0001708055-20-000044.txt : 20200317 0001708055-20-000044.hdr.sgml : 20200317 20200317181158 ACCESSION NUMBER: 0001708055-20-000044 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20200313 FILED AS OF DATE: 20200317 DATE AS OF CHANGE: 20200317 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: McClelland Bruce William CENTRAL INDEX KEY: 0001424201 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-38267 FILM NUMBER: 20722401 MAIL ADDRESS: STREET 1: 3871 LAKEFIELD DRIVE CITY: SUWANEE STATE: GA ZIP: 30024 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Ribbon Communications Inc. CENTRAL INDEX KEY: 0001708055 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 821669692 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 4 TECHNOLOGY PARK DRIVE CITY: WESTFORD STATE: MA ZIP: 01886 BUSINESS PHONE: 978-614-8090 MAIL ADDRESS: STREET 1: 4 TECHNOLOGY PARK DRIVE CITY: WESTFORD STATE: MA ZIP: 01886 FORMER COMPANY: FORMER CONFORMED NAME: Sonus Networks, Inc. DATE OF NAME CHANGE: 20171027 FORMER COMPANY: FORMER CONFORMED NAME: Solstice Sapphire Investments, Inc. DATE OF NAME CHANGE: 20170531 4 1 edgar.xml PRIMARY DOCUMENT X0306 4 2020-03-13 0001708055 Ribbon Communications Inc. RBBN 0001424201 McClelland Bruce William C/O RIBBON COMMUNICATIONS INC. 4 TECHNOLOGY PARK DRIVE WESTFORD MA 01886 1 1 0 0 President & CEO Common Stock 2020-03-13 4 P 0 10000 2.20 A 65575 D Common Stock 2020-03-16 4 P 0 10000 2.2578 A 75575 D Restricted Stock Units (RSUs) 2020-03-16 4 A 0 462963 0 A Common Stock 462963 462963 D Performance-Based Restricted Stock Units (PSUs) 2020-03-16 4 A 0 4750000 0 A Common Stock 4750000 4750000 D Each RSU represents a contingent right to receive one share of Ribbon Communications Inc. ("Ribbon") common stock. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.55 to $2.60, inclusive. The reporting person undertakes to provide to Ribbon, any security holder of Ribbon, 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. The RSUs shall become fully vested on the earlier of (i) March 16, 2021 and (ii) the date of the consummation of a change in control (the earlier date, the "Vesting Date"), so long as the reporting person remains actively and continuously employed by the Company or any of its subsidiaries through the Vesting Date. The PSUs vest upon Ribbon's common stock achieving sustained market prices of $7.50, $12.00, $15.00 and $20.00 per share over a consecutive twenty day period during the applicable performance period (each such date a "Performance Vesting Date"), in each case, subject to the reporting person's active and continuous employment by Ribbon or any of its subsidiaries through each applicable Performance Vesting Date; provided that no PSUs are eligible to vest after September 1, 2024. In the event that the applicable target price for a performance period is not achieved, the corresponding PSUs may still be eligible to vest in a later performance period. Bruce W. McClelland 2020-03-17