Form 4: Ribbon Communications Executive Macken Reports Stock Transactions
SEC Form 4 Filing
Patrick Macken, EVP, CLO & Secretary of Ribbon Communications, reports the acquisition and disposal of common stock and derivative securities related to vested Restricted Stock Units (RSUs).
Summary
- Patrick Macken, an executive at Ribbon Communications Inc., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On October 17, 2024, Macken acquired 20,652 shares of common stock through the vesting of Restricted Stock Units (RSUs).
- Also on October 17, 2024, 9,252 shares were disposed of to cover tax withholding obligations at a price of $3.38 per share.
- On October 18, 2024, Macken acquired 21,367 shares of common stock through the vesting of RSUs.
- Additionally, on October 18, 2024, 9,572 shares were disposed of to cover tax withholding obligations at a price of $3.56 per share.
- Following these transactions, Macken directly owns 244,179 shares of Ribbon Communications common stock and 21,367 RSUs.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, which are closely monitored by investors.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increase in outstanding shares from RSU vesting, offset by shares withheld for taxes.
Key Dates
| Date | Description |
|---|---|
| 04/18/2022 | Date RSUs were granted that vested as to one-third on April 18, 2023; the remaining two-thirds of the RSUs vest in four equal semi-annual installments thereafter through April 18, 2025. |
| 04/17/2023 | Date RSUs were granted that vested as to one-third on April 17, 2024; the remaining two-thirds of the RSUs vest in four equal semi-annual installments thereafter through April 17, 2026. |
| 04/17/2024 | One-third of the RSUs granted on April 17, 2023 vested. |
| 10/17/2024 | Macken acquired 20,652 shares through RSU vesting and disposed of 9,252 shares for tax obligations. |
| 10/18/2024 | Macken acquired 21,367 shares through RSU vesting and disposed of 9,572 shares for tax obligations. |
| 10/21/2024 | Date of Form 4 filing. |
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