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Filing Details

Accession Number:: 0001708055-21-000042
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-03-02 20:46:01
Reporting Period:: 2021-02-26

Accepted Time:: 2021-03-02 20:46:01
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1708055	Ribbon Communications Inc.	RBBN	Services-Computer Integrated Systems Design (7373)	821669692

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1824854	Sam Bucci	C/O Ribbon Communications Inc. 4 Technology Park Drive Westford MA 01886	Evp & Gm, Ip Optical Networks	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2021-03-01	7,500	$8.83	67,947	No	4	S	Direct
Common Stock	Disposition	2021-03-02	10,000	$8.59	57,947	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Performance Based Restricted Stock Units (PSUs)	Acquisiton	2021-02-26	25,059	$0.00	25,059	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
25,059			No	4	A	Direct

Footnotes

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $8.59 to $8.61, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price with the ranges set forth in this footnote.
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 (the "Compensation Committee") of the Issuer's Board of Directors on an annual basis for each of the three fiscal years prior to the vesting date.
The Compensation Committee determined that the 2020 pre-bonus adjusted EBITDA (50% weighting) and Revenue (50% weighting) metrics resulted in a combined 125% level of the target awards being earned for the 2020 financial performance period, subject to no material changes in connection with the finalization of the audit and the filing of the Issuer's Annual Report on Form 10-K for the year ended December 31, 2020 (the "2020 Form 10-K"). The 2020 Form 10-K was filed with the U.S. Securities and Exchange Commission on February 26, 2021. As a result, Mr. Bucci earned 25,059 shares, pending his continued employment with the Issuer through the vesting date (third anniversary of the date of grant).