McCready John R 4
4 · Ribbon Communications Inc. · Filed Mar 3, 2020
Insider Transaction Report
Form 4
McCready John R
EVP Core R&D & Product Mgmt
Transactions
- Award
Restricted Stock Units
2020-02-28+2,337→ 2,337 total→ Common Stock (2,337 underlying)
Footnotes (2)
- [F1]Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of the Issuer's Common Stock. The number of RSUs was determined based on the Issuer's calculation of its 2019 pre-bonus adjusted EBITDA metric compared to pre-established goals that were set by the Compensation Committee (the "Compensation Committee") of the Issuer's Board of Directors.
- [F2]On February 11, 2020, the Compensation Committee determined that the 2019 pre-bonus adjusted EBITDA metric was achieved at the 30.493% level, subject to no material changes in connection with the finalization of the 2019 audit and the filing of the Issuer's Annual Report on Form 10-K for the year ended December 31, 2019 (the "2019 Form 10-K"). The 2019 Form 10-K was filed with the U.S. Securities and Exchange Commission on February 28, 2020. As a result, Mr. McCready earned 2,337 shares, pending his continued employment with the Issuer through March 15, 2022.