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) July 1, 2025 to July 31, 2025 ​ 7,798 ​ $ 3.94 ​ 512,468 ​ $ 45,769,156 August 1, 2025 to August 31, 2025 ​ 33,284 ​ $ 3.95 ​ 398,624 ​ $ 44,269,368 September 1, 2025 to September 30, 2025 ​ 71,487 ​ $ 3.76 ​ — ​ $ 44,269,368 Total ​ 112,569 ​ $ 3.83 ​ 911,092 ​ $ 44,269,368 (1) Upon vesting of restricted stock awards and performance-based stock units, 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 third quarter of 2025, 112,569 awards and units were surrendered, consisting of 95,847 shares of restricted stock and 16,722 of performance-based stock units. (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 $3.5 million to repurchase 911,092 shares of our common stock under the Repurchase Program during the third quarter of 2025. At September 30, 2025, we had $44.3 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 56 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.