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Insider Trends: Insider at Infinera Acquires Stock Via Option/Derivative Security, Sells Portion to Pay Tax, Selling Trend Continues

05/07/2021 15:21

07:06 PM EDT, 05/07/2021 (MT Newswires) -- On May 05, 2021, Thomas J Fallon, Director, exercised options/derivative securities for 64,485 shares of Infinera (INFN) and sold 31,972 shares in the company for $274,320 to meet tax obligations. After accounting for tax obligations this transaction resulted in a net acquisition of 32,513 company shares. Fallon, following the transactions delineated in the Form 4 SEC filing, has indirect ownership of 1,702,626 shares of the company, which has a market value of $14.8 million as of the prior-day closing price.

During the most recent 90-day period, previous to the date of this filing, there have been 27 insider transactions reported to the SEC for Infinera. These transactions came from the activities of 8 separate insiders that resulted in a net disposition of 254,089 company shares. In 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 level of transactions is below that of the peer group average in the 79-company Communications & Networking peer group over the last 90-day period. Activity in the peer group averaged 120.0 transactions per company, and disposition of 14,594 shares on average.

SEC Story Link http://www.sec.gov/Archives/edgar/data/1138639/000113863921000081/xslF345X03/wf-form4_162042861945010.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.