Macken Patrick W 4

What Happened
Patrick W. Macken, EVP and Chief Legal Officer of Ribbon Communications (RBBN), had equity awards (RSUs and performance PSUs) vest and convert into 251,081 shares on April 17 and May 15, 2026. To satisfy tax-withholding obligations, the company withheld and disposed of 112,681 shares for cash withholding (totaling $300,626 across the two dates: $2.71 per share on April 17 and $2.63 per share on May 15). Net of withholdings, Macken received 138,400 shares. The transactions are conversions/vestings of awards (transaction code M for conversion, F for tax withholding), not open-market sales.

Key Details

• Transaction dates: April 17, 2026 and May 15, 2026; Form 4 filed May 19, 2026.
• Total shares converted/issued: 251,081. Shares withheld for taxes (disposed): 112,681; net shares retained: 138,400.
• Cash value withheld: $300,626 (Apr 17 withholdings at $2.71/share; May 15 withholdings at $2.63/share).
• Footnotes: RSUs/PSUs convert one-for-one to common stock; some awards were RSUs granted Apr 17, 2023 (fully vested) and May 15, 2025 (partial vesting); PSU payouts were based on pre-established financial and TSR goals with varying payout percentages (see filing footnotes F3–F8).
• Filing timeliness: Form filed May 19, 2026. The Form 4 deadline is typically two business days after a reportable transaction, so these vesting/conversion events were reported after the usual Form 4 window.

Context
These entries reflect routine vesting/conversion of company awards and the common practice of share withholding to cover tax liabilities (cashless withholding), not open-market selling or an independent sale signal. Transaction codes: M = exercise/conversion of a derivative (here, conversion of RSUs/PSUs), F = payment of exercise price or tax liability (shares withheld). For retail investors, award vestings and withheld sales for taxes are generally administrative and do not by themselves indicate insider buying or selling sentiment.