CORNING INC /NY — Director's Dealing 2007

Jan 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CORNING INC /NY (GLW)
CIK: 0000024741
Period of Report: 2006-12-29

Reporting Person: SMITHBURG WILLIAM D (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-12-29	Phantom Stock	$0	A	1702.3	Acquired		Common Stock (1702.3)	Direct

Footnotes

F1: Phantom stock units convert to the cash value of the company's common stock on a one-for-one basis.

F2: Distribution of phantom stock units in cash under the Non-Employee Directors' Deferred Compensation Plan is deferred until a specific date as elected by the participant or termination of service as a Director of Corning.