CORNING INC /NY
For the period ended May 1, 2025. Filed Mar 21, 2025.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
May 1, 2025 · Filed Mar 21, 2025
Contents
Proxy Statement Summary
This summary highlights information contained elsewhere in this proxy statement. This summary does not contain all information that you should consider, and you should read the entire proxy statement carefully before voting. As used in this proxy statement, “Corning,” the “Company,” “us” and “we” may refer to Corning Incorporated itself, one or more of its subsidiaries, or Corning Incorporated and its consolidated subsidiaries.
Proposals That Require Your Vote
| Proposal | Board Vote Recommendation | More Information |
|---|---|---|
| 1 Election of 9 directors | For Each Nominee | page 35 |
| 2 Advisory approval of our executive compensation (Say on Pay) | For | page 53 |
| 3 Ratification of appointment of independent registered public accounting firm | For | page 94 |
Annual Meeting of Shareholders
Date and Time: May 1, 2025, 12 noon Eastern Time
Admission: See the instructions contained in “Frequently Asked Questions about the Meeting and Voting” on page 98. On March 21, 2025, we posted this proxy statement and our Annual Report on Form 10-K for the year ended December 31, 2024 on our website at corning.com/2025-proxy and began mailing them to shareholders who requested paper copies.
| 6 | CORNING 2025 PROXY STATEMENT |
Business Information – Who We Are
Corning is vital to progress – in the industries we help advance and in the world we share. For more than 170 years, Corning has combined its unparalleled expertise in glass science, ceramic science and optical physics with deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people’s lives.
Our materials science and manufacturing expertise, boundless curiosity and commitment to purposeful invention place us at the center of the way the world works, learns and lives. In addition, our sustained investment in research, development and engineering capabilities means we are always ready to solve the toughest challenges alongside our customers. Our innovation approach delivers long-term value for Corning and its shareholders. We are best-in-the-world in three core technologies, four manufacturing and engineering platforms, and five market-access platforms. Corning directs 80 percent or more of our resources to opportunities that draw from at least two of these capabilities sets. We believe this approach increases our likelihood of success, reduces the cost of innovation, creates higher barriers to entry for our competitors, and ultimately delights our customers.
The core of what we do is invent, make, and sell. We create value by inventing category-defining products, developing scalable manufacturing platforms, and building strong, trust-based relationships with customers who are leaders in their industries.
—Wendell P. Weeks, Chairman and Chief Executive Officer
Our 2024 reportable segments are as follows:
| Reportable Segments* | 2024 Core Net Sales % | Segment Description |
|---|---|---|
| Optical Communications | manufactures carrier and enterprise network components and solutions for the telecommunications industry | |
| Display Technologies | manufactures high quality glass substrates for flat panel displays including liquid crystal displays and organic light-emitting diodes | |
| Specialty Materials | manufactures glass, glass ceramics and other advanced optic materials to meet a wide range of advanced needs in diverse industries | |
| Environmental Technologies | manufactures ceramic substrates and filters for emissions control systems in mobile applications | |
| Life Sciences | develops, manufactures and supplies labware, equipment, media, serum and reagents to enable workflow solutions for drug discovery and bioproduction |
- All other businesses that do not meet the quantitative threshold for separate reporting have been grouped as “Hemlock and Emerging Growth Businesses.” Net sales for this group are mainly attributable to Hemlock Semiconductor Group (HSG), an operating segment producing solar and semiconductor products. The Emerging Growth Businesses consists primarily of our pharmaceutical technologies business, automotive glass solutions business and the emerging innovations group. Hemlock and Emerging Growth Businesses represented 8% of our 2024 core net sales.
| CORNING 2025 PROXY STATEMENT | 7 |
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Our 2024 Results
| 2024 GAAP Results | $13,118 million Net Sales | $0.58 (diluted Earnings Per Share) |
|---|---|---|
| 2024 Core Results* | $14,469 million Core Net Sales | $1.96 (diluted Earnings Per Share) |
| 2024 Cash Flow Results | $1,939 million Cash Flows from Operating Activities | $1,253 million Adjusted Free Cash Flow* |
*Refer to Appendix A for more information.
