Bruce McClelland - Apr 17, 2024 Form 4 Insider Report for Ribbon Communications Inc. (RBBN)

Role
President & CEO, Director
Signature
Patrick Macken, By POA from Bruce McClelland, CEO & President
Stock symbol
RBBN
Transactions as of
Apr 17, 2024
Transactions value $
-$182,037
Form type
4
Date filed
4/19/2024, 04:17 PM
Previous filing
Mar 4, 2024
Next filing
May 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RBBN Common Stock Options Exercise +68.8K +5.92% 1.23M Apr 17, 2024 Direct F1
transaction RBBN Common Stock Options Exercise +121K +9.82% 1.35M Apr 17, 2024 Direct F1
transaction RBBN Common Stock Tax liability -$182K -69.7K -5.16% $2.61 1.28M Apr 17, 2024 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 (RSUs) Options Exercise $0 -68.8K -33.33% $0.00 138K Apr 17, 2024 Common Stock 68.8K Direct F1, F3
transaction RBBN Performance Share Units (PSUs) Options Exercise $0 -121K -100% $0.00* 0 Apr 17, 2024 Common Stock 121K Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit (RSU) and Performance Share Unit (PSU) converts 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.
F3 The RSUs were granted on April 17, 2023 and vested as to one-third on April 17, 2024; the remaining two-thirds of the RSUs will vest in four equal semi-annual installments thereafter through April 17, 2026.
F4 The PSUs were issued on April 17, 2023. The number of PSUs earned and vested was based on achievement of a revenue goal set (prior to grant) by the Compensation Committee of the Issuer's Board of Directors for the fiscal year ended December 31, 2023. The remaining PSUs were forfeited.