Miguel A. Lopez - 17 Apr 2024 Form 4 Insider Report for Ribbon Communications Inc. (RBBN)

Role
EVP, CFO
Signature
Patrick Macken, By POA from Miguel Lopez
Issuer symbol
RBBN
Transactions as of
17 Apr 2024
Net transactions value
-$164,230
Form type
4
Filing time
19 Apr 2024, 16:17:39 UTC
Previous filing
18 Mar 2024
Next filing
18 Jul 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RBBN Common Stock Options Exercise +77,448 +27% 366,569 17 Apr 2024 Direct F1
transaction RBBN Common Stock Options Exercise +31,714 +8.7% 398,283 17 Apr 2024 Direct F1
transaction RBBN Common Stock Options Exercise +31,714 +8% 429,997 17 Apr 2024 Direct F1
transaction RBBN Common Stock Tax liability $137,633 -52,733 -12% $2.61 377,264 17 Apr 2024 Direct F2
transaction RBBN Common Stock Options Exercise +26,709 +7.1% 403,973 18 Apr 2024 Direct F1
transaction RBBN Common Stock Tax liability $26,597 -10,349 -2.6% $2.57 393,624 18 Apr 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 -77,448 -50% $0.000000 77,447 17 Apr 2024 Common Stock 77,448 Direct F1, F3
transaction RBBN Performance Share Units (PSUs) Options Exercise $0 -31,714 -100% $0.000000* 0 17 Apr 2024 Common Stock 31,714 Direct F1, F4
transaction RBBN PSUs Options Exercise $0 -31,714 -100% $0.000000* 0 17 Apr 2024 Common Stock 31,714 Direct F1, F4
transaction RBBN RSUs Options Exercise $0 -26,709 -33% $0.000000 53,418 18 Apr 2024 Common Stock 26,709 Direct F1, F5
* 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-half on April 17, 2024; the remaining half of the RSUs vest in two equal installments thereafter on July 17, 2024 and October 17, 2024.
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.
F5 The RSUs were granted on April 18, 2022 and vested as to one-third on April 18, 2023; the remaining two-thirds of the RSUs will vest in four equal semi-annual installments thereafter through April 18, 2025.