RBBN.NASDAQRibbon Communications INC

Form 4: Ribbon Communications EVP, CFO Miguel Lopez Reports Changes in Beneficial Ownership

Sentiment:

SEC Form 4 Filing

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Miguel Lopez, EVP and CFO of Ribbon Communications, reports transactions involving common stock, restricted stock units (RSUs), and performance share units (PSUs) on March 15, 2024.

Summary

  • On March 15, 2024, Miguel Lopez, the EVP and CFO of Ribbon Communications, reported changes in his beneficial ownership of the company's securities.
  • These changes involve transactions in common stock, restricted stock units (RSUs), and performance share units (PSUs).
  • Lopez purchased 2,000 shares of common stock at a weighted average price of $2.8992.
  • 8,960 RSUs and 3,441 PSUs converted into common stock.
  • 4,155 shares were withheld by Ribbon Communications to satisfy tax obligations related to the vesting of RSUs and PSUs.
  • Following these transactions, Lopez directly owns 289,121 shares of Ribbon Communications common stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing transactions by an executive. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.

Stakeholder Impact

  • Shareholders gain insight into executive compensation and ownership.
  • Employees may be indirectly affected by the company's performance, which influences PSU vesting.

Key Dates

DateDescription
03/15/2021RSUs were granted.
03/15/2022One-third of the RSUs vested.
12/31/2023End of the three fiscal year period used to determine the number of PSUs earned.
03/15/2024Date of transactions involving common stock, RSUs, and PSUs; remaining two-thirds of RSUs vested.
03/18/2024Date of signature on the Form 4 filing.

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