Paradigm Capital Holds 8.75M Shares of Ribbon Communications; Sole Voting Power

Rhea-AI Filing Summary

Paradigm Capital Management, Inc. filed an amendment to Schedule 13G reporting ownership of Ribbon Communications Inc. common stock. Paradigm holds 8,748,200 shares, representing 4.96% of the class, and reports sole voting and sole dispositive power over those shares. The filing indicates the position was measured as of 06/30/2025 and certified on 08/14/2025. Paradigm classifies itself as an investment adviser and states the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. The filing notes ownership is 5% or less of the class and no group affiliations are reported.

Positive

• Significant minority stake: Ownership of 8,748,200 shares (4.96%) is a material position for many investors
• Sole voting and dispositive power over the reported shares gives Paradigm direct control of voting and disposition decisions

Negative

• Below 5% threshold: Reported ownership is 4.96%, classified as 5% or less, which limits certain disclosure/activism implications
• No intent to influence control stated in the certification, indicating no announced strategy to change company governance

Insights

Financial Analyst

TL;DR Paradigm holds a meaningful minority stake (4.96%) with sole voting/control of shares but remains below the 5% reporting threshold that often signals activist intent.

Paradigm's 8.75 million-share position is large enough to be material to some investors' ownership tables yet deliberately below the 5% mark that can trigger different regulatory and market perceptions. Reporting sole voting and dispositive power indicates direct control over trading and votes for this stake. The certification that shares are held in the ordinary course and not to influence control suggests no declared activist campaign. For investors, this is notable ownership information but not an immediate governance or control shift.

Corporate Governance Expert

TL;DR Sole voting power over 4.96% is governance-relevant but the filer disclaims intent to influence control, making this a neutral governance signal.

From a governance perspective, sole voting authority over nearly 5% of outstanding stock gives Paradigm the ability to vote meaningfully on shareholder matters, yet the form explicitly states the position is not held to change control. No group affiliations or coordinated action are reported, reducing immediate concern about contested control or proxy activity. Stakeholders should note the size and control rights but recognize the filing's clear disclaimer about intent.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Ribbon Communications Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

762544104

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 762544104

1

Names of Reporting Persons

PARADIGM CAPITAL MANAGEMENT INC/NY

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 8,748,200.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 8,748,200.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,748,200.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Ribbon Communications Inc.
(b)	Address of issuer's principal executive offices: 6500 CHASE OAKS BOULEVARD, 6500 CHASE OAKS BOULEVARD, PLANO, TEXAS, 75023.
Item 2.
(a)	Name of person filing: Paradigm Capital Management, Inc.
(b)	Address or principal business office or, if none, residence: 9 Elk Street, Albany, NY 12207
(c)	Citizenship: New York S Corporation
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 762544104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 8748200
(b)	Percent of class: 4.96 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 8748200
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 8748200
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

PARADIGM CAPITAL MANAGEMENT INC/NY

Signature:	Gregg A Miller
Name/Title:	CCO
Date:	08/14/2025

FAQ

How many Ribbon Communications (RBBN) shares does Paradigm Capital report owning?

Paradigm Capital reports owning 8,748,200 shares of Ribbon Communications common stock.

What percentage of RBBN does Paradigm Capital own according to this filing?

The filing reports Paradigm Capital owns 4.96% of Ribbon Communications' common stock.

Does Paradigm Capital have voting control over the reported RBBN shares?

Yes. The filing states Paradigm has sole voting power and sole dispositive power over the 8,748,200 shares.

Is Paradigm Capital indicating an intent to influence control of Ribbon Communications?

No. The certification states the shares are held in the ordinary course of business and not to change or influence control of the issuer.

As of what date is the position reported?

The filing identifies the date of the event requiring the statement as 06/30/2025 and the certification was signed on 08/14/2025.