secwatch.observer — SEC 8-K summary
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Issuer:     Ribbon Communications Inc. (RBBN)
CIK:        0001708055
Form:       8-K
Filed at:   2024-10-04T23:59:59+00:00
Accession:  0001104659-24-106285
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ribbon Communications names John Townsend as EVP and CFO, effective after Q3 filing
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- John Townsend appointed EVP, CFO effective upon filing of Q3 10-Q or Nov 1, 2024; Miguel Lopez retiring.
- Townsend previously CFO of Digicel Group and Verizon Business; base salary $500,000, target bonus 75%.
- Sign-on equity grants: $750k time-based RSUs (vest over ~2.5 years) and $750k performance-based PSUs (2025-2027 metrics).
- Also receives $750k share price PSUs based on stock price targets through Oct 2028; $50k relocation bonus.
- Severance: 6-12 months salary plus prorated bonus and equity acceleration on change in control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1708055/000110465924106285/0001104659-24-106285-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1708055/000110465924106285/tm2425528d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-106285

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer