Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Our common stock is traded on The Nasdaq Global Select Market under the symbol "RBBN."
Holders
At February 23, 2024 , there were approximately 356 holders of record of our common stock.
Recent Sales of Unregistered Securities
None.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
The following table summarizes repurchases of our common stock during the fourth quarter of 2023:
Period Total Number
of Shares
Purchased (1) Average
Price Paid
per Share Total Number of
Shares Purchased
as Part of
Publicly
Announced Plans
or Programs Approximate Dollar
Value of Shares that May
Yet be Purchased Under
the Plans or Programs
October 1, 2023 to October 31, 2023 128,636 $ 2.15 — $ —
November 1, 2023 to November 30, 2023 29,535 $ 2.05 — $ —
December 1, 2023 to December 31, 2023 88,882 $ 2.60 — $ —
Total 247,053 $ 2.30 — $ —
(1) Upon vesting of restricted stock awards, certain of our employees may return to us a portion of the newly vested shares to satisfy the tax withholding obligations that arise in connection with such vesting. During the fourth quarter of 2023, 247,053 shares of restricted stock were returned to us by employees to satisfy tax withholding obligations arising in connection with vesting of restricted stock, which shares are included in this column.
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Performance Graph
The following performance graph compares the cumulative total return to stockholders for our common stock for the period from December 31, 2018 through December 31, 2023 with the cumulative total return over the same period on the Nasdaq Composite Index, the Nasdaq Telecommunications Index and the Russell 2000. The comparison assumes an investment of $100 on December 31, 2018 in our common stock and in each of the indices and, in each case, assumes reinvestment of all dividends, if any. The performance shown is not necessarily indicative of future performance.
This graph is not deemed to be "filed" with the SEC or subject to the liabilities of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and should not be deemed to be incorporated by reference into any of our prior or subsequent filings under the Securities Act of 1933, as amended, or the Exchange Act.
December 31,
2018 December 31,
2019 December 31,
2020 December 31,
2021 December 31,
2022 December 31,
2023
Ribbon Communications Inc. $ 100.00 $ 64.32 $ 136.10 $ 125.52 $ 57.88 $ 60.17
Nasdaq Composite $ 100.00 $ 136.69 $ 198.10 $ 242.03 $ 163.28 $ 236.17
Russell 2000 $ 100.00 $ 125.52 $ 150.58 $ 172.90 $ 137.56 $ 160.85
Nasdaq Telecommunications $ 100.00 $ 118.74 $ 130.71 $ 133.51 $ 97.62 $ 108.00
Item 6. [Reserved]
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the is authoritative for anything you rely on.