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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

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