Swarth Investments Inc. 3
3 · Ribbon Communications Inc. · Filed Jul 29, 2020
Insider Transaction Report
Form 3
Swarth Investments Inc.
10% Owner
Holdings
- 25,796,395
Common Stock
Footnotes (1)
- [F1]On November 14, 2019, ECI Holding (Hungary) Kft. ("ECI Hungary") and the Issuer entered into an Agreement and Plan of Merger (the "Merger Agreement"), pursuant to which ECI Hungary acquired 25,796,395 shares of the Issuer's common stock, par value $0.0001 per share (the "Common Stock"), of which 1,454,545 shares of Common Stock are held in an escrow and are subject to forfeiture during a period of up to five years following the closing of the transactions contemplated by the Merger Agreement to satisfy certain potential liabilities under the Merger Agreement. The transactions contemplated by the Merger Agreement closed on March 3, 2020, at which time the Common Stock was issued to ECI Hungary. ECI Hungary transferred 25,796,395 shares of Common Stock to the Reporting Person, an affiliate of ECI Hungary with common ownership, on July 28, 2020.