Form 4 for RBBN Ribbon Communications Inc.
Accepted 2022-03-17 00:00:00 ET · period of report 2022-03-15 · accession 0001062993-22-008058 · 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 | Bruny Steven M | EVP Sales, Americas Region | F - Tax | $2.87 | -37.1K | 252.3K | -13% | -$106.4K |
| DM | 2022-03-17 | 2022-03-15+ | RBBN | Bruny Steven M | EVP Sales, Americas Region | M - OptEx | — | +62.8K | 279.3K | +29% | — |
| D | 2022-03-17 | 2022-03-15 | RBBN | Bruny Steven M | EVP Sales, Americas Region | A - Grant | — | +22.3K | 256.1K | +10% | — |
| DM | 2022-03-17 | 2022-03-15+ | RBBN | Bruny Steven M | EVP Sales, Americas Region | M - OptEx | $0.00 | -62.8K | 0 | -100% | $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 | 2022-03-16 | F | D | 11,520 | $2.99 | 267,792 | D | — | — | (F3) Reflects share of Common Stock withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of RSUs and/or PSUs. |
| 2 | Common | Common Stock | 2022-03-15 | M | A | 13,940 | — | 233,717 | D | — | — | (F4) 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. (F1) RSUs convert into common stock on a one-for one basis. |
| 3 | Common | Common Stock | 2022-03-15 | A | A | 22,341 | — | 256,058 | 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. |
| 4 | Common | Common Stock | 2022-03-15 | F | D | 25,591 | $2.81 | 252,306 | D | — | — | (F3) Reflects share 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 | 2022-03-15 | M | A | 21,839 | — | 277,897 | 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. |
| 6 | Common | Common Stock | 2022-03-16 | M | A | 27,006 | — | 279,312 | D | — | — | (F2) The RSU originally vested as to one-third on March 16, 2021 and the remaining two-thirds of the RSUs will vest in four equal semi-annual installments thereafter through March 16, 2023. (F1) RSUs convert into common stock on a one-for one basis. |
| 7 | Derivative | Restricted Stock Unit (RSU) | 2022-03-16 | M | D | 27,006 | $0.00 | 54,012 | D | — · — to — | 27,006 Common Stock | (F1) RSUs convert into common stock on a one-for one basis. (F2) The RSU originally vested as to one-third on March 16, 2021 and the remaining two-thirds of the RSUs will vest in four equal semi-annual installments thereafter through March 16, 2023. |
| 8 | Derivative | Restricted Stock Units (RSU) | 2022-03-15 | M | D | 13,940 | $0.00 | 27,877 | D | — · — to — | 13,940 Common Stock | (F1) RSUs convert into common stock on a one-for one basis. (F4) 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. |
| 9 | Derivative | Performance-based Restricted Stock Unit (PSU) | 2022-03-15 | M | D | 21,839 | $0.00 | 0 | D | — · — to — | 21,839 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. |