Form 4 for RBBN Ribbon Communications Inc.
Accepted 2024-04-19 00:00:00 ET · period of report 2024-04-17 · accession 0001062993-24-008596 · 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 | 2024-04-19 | 2024-04-17 | RBBN | McClelland Bruce William | Pres, CEO, Dir | M - OptEx | — | +189.7K | 1.35M | +16% | — |
| D | 2024-04-19 | 2024-04-17 | RBBN | McClelland Bruce William | Pres, CEO, Dir | F - Tax | $2.61 | -69.7K | 1.28M | -5% | -$182.0K |
| DM | 2024-04-19 | 2024-04-17 | RBBN | McClelland Bruce William | Pres, CEO, Dir | M - OptEx | $0.00 | -189.7K | 137.7K | -58% | $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 | 2024-04-17 | M | A | 68,844 | — | 1,230,807 | D | — | — | (F1) Each Restricted Stock Unit (RSU) and Performance Share Unit (PSU) converts into common stock on a one-for-one basis. |
| 2 | Common | Common Stock | 2024-04-17 | F | D | 69,746 | $2.61 | 1,281,878 | D | — | — | (F2) Reflects shares of Common Stock withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting. |
| 3 | Common | Common Stock | 2024-04-17 | M | A | 120,817 | — | 1,351,624 | D | — | — | (F1) Each Restricted Stock Unit (RSU) and Performance Share Unit (PSU) converts into common stock on a one-for-one basis. |
| 4 | Derivative | Performance Share Units (PSUs) | 2024-04-17 | M | D | 120,817 | $0.00 | 0 | D | — · — to — | 120,817 Common Stock | (F1) Each Restricted Stock Unit (RSU) and Performance Share Unit (PSU) converts into common stock on a one-for-one basis. (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. |
| 5 | Derivative | Restricted Stock Units (RSUs) | 2024-04-17 | M | D | 68,844 | $0.00 | 137,682 | D | — · — to — | 68,844 Common Stock | (F1) Each Restricted Stock Unit (RSU) and Performance Share Unit (PSU) converts into common stock on a one-for-one basis. (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. |