CORE PERFORMANCE MEASURES
In managing the Company and assessing our financial performance, we adjust certain measures included in our consolidated financial statements to arrive at measures that are not calculated in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and exclude specific items that are non-recurring, related to foreign exchange volatility, or unrelated to continuing operations. These measures are our Core Performance Measures. Our management uses Core Performance Measures, along with GAAP financial measures, to make financial and operational decisions. These measures also form the basis of our compensation program metrics.We believe that sharing our Core Performance Measures with investors provides greater visibility into how we make business decisions.
Items that are excluded from certain Core Performance calculations include: the impact of translating Japanese yen-denominated debt, the impact of translated earnings contracts, acquisition-related costs, certain discrete tax items and other tax-related adjustments, restructuring, impairment and other charges and credits, certain litigation, regulatory and other legal matters, pension mark-to-market adjustments and other items which do not reflect on going operating results of the Company.More information on these items can be found in Appendix A.
In addition, because a significant portion of our revenues and expenses are denominated in currencies other than the U.S. dollar, management believes it is important to understand the impact on sales and net income of translating these currencies into U.S. dollars. Therefore, Corning utilizes constant-currency reporting for our Display Technologies, Environmental Technologies, Specialty Materials, Life Sciences, and Optical Communications segments for the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and the euro, as applicable to the segment.We believe that the use of constant-currency reporting allows investors to understand our results without the volatility of currency fluctuations.
These non-GAAP measures are not an alternative to, or a replacement for, financial results determined in accordance with GAAP.Please see Appendix A to this proxy statement for a reconciliation of the non-GAAP measures we use in this proxy statement to the most directly comparable GAAP financial measures.
| 8 | CORNING 2025 PROXY STATEMENT |
2024 Performance Highlights: Successfully Executing Our Springboard Plan
In 2024, we introduced our Springboard plan, which we expect will continue to add significant annualized sales growth while leveraging existing capacity and technical capabilities to generate incremental profit and cash flow. We believe Springboard provides an exceptional opportunity for our shareholders.
As part of the introduction of Springboard in 2024, we outlined the following Springboard priorities:
| • | Capture Sales. We aim to add more than $3 billion in annualized sales by the end of 2026. |
|---|---|
| • | Improve Profitability Profile. We expect to utilize production capacity and technical capabilities already in place to achieve a substantial increase in incremental profit and cash flow, with a goal of achieving an operating margin of 20% by the end of 2026. |
| • | Extend Leadership in Our Markets. We expect to draw upon our innovative product approach and our deep customer relationships to bring “more Corning” content to existing product portfolios as well as drive Corning leadership in significant new secular trends that require our products and capabilities, resulting in the continued growth in the markets we serve. |
| • | Return Capital to Shareholders. We expect to maintain our capital allocation priorities. We prioritize investing in organic growth opportunities, maintaining a strong and efficient balance sheet, and returning capital to our shareholders with dividends and opportunistic share repurchases. |
During 2024, we marked significant milestones along our Springboard journey primarily in our Optical Communications and Display Technologies segments. We’ve also continued to position ourselves to capture additional opportunities from a convergence of cyclical and secular trends driving growth across our businesses through 2026 and beyond.
