Eric S. Marmurek - 15 Mar 2022 Form 4 Insider Report for Ribbon Communications Inc. (RBBN)

Role: SVP, Finance & CAO
Signature: Patrick Macken, Attorney-in-Fact
Issuer symbol: RBBN
Transactions as of: 15 Mar 2022
Net transactions value: -$34,517
Form type: 4
Filing time: 17 Mar 2022, 17:12:00 UTC
Previous filing: 19 Oct 2021
Next filing: 18 Apr 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RBBN	Common Stock	Options Exercise		+8,234	+11%		85,991	15 Mar 2022	Direct	F1
transaction	RBBN	Common Stock	Award		+11,301	+13%		97,292	15 Mar 2022	Direct	F5
transaction	RBBN	Common Stock	Options Exercise		+11,047	+11%		108,339	15 Mar 2022	Direct	F6
transaction	RBBN	Common Stock	Tax liability	$23,565	-8,386	-7.7%	$2.81	99,953	15 Mar 2022	Direct	F2
transaction	RBBN	Common Stock	Options Exercise		+15,432	+15%		115,385	16 Mar 2022	Direct	F1
transaction	RBBN	Common Stock	Tax liability	$10,952	-3,663	-3.2%	$2.99	111,772	16 Mar 2022	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	RBBN	Restricted Stock Units (RSU)	Options Exercise	$0	-8,234	-33%	$0.000000	16,466	15 Mar 2022	Common Stock	8,234		Direct	F1, F3
transaction	RBBN	Performance-based Restricted Stock Unit (PSUs)	Options Exercise	$0	-11,047	-100%	$0.000000^*	0	15 Mar 2022	Common Stock	11,047		Direct	F6
transaction	RBBN	Restricted Stock Unit (RSU)	Options Exercise	$0	-15,432	-33%	$0.000000	30,864	16 Mar 2022	Common Stock	15,432		Direct	F1, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	RSUs convert to Common Stock on a one-for-one basis.
F2	Reflects shares of Common stock withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of RSUs and/or PSUs.
F3	The RSU vested as to one third on March 15, 2022 and the remaining two-thirds will vest in four equal semi-annual installments thereafter through March 15, 2024
F4	The RSUs originally vested as to one third on March 16, 2021, and the remaining two-thirds will vest in four equal semi-annual installments thereafter through March 16, 2023.
F5	PSUs that convert to Common Stock on a one-for-one basis based on the achievement of financial metrics in each of the 2019, 2020 and 2021 fiscal years establised by the Issuer's Compensation Committee of it's Board of Directors (Compensation Committee) at the time of grant. The PSUs then vested on March 15, 2022. Any unearned shares were forefeited.
F6	PSUs that convert to Common Stock on a one-for-one basis based on the achievement of the Issuer's total sharholder return (TSR) for the 3-year period ended December 31, 2021 compared to TSR goals established by the Compensation Committee at the time of grant based on the TSR of a group of peer companies identified by the Compensation Committee. The PSUs then vested on March 15, 2022. Any unearned shares were forefeited.