Bruce McClelland - May 15, 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
May 15, 2024
Transactions value $
$0
Form type
4
Date filed
5/17/2024, 05:31 PM
Previous filing
Apr 19, 2024
Next filing
Oct 21, 2024

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) Award $0 +237K $0.00 237K May 15, 2024 Common Stock 237K Direct F1, F2
transaction RBBN Performance-Based RSUs (PSUs) Award $0 +328K $0.00 328K May 15, 2024 Common Stock 328K Direct F3
transaction RBBN PSUs Award $0 +218K $0.00 218K May 15, 2024 Common Stock 218K Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The RSUs convert to common stock on a one-for-one basis.
F2 The RSUs vest in full on May 16, 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 goals (set by the Compensation Committee on an annual basis) for each of the two fiscal years prior to the vesting date. The aggregate number of shares issued may range from zero shares to 150% 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 05/15/2026.
F4 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 05/15/2027.