2024 HIGHLIGHTS
| • | Maintaining stable U.S. dollar net income in Display Technologies.We successfully implemented double-digit price increases in the second half of 2024 to help ensure we can maintain stable U.S. dollar net income in a weaker yen environment. We expect to deliver net income of $900 million to $950 million in 2025 and to deliver net income margin of 25%, consistent with the last five years. This provides a strong profitability base for Springboard growth. | |
|---|---|---|
| • | Driving strong revenue growth in Optical Communications as cyclical and secular trends converge to drive demand for our unique products and capabilities. | |
| • | We introduced a new set of Gen AI products for inside the data center in mid-2024, and rapid adoption of those products drove sales in the Enterprise portion of our Optical Communications segment to a record $2 billion for the year, up 49% year over year. | |
| • | As part of an agreement with Lumen Technologies, which reserves 10 percent of our global fiber capacity for 2025 and 2026, we launched the first outside-plant deployment of Corning’s new Gen AI fiber-and-cable system that enables Lumen to fit anywhere from two-to-four times the amount of fiber into their existing conduit. | |
| • | We announced a multi-year supply agreement, valued at more than $1 billion, with AT&T to provide next-generation fiber, cable, and connectivity solutions to support the expansion of AT&T’s fiber network and help bring high-speed internet to more Americans. |
Since its introduction in 2024, we have provided, and expect to continue to provide, our stakeholders with key updates on our Springboard milestones and priorities as we continue on our Springboard journey. Visit our Investor Relations page on Corning’s website at corning.com for more information.
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Returning capital to our shareholders is a key focus. Over the past five years, including 2024, Corning has returned $6.6 billion to common shareholders through share repurchases and dividends. We have grown our dividend 27.3 percent since 2020.
ANNUAL DIVIDENDS PER COMMON SHARE
Our Total Shareholder Return (TSR), which consists of stock price appreciation and reinvestment of common dividends, has also significantly outperformed each of the S&P 500, S&P 500 Equal Weight Index (S&P Equal Weight), and our Compensation Peer Group over the last 1- and 3-year periods and outperformed the S&P Equal Weight and our Compensation Peer group over the last 5-year period.
Corning is well-positioned to drive durable and profitable long-term growth through strategic investment decisions and a strong balance sheet.
| 10 | CORNING 2025 PROXY STATEMENT |
2024 Executive Compensation Program
In 2024 approximately 91% of our CEO’s target total compensation and 84% of the other Named Executive Officers’ (NEOs) target total compensation (in both cases excluding employee benefits and perquisites), was variable and dependent on Corning’s financial performance or stock price.
2024 Compensation Components
| CEO | ALL OTHER NEOs |
|---|
RSUs – Restricted Stock Units
PSUs – Performance Stock Units
CPUs – Cash Performance Units
| CORNING 2025 PROXY STATEMENT | 11 |
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2024 Pay Components
| Pay Component | Form and Payout Method | Purpose | Award Value |
| Base Salary | Cash - fixed | • Attract and retain talent • Provide financial certainty | • Value of role to the Company • Value of role in competitive marketplace • Skills and performance • Internal equity |
| Short-Term Incentives (STI) | |||
| • GoalSharing Plan | Cash - variable | • Focus all employees on delivering annual local plant and business unit scorecard objectives | • Generally targeted at 5% of base salary with payouts based on annual corporate and local unit performance |
| • Performance Incentive Plan (PIP) | Cash - variable | • Provide additional incentive to executives to deliver specific annual corporate and business financial plans | • Annual target awards are set individually based on the competitive marketplace and scope of responsibility • 2024 PIP payouts for NEOs are based on corporate and division financial performance |
| Long-Term Incentives (LTI) • Cash Performance Units (CPUs) • Performance Stock Units (PSUs) • Restricted Stock Units (RSUs) | 70% is performance based (consisting of 25% CPUs and 45% PSUs) while 30% is in time-based RSUs | • Focus executives on long-term results • Align the long-term interests of executives and shareholders • Ensure equity ownership for executive team • Reward achievement of long-term objectives over the three-year measurement period • Retain talent | • Target awards are based on competitive marketplace, level of executive, impact and potential • Actual units earned relative to target are based on corporate performance against pre-set goals • Value of PSUs and RSUs is tied directly to the price of our common stock |
| All Other: • Benefits • Perquisites • Severance Protection | Ongoing or Event-Driven | • Support the health, safety and security of our executives, and their ability to plan for retirement • Enhance executive productivity • Retain talent | • Competitive marketplace • Level of executive • Corning Values |
| Our Metrics and Why We Use Them | |
