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CORNING INC /NY Director's Dealing 2008

Jul 2, 2008

29942_dirs_2008-07-02_21a7c8ec-6ab5-43b6-8f2e-90da7a8b8c3b.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CORNING INC /NY (GLW)
CIK: 0000024741
Period of Report: 2008-06-30

Reporting Person: GUND GORDON (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2008-06-30 Common Stock A 38.0144 $23.324 Acquired 3061447.0734 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2008-06-30 Phantom Stock $0 A 1550.56 Acquired Common Stock (1550.56) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 100000 Indirect
Common Stock 250000 Indirect
Common Stock 250000 Indirect

Footnotes

F2: Phantom stock units convert to the cash value of the company's common stock on a one-for-one basis.

F1: Includes 38.0144 shares acquired on Company's June 30, 2008 dividend payment date under dividend reinvestment plan

F3: Includes 194.30 units acquired pursuant to dividend reinvestment feature of Non-Employee Directors' Deferred Compensation Plan for which no additional price was paid.

F4: 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.