney 2014-11-18