|---|---|
| Core Earnings per Share (Core EPS): Core EPS is our key measure of profitability.* Core Net Sales: Growing core net sales — both organically through innovation and through acquisitions — remains critical to our short- and long-term success. | Adjusted Free Cash Flow: Strong cash generation enables us to invest in future growth, sustain leadership in our markets, and remain financially strong during periods of uncertainty. It also requires us to carefully manage our capital investments. Return on Invested Capital (ROIC):** We focus on ROIC because it reflects our ability to generate returns from the capital we have deployed in our operations. The Cash Performance Units (CPUs) payout and Performance Stock Units (PSUs) earned are increased or decreased up to 10% based on Corning’s ROIC improvement over the three-year performance period. |
| *Corning budgets for share repurchases when establishing annual financial performance targets. | **ROIC as used here and elsewhere in our compensation discussion refers to ROIC for compensation purposes, which is a different metric from core ROIC. Please see the bottom of page 68 and Appendix A for more information. |
Core net sales is a primary indicator of Corning’s short- and long-term success. Evaluating performance against a predetermined net sales metric provides insight into how well the Company has retained sales and met sales growth targets, accounting for both organic growth efforts and the impact of acquisitions. We use core net sales as a performance measure in our annual bonus plans (GoalSharing and PIP) because GoalSharing impacts every employee and PIP impacts over 8,000 employees. In this way, every employee has alignment with Corning’s sales growth goals. The LTI plan, which impacts approximately 320 executives who are key to driving the short- and long-term financial growth of the Company, also includes a core net sales performance measure. Incorporating net sales into both the STI and LTI plans allows for a comprehensive evaluation of Corning’s ability to establish sustainable sales growth. It is a “duplicate goal” for only a small fraction, about 320, of our approximately 56,300 employees, and the Compensation and Talent Management Committee believes the increased focus on core net sales growth is appropriate for that smaller group of executives given the importance of sales growth for Corning over time.
| 12 | CORNING 2025 PROXY STATEMENT |
2024 Compensation Plan Payout Percentages
The following table reflects our 2024 compensation plans’ payout percentages based on our 2024 financial performance:
| SHORT TERM INCENTIVE PLAN · LONG TERM INCENTIVE PLAN | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| ANNUAL CASH BONUS – GOALSHARING · CASH PERFORMANCE UNITS AND PERFORMANCE STOCK UNITS (70% OF LTI TARGET — 2024 PERFORMANCE RESULTS) | |||||||||
| Components · Weighting · % of target earned · Components · Weighting · % of target earned | |||||||||
| Corporate financial performance | 25% | 200% | Adjusted Free Cash Flow | 70% | 200% | ||||
| Average of all unit plans (>100 units) | 75% | 148.5% | Core Net Sales | 30% | 200% | ||||
| 2024 payout (% of target) | 161.4%1 | 2024 blended performance result | 200% | ||||||
| 1 Equal to 8.07% of base salary (based on a 5% target) for each NEO, except for Mr. Nelson and Mr. Zhang whose payouts are 7.21% and 8.26% respectively. Their unit scores are 125.6% and 153.5% (weighted at 75%) representing the average of the local unit plans for which each is responsible. | |||||||||
| ANNUAL CASH BONUS – PIP · LTI PLAN PAYOUT FOR 3-YEAR PERIOD ENDING DECEMBER 31, 2024 | |||||||||
| Components · Weighting · % of target earned · Components · % of target earned | |||||||||
| Corporate financial performance | 50% | 200% | 2022 performance result | 49% | |||||
| Business financial performance2 | 50% | 150% | 2023 performance result | 56% | |||||
| 2024 payout (% of target)2 | 175% | 2024 performance result | 200% | ||||||
| 2 Mr. Nelson’s business financial performance score is 117% based on the financial performance of the divisions for which he is responsible, resulting in a payout of 159% of target. Mr. Zhang’s business financial performance score is 181% based on the financial performance of the divisions for which he is responsible, resulting in a payout of 191% of target. | 2022-2024 average performance | 102% | |||||||
| ROIC MODIFIER | -2.5% | ||||||||
| 2022-2024 average performance · × · ROIC Modifier · = · Final % pay-out of 2022 target CPUs and PSUs | |||||||||
| 102% × 0.975% · = · 99.45% Final Payout (% of target) | |||||||||
In addition to the performance metric-driven compensation described above, 30% of each executive’s target Long-Term Incentive award is delivered in the form of time-based Restricted Stock Units (“RSUs”) that will vest after three years. These RSUs are not tied to specific performance measures; however their value is based on changes in the Company’s stock price. The impact of our stock price on the value of these RSUs along with the three-year vesting period, help to further align the interests of our executives with those of our shareholders and provide an ongoing retention benefit for executives, in particular with respect to those executives who are not yet retirement-eligible.
