0001127602-20-017146.txt : 20200519 0001127602-20-017146.hdr.sgml : 20200519 20200519160914 ACCESSION NUMBER: 0001127602-20-017146 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20200515 FILED AS OF DATE: 20200519 DATE AS OF CHANGE: 20200519 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Kinlin Clark S CENTRAL INDEX KEY: 0001606372 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-03247 FILM NUMBER: 20893681 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 1 form4.xml PRIMARY DOCUMENT X0306 4 2020-05-15 0000024741 CORNING INC /NY GLW 0001606372 Kinlin Clark S ONE RIVERFRONT PLAZA CORNING NY 14831 1 Executive Vice President Restricted Stock Unit 2020-05-15 4 A 0 3140 0 A Common Stock 3140 3140 D Stock Options (Right to Buy) 19.65 2020-05-15 4 A 0 15700 0 A 2030-05-15 Common Stock 15700 15700 D Restricted Stock Unit 2020-05-15 4 A 0 29004 0 A Common Stock 29004 29004 D Restricted Stock Unit Common Stock 16451 16451 D Restricted Stock Unit Common Stock 36892 36892 D Restricted Stock Unit Common Stock 18722 18722 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 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, 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. 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. Linda E. Jolly, Power of Attorney 2020-05-19