Form 4 for RBBN Ribbon Communications Inc.
Accepted 2022-03-17 00:00:00 ET · period of report 2022-03-15 · accession 0001062993-22-008057 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DM | 2022-03-17 | 2022-03-15+ | RBBN | Marmurek Eric S | SVP, CAO, Fin | M - OptEx | — | +34.7K | 115.4K | +43% | — |
| D | 2022-03-17 | 2022-03-15 | RBBN | Marmurek Eric S | SVP, CAO, Fin | A - Grant | — | +11.3K | 97.3K | +13% | — |
| DM | 2022-03-17 | 2022-03-15+ | RBBN | Marmurek Eric S | SVP, CAO, Fin | F - Tax | $2.86 | -12.0K | 111.8K | -10% | -$34.5K |
| DM | 2022-03-17 | 2022-03-15+ | RBBN | Marmurek Eric S | SVP, CAO, Fin | M - OptEx | $0.00 | -34.7K | 30.9K | -53% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2022-03-15 | M | A | 8,234 | — | 85,991 | D | — | — | (F1) RSUs convert to Common Stock on a one-for-one basis. |
| 2 | Common | Common Stock | 2022-03-15 | A | A | 11,301 | — | 97,292 | D | — | — | (F5) PSUs that convert to Common Stock on a one-for-one basis based on the achievement of financial metrics in each of the 2019, 2020 and 2021 fiscal years establised by the Issuer's Compensation Committee of it's Board of Directors (Compensation Committee) at the time of grant. The PSUs then vested on March 15, 2022. Any unearned shares were forefeited. |
| 3 | Common | Common Stock | 2022-03-15 | M | A | 11,047 | — | 108,339 | D | — | — | (F6) PSUs that convert to Common Stock on a one-for-one basis based on the achievement of the Issuer's total sharholder return (TSR) for the 3-year period ended December 31, 2021 compared to TSR goals established by the Compensation Committee at the time of grant based on the TSR of a group of peer companies identified by the Compensation Committee. The PSUs then vested on March 15, 2022. Any unearned shares were forefeited. |
| 4 | Common | Common Stock | 2022-03-15 | F | D | 8,386 | $2.81 | 99,953 | D | — | — | (F2) Reflects shares of Common stock withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of RSUs and/or PSUs. |
| 5 | Common | Common Stock | 2022-03-16 | M | A | 15,432 | — | 115,385 | D | — | — | (F1) RSUs convert to Common Stock on a one-for-one basis. |
| 6 | Common | Common Stock | 2022-03-16 | F | D | 3,663 | $2.99 | 111,772 | D | — | — | (F2) Reflects shares of Common stock withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of RSUs and/or PSUs. |
| 7 | Derivative | Restricted Stock Units (RSU) | 2022-03-15 | M | D | 8,234 | $0.00 | 16,466 | D | — · — to — | 8,234 Common Stock | (F1) RSUs convert to Common Stock on a one-for-one basis. (F3) The RSU vested as to one third on March 15, 2022 and the remaining two-thirds will vest in four equal semi-annual installments thereafter through March 15, 2024 |
| 8 | Derivative | Performance-based Restricted Stock Unit (PSUs) | 2022-03-15 | M | D | 11,047 | $0.00 | 0 | D | — · — to — | 11,047 Common Stock | (F6) PSUs that convert to Common Stock on a one-for-one basis based on the achievement of the Issuer's total sharholder return (TSR) for the 3-year period ended December 31, 2021 compared to TSR goals established by the Compensation Committee at the time of grant based on the TSR of a group of peer companies identified by the Compensation Committee. The PSUs then vested on March 15, 2022. Any unearned shares were forefeited. |
| 9 | Derivative | Restricted Stock Unit (RSU) | 2022-03-16 | M | D | 15,432 | $0.00 | 30,864 | D | — · — to — | 15,432 Common Stock | (F1) RSUs convert to Common Stock on a one-for-one basis. (F4) The RSUs originally vested as to one third on March 16, 2021, and the remaining two-thirds will vest in four equal semi-annual installments thereafter through March 16, 2023. |