Insider Trends: Infinera Insider Converts Option/Derivative Security to Acquire Stock, Makes Tax Sale, Selling Trend Intact
07:04 PM EDT, 05/07/2021 (MT Newswires) -- On May 05, 2021, Dr David F Welch, Director, exercised options/derivative securities for 93,776 shares of Infinera (INFN) and sold 32,681 shares in the company for $280,403 to meet tax obligations. After accounting for tax obligations this transaction resulted in a net acquisition of 61,095 company shares. Subsequent to the Form 4 filing with the SEC, Dr Welch has indirect ownership of 670,907 shares of company stock, with a market value, based on the prior-day closing price, of $5.82 million.
During the most recent 90-day period, previous to the date of this filing, there have been 25 insider transactions reported to the SEC for Infinera. These transactions came from the activities of 8 individual insiders that resulted in a net disposition of 315,184 company shares. Relative to the preceding 90-day window of time, there were 21 transactions from 7 insiders and resulted in the net disposition of 569,963 shares.
This is less than the average level of insider transactions in the 79-company Communications & Networking peer group over the last 90-day period. Within the peer group activity averaged 120.0 transactions per company, and disposition of 14,604 shares on average.
SEC Story Link http://www.sec.gov/Archives/edgar/data/1138639/000113863921000080/xslF345X03/wf-form4_162042851539529.xml
This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.