Form 4: Ribbon Communications EVP & COO Sam Bucci Reports Stock Transactions
SEC Form 4
Sam Bucci, EVP & COO of Ribbon Communications, reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- Sam Bucci, the EVP & COO of Ribbon Communications, filed a Form 4 detailing changes in beneficial ownership.
- On October 17, 2024, 25,816 Restricted Stock Units (RSUs) vested, converting into common stock on a one-for-one basis.
- Following the vesting, 13,819 shares were withheld by Ribbon Communications to satisfy tax obligations at a price of $3.38 per share.
- Bucci directly owns 332,335 shares of common stock after these transactions on October 17, 2024.
- On October 18, 2024, 26,709 Restricted Stock Units (RSUs) vested, converting into common stock on a one-for-one basis.
- Following the vesting, 14,297 shares were withheld by Ribbon Communications to satisfy tax obligations at a price of $3.56 per share.
- Bucci directly owns 344,787 shares of common stock after these transactions on October 18, 2024.
- After the transactions, Bucci directly owns 77,446 RSUs granted on April 17, 2023 and 26,709 RSUs granted on April 18, 2022.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document simply reports stock transactions related to executive compensation.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increase in the number of shares available in the market.
Key Dates
| Date | Description |
|---|---|
| April 18, 2022 | Date RSUs were granted, vesting in installments through April 18, 2025 |
| April 17, 2023 | Date RSUs were granted, vesting in installments through April 17, 2026 |
| April 18, 2023 | One-third of RSUs granted on April 18, 2022 vested. |
| April 17, 2024 | One-third of RSUs granted on April 17, 2023 vested. |
| October 17, 2024 | 25,816 RSUs vested; 13,819 shares withheld for taxes at $3.38. |
| October 18, 2024 | 26,709 RSUs vested; 14,297 shares withheld for taxes at $3.56. |
| April 18, 2025 | Remaining two-thirds of the RSUs granted on April 18, 2022 vest in four equal semi-annual installments thereafter through this date. |
| April 17, 2026 | Remaining two-thirds of the RSUs granted on April 17, 2023 vest in four equal semi-annual installments thereafter through this date. |
| October 21, 2024 | Date of Form 4 filing. |
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