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