Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Welch David F
   2. Issuer Name and Ticker or Trading Symbol
INFINERA CORP [INFN] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President
(Last)
(First)
(Middle)
C/O INFINERA CORPORATION, 140 CASPIAN COURT		 3. Date of Earliest Transaction (Month/Day/Year)
12/31/2014
(Street)

SUNNYVALE, CA 94089		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/31/2014   M   71,250 A $ 0 303,967 I See Footnote (1)
Common Stock 12/31/2014   F   37,179 D $ 14.72 266,788 I See Footnote (1)
Common Stock               280,000 I See Footnote (2)
Common Stock               319,493 I See Footnote (3)
Common Stock               553,750 I See Footnote (4)
Common Stock               2,500 I See Footnote (5)
Common Stock               14,132 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy) $ 2               (6) 08/08/2016 Common Stock 50,000   50,000 D  
Employee Stock Option (Right to Buy) $ 2               (6) 08/08/2016 Common Stock 137,500   137,500 D  
Employee Stock Option (Right to Buy) $ 8.19               (6) 11/23/2016 Common Stock 75,000   75,000 D  
Employee Stock Option (Right to Buy) $ 7.61               (6) 06/06/2017 Common Stock 29,214   29,214 D  
Employee Stock Option (Right to Buy) $ 7.61               (6) 06/06/2017 Common Stock 101,342   101,342 D  
Employee Stock Option (Right to Buy) $ 7.61               (6) 02/28/2018 Common Stock 2,817   2,817 D  
Employee Stock Option (Right to Buy) $ 7.61               (6) 02/28/2018 Common Stock 81,683   81,683 D  
Employee Stock Option (Right to Buy) $ 7.11               (6) 02/10/2019 Common Stock 100,000   100,000 D  
Employee Stock Option (Right to Buy) $ 7.45               (6) 08/10/2019 Common Stock 150,000   150,000 D  
Employee Stock Option (Right to Buy) $ 8.58               (6) 02/10/2021 Common Stock 20,250   20,250 D  
Employee Stock Option (Right to Buy) $ 8.58               (6) 02/10/2021 Common Stock 60,750   60,750 D  
Employee Stock Option (Right to Buy) $ 8.58               (6) 02/10/2021 Common Stock 39,465   39,465 D  
Employee Stock Option (Right to Buy) $ 8.58               (6) 02/10/2021 Common Stock 41,535   41,535 D  
Restricted Stock Units (7)               (8)   (8) Common Stock 26,333   26,333 D  
Restricted Stock Units (7) 12/31/2014   M     71,250   (9)   (9) Common Stock 71,250 $ 0 0 D  
Restricted Stock Units (7)               (10)   (10) Common Stock 40,000   40,000 D  
Restricted Stock Units (7)               (11)   (11) Common Stock 36,000   36,000 D  
Restricted Stock Units (7)               (12)   (12) Common Stock 62,770   62,770 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Welch David F
C/O INFINERA CORPORATION
140 CASPIAN COURT
SUNNYVALE, CA 94089		   X     President  

Signatures

 /s/ Michael Post, by Power of Attorney   01/02/2015
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These shares are held directly by The Welch Family Trust u/a dtd 04/03/1996.
(2) These shares are held directly by The Welch Group, L.P., for which Dr. Welch is the general partner.
(3) These shares are held directly by LRFA, LLC, for which Dr. Welch is the sole managing member.
(4) These shares are held directly by SEI Private Trust Company, Trustee of The Welch Family Heritage Trust I u/I dated 9/24/01.
(5) These shares are held directly by Dr. Welch as a trustee for his children. Dr. Welch disclaims beneficial ownership of the shares held in trust for his children, and this report shall not be deemed an admission that Dr. Welch is the beneficial owner of the shares held in trust for his children for purposes of Section 16 or for any other purpose.
(6) This option is fully-vested.
(7) Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of Infinera Corporation.
(8) These RSUs vest in three annual installments beginning on February 5, 2013.
(9) These RSUs fully vested on December 31, 2014.
(10) These RSUs vest in three annual installments beginning on February 5, 2014.
(11) These RSUs vest in four annual installments beginning on August 5, 2014.
(12) These RSUs vest in three annual installments beginning on May 5, 2015.

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