Anthony Scarfo - Mar 15, 2022 Form 4 Insider Report for Ribbon Communications Inc. (RBBN)

Role
EVP & GM, Cloud & Edge BU
Signature
Patrick Macken, Attorney-in-Fact
Stock symbol
RBBN
Transactions as of
Mar 15, 2022
Transactions value $
-$68,960
Form type
4
Date filed
3/17/2022, 05:11 PM
Previous filing
Dec 21, 2021
Next filing
Apr 20, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RBBN Common Stock Options Exercise +13.9K +8.92% 170K Mar 15, 2022 Direct F1
transaction RBBN Common Stock Award +22.3K +13.12% 193K Mar 15, 2022 Direct F5
transaction RBBN Common Stock Options Exercise +21.8K +11.34% 214K Mar 15, 2022 Direct F6
transaction RBBN Common Stock Tax liability -$47.8K -17K -7.93% $2.81 197K Mar 15, 2022 Direct F2
transaction RBBN Common Stock Options Exercise +27K +13.68% 224K Mar 16, 2022 Direct F1
transaction RBBN Common Stock Tax liability -$21.2K -7.09K -3.16% $2.99 217K Mar 16, 2022 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction RBBN Restricted Stock Units (RSU) Options Exercise $0 -13.9K -33.34% $0.00 27.9K Mar 15, 2022 Common Stock 13.9K Direct F1, F4
transaction RBBN Performance-based Restricted Stock Unit (PSU) Options Exercise $0 -21.8K -100% $0.00* 0 Mar 15, 2022 Common Stock 21.8K Direct F6
transaction RBBN Restricted Stock Unit (RSU) Options Exercise $0 -27K -33.33% $0.00 54K Mar 16, 2022 Common Stock 27K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 RSUs convert into common stock on a one-for-one basis.
F2 Reflects shares of Common Stock withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of the RSUs and/or PSUs.
F3 The RSUs vested as to one-third on March 16, 2021, and the remaining two-thirds of the RSUs vest in four equal semi-annual installments thereafter through March 16, 2023.
F4 The RSUs vested as to one-third on March 15, 2022 and the remaining two-thirds will vest in four equal semi-annual installments thereafter through March 15, 2024.
F5 PSUs that convert to Common Stock on a one-for-one basis based on the achievement of financial metrics in each of the 2019, 2020 and 2021 fiscal years establised by the Issuer's Compensation Committee of it's Board of Directors (Compensation Committee) at the time of grant. The PSUs then vested on March 15, 2022. Any unearned shares were forefeited
F6 PSUs that convert to Common Stock on a one-for-one basis based on the achievement of the Issuer's total sharholder return (TSR) for the 3-year period ended December 31, 2021 compared to TSR goals established by the Compensation Committee at the time of grant based on the TSR of a group of peer companies identified by the Compensation Committee. The PSUs then vested on March 15, 2022. Any unearned shares were forefeited.