Lopez Miguel A's Form 4 filing
Ribbon Communications Inc.RBBN · filed Mar 18, 2024
- Accession no.
- 0001062993-24-006570
- Filed
- Mar 18, 2024
- Trade date
- Mar 15, 2024
- Filing delay
- 3 days
- Rule 10b5-1 plan
- Not checked
This filing lists 4 non-derivative transactions and 2 derivative transactions. Open-market purchases total $5.80K. It was filed 3 days after the trade.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Lopez Miguel ACIK 0001600024 | Officer (EVP, CFO) |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
| Trade date | Security | Transaction | Shares | Price | Value | Shares after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Mar 15, 2024 | Common Stock | PPurchaseAcquired | +2,000 | $2.90F1 | +$5,800 | 280,875 | Direct | |
| Mar 15, 2024 | Common Stock | MOption exerciseAcquired | +8,960 | –F2 | – | 289,835 | Direct | |
| Mar 15, 2024 | Common Stock | MOption exerciseAcquired | +3,441 | –F3 | – | 293,276 | Direct | |
| Mar 15, 2024 | Common Stock | FTax withholdingDisposed | −4,155 | $2.83F4 | −$11,758.65 | 289,121 | Direct |
Derivative securities (Table II)
Options, warrants, restricted stock units and similar. Shares are the underlying shares; price and value are for the derivative itself, and the holding after is in derivative units.
| Trade date | Security | Transaction | Underlying shares | Unit price | Value | Held after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Mar 15, 2024 | Common Stock | MOption exerciseDisposed | −8,960 | $0.00 | $0 | 0 | Direct | |
| Mar 15, 2024 | Common Stock | MOption exerciseDisposed | −3,441 | $0.00 | $0 | 0 | Direct |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- F1
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.8991 to $2.8992, inclusive. The reporting person undertakes to provide to Ribbon Communications, any security holder of Ribbon Communications, 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.
Referenced by the price of 1 transaction in Table I.
- F2
Each Restricted Stock Unit (RSU) and Performance Share Unit (PSU) converts into common stock on a one-for-one basis.
Referenced by the price of 1 transaction in Table I.
- F3
The number of PSUs earned and issued upon vesting was determined based on goals (set by the Compensation Committee of the Issuer's Board of Directors (the "Compensation Committee") on an annual basis) for each of the three fiscal years ended December 31, 2023. Based on the Compensation Committee's determination of achievement of these pre-established financial goals, 32% of the shares subject to the 2023 financial period were earned and vested on March 15, 2024, and no shares were earned for the 2021 and 2022 performance periods and were forfeited.
Referenced by the price of 1 transaction in Table I.
- F4
Reflects shares of Common Stock withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of the RSUs and PSUs.
Referenced by the price of 1 transaction in Table I.