Swade Michael R. 4
4 · Ribbon Communications Inc. · Filed Apr 4, 2018
Insider Transaction Report
Form 4
Swade Michael R.
EVP Global Sales
Transactions
- Exercise/Conversion
Common Stock
2018-04-02+13,542→ 218,827 total - Exercise/Conversion
Performance-Based Restricted Stock Units (PSUs)
2018-04-02+8,125→ 0 totalExercise: $0.00→ Common Stock (8,125 underlying) - Tax Payment
Common Stock
2018-04-02$5.10/sh−18,249$93,070→ 208,703 total - Exercise/Conversion
Common Stock
2018-04-02+8,125→ 226,952 total - Exercise/Conversion
Performance-Based Restricted Stock Units (PSUs)
2018-04-02+13,542→ 5,208 totalExercise: $0.00→ Common Stock (13,542 underlying)
Footnotes (5)
- [F1]Represents the vesting (at 130% of target) of Performance-Based Restricted Stock Units (PSUs) granted on March 31, 2017 for the 2017 performance period. As a result of the achievement of 130%, which was above target, the Company increased the number of shares granted to the individual by 3,125 shares, or the above-target amount, to account for such achievement.Performance for this award during the award's 2017 performance period was measured based on the Issuer's total shareholder return (TSR) compared to pre-established relative TSR goals, based on the TSR of the NASDAQ Telecommunications Index, that were set by the Compensation Committee of the Issuer's Board of Directors.
- [F2]The remaining PSUs will vest on March 31, 2019 and accordingly have no expiration date.
- [F3]Represents the vesting (at 130% of target) of Performance-Based Restricted Stock Units (PSUs) granted on April 1, 2016 for the 2017 performance period. As a result of the achievement of 130%, which was above target, the Company increased the number of shares granted to the individual by 1,875 shares, or the above-target amount, to account for such achievement.Performance for this award during the award's 2017 performance period was measured based on the Issuer's total shareholder return (TSR) compared to pre-established relative TSR goals, based on the TSR of the NASDAQ Telecommunications Index, that were set by the Compensation Committee of the Issuer's Board of Directors.
- [F4]The PSUs have fully vested and accordingly have no expiration date
- [F5]PAYMENT OF TAX LIABILITY BY DELIVERING SECURITIES TO THE COMPANY INCIDENT TO THE VESTING OF A SECURITY.