ADTRAN Holdings, Inc. — Director's Dealing 2021

Jan 5, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADTRAN INC (ADTN)
CIK: 0000926282
Period of Report: 2020-12-31

Reporting Person: Jacqueline Hourigan Rice (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-31	Common Stock	J	9156	—	Disposed	0	Direct
2020-12-31	Common Stock	J	9156	—	Acquired	28807	Indirect
2020-12-31	Common Stock	M	318.161	—	Acquired	29125.161	Indirect
2020-12-31	Common Stock	D	0.161	$14.77	Disposed	29125	Indirect
2020-12-31	Common Stock	A	6094	—	Acquired	6094	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-12-31	Dividend Equivalent Rights	$	M	318.161	Disposed		Common Stock (318.161)	Direct

Footnotes

F1: Upon vesting 9,156 shares previously reported as direct beneficial ownership are now held in a trust and therefore are now reported as an indirect beneficial ownership.

F2: Settlement of dividend equivalent rights in connection with lapse of restriction on restricted stock. The rights accrued when and as dividends were paid on the Company's common stock and are paid in whole shares of common stock with the remainder paid in cash. Each dividend equivalent right is the economic equivalent of one share of the Company's common stock.

F3: Represents restricted stock award grant that vests in full on the first anniversary of the date of grant.