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Insider Trends: Infinera Insider Exercises Option/Derivative Security for Stock Sells part to Pay Tax, Trend of Selling Intact

05/07/2021 15:24

07:09 PM EDT, 05/07/2021 (MT Newswires) -- On May 05, 2021, David W Heard, Director and CEO, exercised options/derivative securities for 123,069 shares of Infinera (INFN) and sold 52,095 shares in the company for $446,975 to meet tax obligations. After accounting for tax obligations this transaction resulted in a net acquisition of 70,974 company shares. Heard, following the transactions delineated in the Form 4 SEC filing, owns 318,967 company shares, which have a market value of $2.77 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 31 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 208,508 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. Peer group activity averaged 120.0 transactions per company, and disposition of 14,586 shares on average.

SEC Story Link http://www.sec.gov/Archives/edgar/data/1138639/000113863921000083/xslF345X03/wf-form4_162042880389847.xml

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