Ribbon Communications Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds (c) Issuer Purchases of Equity Securities The following table provides information with respect to the shares of common stock repurchased by us for the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Approximate Dollar ​ ​ ​ ​ ​ ​ ​ Total Number of ​ Value of Shares ​ ​ ​ ​ ​ ​ ​ Shares Purchased ​ that May ​ ​ ​ ​ ​ ​ ​ as Part of ​ Yet be Purchased ​ ​ Total Number ​ Average ​ Publicly ​ Under ​ ​ of Shares ​ Price Paid ​ Announced Plans ​ the Plans Period Purchased (1) per Share or Programs (2) or Programs (3) April 1, 2025 to April 30, 2025 ​ 272,304 ​ $ 3.55 ​ — ​ $ — May 1, 2025 to May 31, 2025 ​ 359,001 ​ $ 3.62 ​ — ​ $ — June 1, 2025 to June 30, 2025 ​ 50,581 ​ $ 3.74 ​ 572,810 ​ $ 47,746,588 Total ​ 681,886 ​ $ 3.60 ​ 572,810 ​ $ 47,746,588 (1) Upon vesting of restricted stock awards, certain of our employees surrender a portion of the newly vested shares of common stock to satisfy the tax withholding obligations that arise in connection with their vesting. During the second quarter of 2025, 681,886 shares of restricted stock were surrendered. (2) In June 2025, we announced a stock repurchase program for the period beginning June 5, 2025 through December 31, 2027, under which our Board of Directors authorized the repurchase of up to $50 million of our common stock at management’s discretion in the open market, in privately negotiated transactions structured through investment banking institutions, or a combination of the foregoing, (the "2025 Repurchase Program" or the “Repurchase Program”). We used $2.3 million to repurchase 572,810 shares of our common stock under the Repurchase Program during the second quarter of 2025. At June 30, 2025, we had $47.7 million remaining under the Repurchase Program for future repurchases. The amount and timing of repurchases are subject to a variety of factors including liquidity, cash flow, stock price, compliance with our credit facility and general business and market conditions. We may also from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of our shares under this 55 Table of Contents authorization. The Repurchase Program may be modified, increased, suspended, or discontinued at any time. The Repurchase Program is being funded using cash on hand and cash from operations. (3) Represents amounts available for repurchases under the Repurchase Program.