Patrick Macken - Jun 15, 2022 Form 4 Insider Report for Ribbon Communications Inc. (RBBN)

Role
EVP, Chief Legal Officer
Signature
Patrick Macken
Stock symbol
RBBN
Transactions as of
Jun 15, 2022
Transactions value $
$0
Form type
4
Date filed
6/17/2022, 05:43 PM
Previous filing
Apr 20, 2022
Next filing
Jun 21, 2022

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 Performance-Based Restricted Stock Unit (PSU) Award $0 +77.2K $0.00 77.2K Jun 15, 2022 Common Stock 77.2K Direct F1
transaction RBBN PSU Award $0 +51.4K $0.00 51.4K Jun 15, 2022 Common Stock 51.4K Direct F2
transaction RBBN PSU Award $0 +96.5K $0.00 96.5K Jun 15, 2022 Common Stock 96.5K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each PSU represents a contingent right to receive one share of the Issuer's Common Stock. The number of PSUs earned and issuable upon vesting will be determined based on goals (set by the Compensation Committee of the Issuer's Board of Directors (the "Compensation Committee") on an annual basis) for each of the three fiscal years prior to the vesting date. The aggregate number of shares issued may range from zero shares to 200% of the target number of shares reported in columns 5, 7 and 9 of Table II. The number of PSUs reported in columns 5, 7 and 9 of Table II reflects achievement at the target level of performance. This PSU will vest on 03/15/2025.
F2 Each PSU represents a contingent right to receive one share of the Issuer's Common Stock, based on the Issuer's total shareholder return (TSR) compared to pre-established relative TSR goals, based on the TSR of a peer index of companies (set by the Compensation Committee at the time of grant) over the three fiscal years ending prior to the vesting date. The aggregate number of shares issued may range from zero shares to 200% of the target number of shares reported in columns 5, 7 and 9 of Table II. The number of PSUs reported in columns 5, 7 and 9 of Table II reflects achievement at the target level of performance. This PSU will vest on 03/15/2025.
F3 Each PSU represents a contingent right to receive one share of the Issuer's Common Stock. The number of PSUs earned and issuable upon vesting will be determined based on achievement of a revenue goal set (prior to grant) by the Compensation Committee for the fiscal year ending December 31, 2022. The aggregate number of shares issued may range from zero shares to 200% of the target number of shares reported in columns 5, 7 and 9 of Table II. The number of PSUs reported in columns 5, 7 and 9 of Table II reflects achievement at the target level of performance. This PSU will vest on 03/15/2023.