Macken Patrick W 4

What Happened

• Patrick W. Macken, EVP and Chief Legal Officer of Ribbon Communications (RBBN), was granted three derivative equity awards on June 15, 2026: 162,500 shares, 97,500 shares, and 65,000 shares (total 325,000). Each award is reported at $0.00 (no cash paid) and will convert one-for-one into common stock upon vesting.

Key Details

• Transaction type: A = Award/Grant (derivative awards reported at $0.00).
• Grant date / Period of report: 2026-06-15; Form 4 filed 2026-06-17 (timely within the Form 4 reporting window).
• Specific awards: 162,500; 97,500; 65,000 (total 325,000).
• Vesting / performance:
  • All awards convert 1:1 to common stock (Footnote F1).
  • RSUs: vest one-third on June 15, 2027; remaining two-thirds vest in four equal semi-annual installments through June 15, 2029 (F2).
  • PSUs (first set): payout determined by annual performance goals for each of three fiscal years prior to vesting; payout range 0–100% of target; vest April 15, 2029 (F3).
  • PSUs (TSR-based): payout based on Ribbon’s relative total shareholder return vs. a peer index over three fiscal years; payout range 0–125% of target; vest April 15, 2029 (F4).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Form 4 filed two days after the grants; appears timely (not marked late).

Context

• These are equity awards (RSUs/PSUs), not open-market purchases or sales. They are subject to time- and/or performance-based vesting, so they do not represent immediately tradable shares. Such grants are common for executive compensation and should be interpreted as future potential equity, contingent on vesting and performance conditions.