SEC Form 4 · accession 0001708055-19-000002
Ribbon Communications Inc. · RBBN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Franklin W Hobbs IV
Officer — CEO, President & Director · Director
Period of report
Dec 31, 2018
Accepted (ET)
Jan 2, 2019 · 4:07 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001708055
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Dec 31, 2018 | M | 150,000 | $0.00 | A | 225,000 | D | |
| Common StockF1 | Dec 31, 2018 | M | 65,000 | $0.00 | A | 290,000 | D | |
| Common StockF4 | Dec 31, 2018 | F | 105,285 | $5.09 | D | 184,715 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Units (RSUs)F1,F2 | — | Dec 31, 2018 | M | 150,000 | D | — | — | Common Stock | 150,000 | 0 | D |
| Restricted Stock Units (RSUs)F1,F3 | — | Dec 31, 2018 | M | 65,000 | D | — | — | Common Stock | 65,000 | 130,000 | D |
Explanation of responses
- F1Each restricted stock unit converts into Ribbon Communications Inc. common stock on a one-for-one basis.
- F2On April 19, 2018, the reporting person was granted 150,000 restricted stock units, which vested in full on December 31, 2018.
- F3On May 15, 2018, the reporting person was granted 195,000 restricted stock units. The restricted stock units vest in three equal annual installments beginning on December 31, 2018, subject to the reporting person's continued employment with Ribbon Communications Inc. or any of its subsidiaries or affiliates that may employ the reporting person through such date.
- F4PAYMENT OF TAX LIABILITY BY DELIVERING SECURITIES TO THE COMPANY INCIDENT TO THE VESTING OF A SECURITY.