0001062993-23-009365.txt : 20230419
0001062993-23-009365.hdr.sgml : 20230419
20230419171009
ACCESSION NUMBER: 0001062993-23-009365
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230417
FILED AS OF DATE: 20230419
DATE AS OF CHANGE: 20230419
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: 23830713
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: 6500 CHASE OAKS BOULEVARD
CITY: PLANO
STATE: TX
ZIP: 75023
BUSINESS PHONE: 877-412-8867
MAIL ADDRESS:
STREET 1: 6500 CHASE OAKS BOULEVARD
CITY: PLANO
STATE: TX
ZIP: 75023
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
form4.xml
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
X0407
4
2023-04-17
0001708055
Ribbon Communications Inc.
RBBN
0001424201
McClelland Bruce William
C/O RIBBON COMMUNICATIONS
6500 CHASE OAKS BLVD.
PLANO
TX
75023
1
1
0
0
President & CEO
0
Restricted Stock Units (RSUs)
2023-04-17
4
A
0
206526
0
A
Common Stock
206526
206526
D
Performance-Based RSUs (PSUs)
2023-04-17
4
A
0
232342
0
A
Common Stock
232342
232342
D
PSUs
2023-04-17
4
A
0
123915
0
A
Common Stock
123915
123915
D
PSUs
2023-04-17
4
A
0
82611
0
A
Common Stock
82611
82611
D
The RSUs convert to common stock on a one-for-one basis.
The RSUs will vest as to one-third on the first anniversary of the date of grant, and the remaining two-thirds will vest in four equal semi-annual installments thereafter through April 17, 2026.
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 achievement of a revenue goal set (prior to grant) by the Compensation Committee of the Issuer's Board of Directors (the "Compensation Committee") for the fiscal year ending December 31, 2023. The aggregate number of shares issued may range from zero shares to 200% of the target number of shares reported in columns 5, 7 and 9 of Table II. The number of PSUs reported in columns 5, 7 and 9 of Table II reflects achievement at the target level of performance. This PSU will vest on 04/17/2024.
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 on an annual basis) for each of the three fiscal years prior to the vesting date. The aggregate number of shares issued may range from zero shares to 200% of the target number of shares reported in columns 5, 7 and 9 of Table II. The number of PSUs reported in columns 5, 7 and 9 of Table II reflects achievement at the target level of performance. This PSU will vest on 04/17/2026.
Each PSU represents a contingent right to receive one share of the Issuer's Common Stock, based on the Issuer's total shareholder return (TSR) compared to pre-established relative TSR goals, based on the TSR of a peer index of companies (set by the Compensation Committee at the time of grant) over the three fiscal years ending prior to the vesting date. The aggregate number of shares issued may range from zero shares to 200% of the target number of shares reported in columns 5, 7 and 9 of Table II. The number of PSUs reported in columns 5, 7 and 9 of Table II reflects achievement at the target level of performance. This PSU will vest on 04/17/2026.
Patrick Macken, By POA from Bruce McClelland, CEO & President
2023-04-19