SEC FORM 3 SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
 
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1. Name and Address of Reporting Person*
DOLAN RAYMOND P

(Last) (First) (Middle)
C/O SONUS NETWORKS, INC.
4 TECHNOLOGY PARK DRIVE

(Street)
WESTFORD MA 01886

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
10/27/2017
3. Issuer Name and Ticker or Trading Symbol
Sonus Networks, Inc. [ SONS ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
President and CEO
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 1,220,886(1)(2) D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Total includes 47,917 restricted shares of Issuer Common Stock that the Reporting Person previously held through Sonus, Inc. (formerly Sonus Networks, Inc. and now an Issuer wholly-owned subsidiary, "Sonus"), in the form of performance-based restricted stock units ("PSUs"). Of this amount: (i) 4,167 shares of Issuer Common Stock will vest on March 16, 2018; (ii) 12,500 shares of Issuer Common Stock will vest in equal increments annually on each of April 1, 2018 and April 1, 2019; and (iii) 31,250 shares of Issuer Common Stock will vest in equal increments annually on each of March 31, 2018, March 31, 2019 and March 31, 2020.
2. Pursuant to the terms of the Reporting Person's employment agreement with the Issuer, the PSUs were converted into restricted shares of Issuer Common Stock upon the consummation of a series of merger transactions under the Agreement and Plan of Merger, dated as of May 23, 2017, by and among (i) Sonus, (ii) the Issuer (formerly Solstice Sapphire Investments, Inc.) and its wholly-owned subsidiaries and (iii) GENBAND Holdings Company and its two related holding companies.
Remarks:
Raymond P. Dolan 11/06/2017
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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