Stephen J. McCaffery - Jun 15, 2022 Form 4 Insider Report for Ribbon Communications Inc. (RBBN)

Role: EVP, Sales EMEA and APAC
Signature: Patrick Macken, Attorney-in-Fact
Stock symbol: RBBN
Transactions as of: Jun 15, 2022
Transactions value $: $0
Form type: 4
Date filed: 6/17/2022, 05:53 PM
Previous filing: Apr 20, 2022
Next filing: Sep 19, 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	+67.5K		$0.00	67.5K	Jun 15, 2022	Common Stock	67.5K		Direct	F1
transaction	RBBN	PSU	Award	$0	+45K		$0.00	45K	Jun 15, 2022	Common Stock	45K		Direct	F2
transaction	RBBN	PSU	Award	$0	+96.1K		$0.00	96.1K	Jun 15, 2022	Common Stock	96.1K		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.