Form 4: Ribbon Communications Executive Dan Redington Reports Stock Transactions
SEC Form 4 Filing
EVP of Global Sales at Ribbon Communications, Dan Redington, reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On June 15, 2024, Dan Redington, EVP of Global Sales at Ribbon Communications, reported transactions involving Ribbon Communications Inc. common stock.
- 20,833 Restricted Stock Units (RSUs) vested and converted to common stock on a one-for-one basis.
- 7,781 shares of common stock were withheld by the issuer to satisfy tax withholding obligations at a price of $2.96 per share.
- Following these transactions, Redington directly owns 118,706 shares of Ribbon Communications Inc. common stock.
- Redington also directly owns 62,499 Restricted Stock Units (RSUs).
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
Executive stock transactions are a routine part of corporate governance and compensation practices. Form 4 filings are required by the SEC to provide transparency into these transactions.
Stakeholder Impact
- The transactions have a minor impact on the total outstanding shares of Ribbon Communications Inc.
Key Dates
| Date | Description |
|---|---|
| 06/15/2024 | Date of RSU vesting and stock transactions. |
| 06/18/2024 | Date of Form 4 filing. |
| 12/15/2025 | Final vesting date for remaining RSUs. |
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