Steven M. Bruny - Mar 15, 2022 Form 4 Insider Report for Ribbon Communications Inc. (RBBN)

Role: EVP Sales, Americas Region
Signature: Patrick Macken, Attorney-in-Fact
Stock symbol: RBBN
Transactions as of: Mar 15, 2022
Transactions value $: -$106,356
Form type: 4
Date filed: 3/17/2022, 05:12 PM
Previous filing: Dec 21, 2021
Next filing: Apr 20, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RBBN	Common Stock	Options Exercise		+13.9K	+6.34%		234K	Mar 15, 2022	Direct	F1, F4
transaction	RBBN	Common Stock	Award		+22.3K	+9.56%		256K	Mar 15, 2022	Direct	F5
transaction	RBBN	Common Stock	Options Exercise		+21.8K	+8.53%		278K	Mar 15, 2022	Direct	F6
transaction	RBBN	Common Stock	Tax liability	-$71.9K	-25.6K	-9.21%	$2.81	252K	Mar 15, 2022	Direct	F3
transaction	RBBN	Common Stock	Options Exercise		+27K	+10.7%		279K	Mar 16, 2022	Direct	F1, F2
transaction	RBBN	Common Stock	Tax liability	-$34.4K	-11.5K	-4.12%	$2.99	268K	Mar 16, 2022	Direct	F3

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	-13.9K	-33.34%	$0.00	27.9K	Mar 15, 2022	Common Stock	13.9K		Direct	F1, F4
transaction	RBBN	Performance-based Restricted Stock Unit (PSU)	Options Exercise	$0	-21.8K	-100%	$0.00^*	0	Mar 15, 2022	Common Stock	21.8K		Direct	F6
transaction	RBBN	Restricted Stock Unit (RSU)	Options Exercise	$0	-27K	-33.33%	$0.00	54K	Mar 16, 2022	Common Stock	27K		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	RSUs convert into common stock on a one-for one basis.
F2	The RSU originally vested as to one-third on March 16, 2021 and the remaining two-thirds of the RSUs will vest in four equal semi-annual installments thereafter through March 16, 2023.
F3	Reflects share of Common Stock withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of RSUs and/or PSUs.
F4	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.
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.