| CORNING 2025 PROXY STATEMENT | 13 |
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Our Director Nominees
All director nominees are independent except Mr. Weeks.
| Name and Primary Occupation | Age | Director since | Committee Memberships* | Other Public Company Boards |
|---|---|---|---|---|
| Leslie A. Brun Chairman and Chief Executive Officer, Sarr Group, LLC | 72 | 2018 | • Audit • Compensation • Executive | 0 |
| Stephanie A. Burns Retired Chairman and Chief Executive Officer, Dow Corning Corporation | 70 | 2012 | • Compensation • Executive • Governance (Chair) | 2 |
| Pamela J. Craig Retired Chief Financial Officer, Accenture plc. | 68 | 2021 | • Audit (Chair) • Information Technology | 2 |
| Robert F. Cummings, Jr. Retired Vice Chairman of Investment Banking, JPMorgan Chase & Co. | 75 | 2006 | • Executive • Finance (Chair) • Governance | 0 |
| Roger W. Ferguson, Jr. Steven A. Tananbaum Distinguished Fellow for International Economics, Council on Foreign Relations | 73 | 2021 | • Compensation (Chair) • Governance | 2 |
| Thomas D. French Senior Partner Emeritus, McKinsey & Company, Inc. | 65 | 2023 | • Audit • Finance | 0 |
| Daniel P. Huttenlocher Dean, MIT Stephen A. Schwarzman College of Computing | 66 | 2015 | • Finance • Information Technology | 1 |
| Kevin J. Martin Vice President, Public Policy, Meta Platforms, Inc. | 58 | 2013 | • Compensation • Governance | 0 |
| Wendell P. Weeks Chairman and Chief Executive Officer, Corning Incorporated | 65 | 2000 | • Executive (Chair) | 1 |
*Audit = Audit Committee; Compensation = Compensation and Talent Management Committee; Executive = Executive Committee; Finance = Finance Committee; Governance = Nominating and Corporate Governance Committee; Information Technology = Information Technology Committee
| 14 | CORNING 2025 PROXY STATEMENT |
Board of Directors Snapshot
Our directors’ experience, competencies and skills are key to our success.
Please see the Director Nominees section starting on page 39 for additional information on the director nominees.
| Leslie A. Brun | Stephanie A. Burns | Pamela J. Craig | Robert F. Cummings, Jr. | Roger W. Ferguson, Jr. |
| Thomas D. French | Daniel P. Huttenlocher | Kevin J. Martin | Wendell P. Weeks |
| BOARD INDEPENDENCE | BOARD REFRESHMENT |
| Only our Chairman & CEO is not independent | 3 New Directors in the Past 5 Years |
| CORE COMPETENCIES | ||||
|---|---|---|---|---|
| Public Company Governance Experience 8 Directors | Finance and Accounting 6 Directors | Enterprise and Emerging Risk Oversight 9 Directors | Government and Regulatory 5 Directors | Management of a Complex Organization 4 Directors |
STRATEGIC SKILLS
| Expertise in Our Industries and End Markets 6 Directors | Technology, R&D, and Innovation 4 Directors | Operations 3 Directors | Commercial Strategy 4 Directors |
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| Enterprise and Digital Transformation 3 Directors | Corporate Development 6 Directors | Global Perspective 7 Directors |
See the section entitled Board of Directors’ Qualifications and Experience beginning on page 35 for a description of each skill and competency and matrix of the nominees’ individual strategic skills, core competencies and attributes.
