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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

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.