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, 2026, there were approximately 350 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 2025:
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)
October 1, 2025 to October 31, 2025
135,611
$
3.81
418,496
$
42,769,442
November 1, 2025 to November 30, 2025
930
$
3.08
553,743
$
41,045,333
December 1, 2025 to December 31, 2025
3,995
$
2.98
—
$
41,045,333
Total
140,536
$
3.78
972,239
$
41,045,333
(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 2025, 140,536 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.
(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 $3.2 million to repurchase 972,239 shares of our common stock under the Repurchase Program during the fourth quarter of 2025. At December 31, 2025, we had $41.0 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 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.
Performance Graph
The following performance graph compares the cumulative total return to stockholders for our common stock for the period from December 31, 2020 through December 31, 2025 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
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of $100 on December 31, 2020 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,
2020
2021
2022
2023
2024
2025
Ribbon Communications Inc.
$
100.00
$
92.23
$
42.53
$
44.21
$
63.41
$
43.90
Nasdaq Composite
$
100.00
$
122.18
$
82.43
$
119.22
$
154.48
$
187.14
Russell 2000
$
100.00
$
114.82
$
91.35
$
106.82
$
119.14
$
134.40
Nasdaq Telecommunications
$
100.00
$
102.14
$
74.69
$
82.63
$
93.76
$
107.59
Item 6. [Reserved]
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