| CORNING 2025 PROXY STATEMENT | 15 |
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Governance Highlights
Corning is committed to maintaining strong corporate governance as a critical component of driving sustained shareholder value. Our Board continually monitors emerging best practices in governance to best serve the interests of the Company’s stakeholders.
| The following is a brief overview of some of our most notable corporate governance practices and policies: • We contacted holders of approximately 52% of our common stock during the 2024-2025 outreach season to discuss our executive compensation programs and corporate governance practices and engaged with holders of approximately 38% of our common stock on these matters; • We ensure alignment of our corporate governance practices with the Investor Stewardship Group’s corporate governance Principles for U.S. Listed Companies; • Our Board, through its committees, provides direct oversight of cybersecurity, artificial intelligence and sustainability risks and issues (see page 31); • We adopted the principles embodied in the Shareholder-Director Exchange (SDX) Protocol; and • We adopted proxy access whereby qualifying shareholders are permitted to include director nominees in the proxy statement. | |
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| The Corporate Governance section beginning on page 19 describes our governance framework, which includes the following: | |
| ✓ Annual election of all directors ✓ Majority vote standard for the election of directors in uncontested elections ✓ Active shareholder engagement, including by directors, to directly gather investor perspectives ✓ Active, engaged and experienced Lead Independent Director ✓ Independent board committees, with all committees (except the Executive Committee) consisting entirely of independent directors ✓ Regular executive sessions of independent directors | ✓ Market-competitive director compensation program designed to support and reinforce our governance principles ✓ Robust stock ownership guidelines for directors and key executive officers ✓ Prohibition on pledging, hedging or trading in derivatives of the Company’s stock for directors and employees ✓ Clawback policy in accordance with NYSE Listing Standards for executive incentive compensation in the event of certain financial restatements |
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Impact of our Values in Action
Corning is guided by its core Values, which define our relationship with our stakeholders. These Values – Quality, Integrity, Performance, Leadership, Innovation, Independence and The Individual – are the foundation of who we are. Our Values guide our actions and decisions, as they have for most of our more than 170-year history. We are always working to leave the world better than we found it. That’s why we lead with our Values, whether in the products we make, the way we make them, or how we treat people and our communities. We believe that our innovations have transformed industries, enhanced people’s lives and addressed some of society’s biggest challenges. In accordance with our Values, we also believe improved, sustainable business practices increase shareholder value, drive performance, strengthen our Company, increase our connection with our shareholders, and help us better serve our customers and the communities in which our employees live and we operate.We embrace these opportunities to deliver value to our shareholders, our employees, our customers, and the wider world.
At Corning, we think about our sustainability contributions in two categories:Our handprint – what we enable others to do through our products and services, andour footprint – how our actions directly affect others. Our people and products make a positive difference in the world, and continuous innovation, done our way, is made sustainable through a deeply engrained moral compass and the trust of our stakeholders.
