RBBN.NASDAQRibbon Communications INC

Form 4: Ribbon Communications Executive Patrick Macken Reports Stock Transactions

Sentiment:

SEC Form 4 Filing

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EVP, CLO & Secretary of Ribbon Communications, Patrick Macken, reports the vesting and conversion of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) into common stock, along with the withholding of shares for tax obligations.

Summary

  • Patrick Macken, EVP, CLO & Secretary of Ribbon Communications, filed a Form 4 detailing changes in beneficial ownership of company stock.
  • On March 15, 2024, Macken converted 7,965 Restricted Stock Units (RSUs) and 3,059 Performance Stock Units (PSUs) into common stock.
  • A total of 3,735 shares were withheld by Ribbon Communications to cover tax obligations related to the vesting of the RSUs and PSUs at a price of $2.83 per share.
  • Following these transactions, Macken directly owns 169,237 shares of Ribbon Communications common stock.

Sentiment

Score: 5

Explanation: This is a routine filing related to executive compensation. It doesn't indicate any significant positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of the US financial market, providing transparency into the transactions of company insiders. This filing indicates the vesting of previously granted equity compensation.

Stakeholder Impact

  • The vesting of RSUs and PSUs dilutes existing shareholders' equity, although the impact is likely minimal given the relatively small number of shares involved.

Key Dates

DateDescription
March 15, 2021RSUs were granted.
March 15, 2022One-third of the RSUs vested.
December 31, 2023End of the three fiscal year period used to determine the number of PSUs earned.
March 15, 2024RSUs and PSUs vested and converted to common stock; shares withheld for taxes.
March 18, 2024Date of Form 4 filing.

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