| HANDPRINT | • Ceramic substrates and particulate filters for vehicle emissions. Fifty years ago, Corning rose to the call of the U.S. Clean Air Act, inventing the world’s first ceramic substrates that set the standard for catalytic converters worldwide. From 1975 through today, car emissions dropped by an astounding 99%. Corning also pioneered particulate filters that help prevent soot from diesel engines and ultrafine particles from gasoline engines from entering the air we breathe. • Making artificial intelligence more sustainable. With the rise of artificial intelligence comes an unprecedented demand for energy from data centers and hyperscaler facilities. Corning is helping them operate more sustainably while meeting the bandwidth demands of artificial intelligence with the EDGE Distribution System, a pre-engineered data center solution that shortens installation time for server cabling by up to 70% and helps to minimize materials and packaging. • Helping to enable more efficient connections. Corning secured an agreement with Lumen Technologies to supply next-generation fiber-dense optical cable to facilitate Lumen’s build of a new network to interconnect AI-enabled data centers. Corning’s new gen-AI fiber and cable system will enable Lumen to fit two-to-four times the amount of fiber into their existing conduit. • Innovating with recycled content. Our Corning® Gorilla® Armor, Corning® Gorilla® Glass Victus® 2, and Corning Display glass products contain cullet, certified by Underwriters Laboratories as a form of pre-consumer recycled content. |
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| FOOTPRINT | • Streamlining shipments to reduce Scope 3 emissions. Over the course of 2024, we worked to reduce our Scope 3 emissions by shifting distribution of some materials from air to lower-emissions transportation options. Businesses within our Optical Communications Segment optimized 16 routes, swapping some air shipments to ocean shipments. This reduced emissions by an estimated 1,500 tons. By streamlining crossborder trailer utilization, Optical Communications also reduced the need for 1,200 trucks and avoided 100 tons of emissions. • Recognized for responsible waste management. Our Display Technologies plants in Tainan and Taichung, Taiwan, have been awarded platinum-level zero-waste-to-landfill designation by Underwriters Laboratories, the highest designation in this category awarded to manufacturing facilities that consistently achieve a landfill waste diversion rate of 100%. Optical Communications facilities like those in Pune, India; Pontchâteau, France; and Mszczonów, Poland, have zerowaste practices, and are preparing for certification. • Taking a mindful approach to water management. In 2024 we achieved our goal of generating comprehensive water use data for all our major facilities. We also reduced water withdrawals by 483,632 million m3, a 2.4% reduction compared to 2023, based on water conservation efforts. • Continuing to be a reliable partner. Corning was named an ENERGY STAR Partner of the Year for the 11th year in a row by the U.S. Environmental Protection Agency. |
We also maintain a dedicated website and disclosure hub, that serves as an online repository for our sustainability-related disclosures, guidelines, policies and webpage links. More detail regarding Corning’s approach to environmental, social, governance and human capital matters, and its Values, can be explored at our Sustainability website, which can be found atcorning.com/sustainability. Our sustainability reporting, website, or other materials accessible thereby are not incorporated by reference into this proxy statement.
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Connections in Our Communities
Throughout its history, Corning has routinely made contributions to civic, educational, charitable, cultural and other institutions that improve the quality of life and increase the resources of the communities in which we operate, making Corning more attractive to employees.
In 2023, we combined our various philanthropic entities into a new consolidated function and center of excellence called Community Impact & Investment. This centralizes our U.S. philanthropic contributions under a single organization,
allowing us to maximize our impact in the areas that align most closely with our values and the needs of the communities where we operate. For more information about Corning’s Community Impact & Investment outreach, please see
corning.com/worldwide/en/community-impact-and-investment.
Corning’s giving also includes annual contributions to both local and international cultural and educational institutions. Among them, we are proud to support The Corning Museum of Glass (CMOG) – the world’s leading glass museum. Beyond just a key cultural and community hub, CMOG also provides Corning with a unique innovation crucible where our glass scientists and experts collaborate with glass artists and designers to creatively explore the novel properties of glass and innovate new uses in an environment uninhibited by traditional commercial boundaries. Wendell P. Weeks (chairman and CEO) and Edward A. Schlesinger (executive vice president and CFO) serve on the CMOG board of trustees. In 2024, Corning provided cash and non-cash contributions of services to CMOG of approximately $40.8 million.
Corning provides financial support to the Alternative School for Math and Science (ASMS), a private middle school located in Corning, New York, with an advanced curriculum focused on science and math. Currently, children of Corning employees represent approximately 48% of its enrollment. In 2024, Corning’s non-cash contributions totaled approximately $1.7 million and cash contributions totaled $346,000. Kim Frock Weeks (spouse of Wendell P. Weeks, our chairman and CEO) serves on the ASMS board of trustees and as the executive head of school but receives no salary or benefits in this role.
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.