rng-20251209

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE

SECURITIES EXCHANGE ACT OF 1934

Filed by the Registrant ☒

Filed by a Party other than the Registrant ☐

Check the appropriate box:

☐ Preliminary Proxy Statement

☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

☒ Definitive Proxy Statement

☐ Definitive Additional Materials

☐ Soliciting Material Pursuant to §240.14a‑11(c) or §240.14a‑2


RingCentral, Inc.
(Name of Registrant as Specified In Its Charter)

Not Applicable
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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☒ No fee required.

☐ Fee paid previously with preliminary materials.

☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a‑6(i)(1) and 0‑11(a)(2).

RINGCENTRAL, INC.

20 DAVIS DRIVE

BELMONT, CALIFORNIA 94002

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

To Be Held at 10:00 a.m., Pacific Time, on December 31, 2025

Dear Stockholders of RingCentral, Inc.:

The Annual Meeting of Stockholders (as it may be postponed, adjourned or continued from time to time, the “Annual Meeting”) of RingCentral, Inc., a Delaware corporation (the “Company”), will be held on December 31, 2025, at 10:00 a.m., Pacific Time. You will be able to attend the Annual Meeting virtually by visiting www.virtualshareholdermeeting.com/RNG2025 where you will be able to listen to the meeting live, submit questions and vote online by entering the control number located on your proxy card.

The Annual Meeting will be held for the following purposes as more fully described in the accompanying proxy statement:

1. To elect the six (6) directors nominated by our board of directors and named in the proxy statement (Proposal One);

2. To ratify the appointment of KPMG LLP as our independent registered public accounting firm for the year ending December 31, 2025 (Proposal Two); and

3. To approve, on an advisory and non-binding basis, executive compensation as described in this proxy statement (Proposal Three).

The board of directors of RingCentral, Inc. has fixed the close of business on November 10, 2025 as the record date for the meeting. Only stockholders of record of our Class A common stock, Class B common stock, and Series A convertible preferred stock as of the close of business on November 10, 2025 are entitled to notice of and to vote at the meeting. Further information regarding voting rights and the matters to be voted upon is presented in our proxy statement.

This proxy statement and our 2024 annual report can be accessed directly at the following Internet address: ir.ringcentral.com.

YOUR VOTE IS IMPORTANT. Whether or not you plan to attend the Annual Meeting of Stockholders, we urge you to submit your vote via the Internet, telephone or mail.

We appreciate your continued support of RingCentral, Inc. and look forward to your attendance at the meeting or receiving your proxy.

By order of the Board of Directors,

Vladimir Shmunis

Chairman and Chief Executive Officer

Belmont, California

December 9, 2025

TABLE OF CONTENTS


			Page
PROCEDURAL MATTERS			1
PROPOSAL ONE - TO ELECT S IX (6 ) DIRECTORS			7
General			7
Nominees for Director			8
Vote Required			9
BOARD OF DIRECTORS AND CORPORATE GOVERNANCE			10
Director Independence			10
Leadership Structure			10
Lead Independent Director			10
Board Meetings and Committees			10
Considerations in Evaluating Director Nominees			13
Stockholder Recommendations for Nominations to the Board of Directors			14
Communications with the Board of Directors			14
Corporate Governance Guidelines and Code of Business Conduct and Ethics			14
Risk Management			14
Compensation Committee Interlocks and Insider Participation			15
Non-Employee Director Compensation			15
PROPOSAL TWO – RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM			19
Professional Fees Paid to the Independent Registered Public Accounting Firm			19
Audit Committee Policy on Pre-Approval of Audit and Permissible Non-Audit Services of Independent Registered Public Accounting Firm			20
PROPOSAL THREE – ADVISORY APPROVAL OF EXECUTIVE COMPENSATION			21
REPORT OF THE AUDIT COMMITTEE			22
EXECUTIVE OFFICERS			23
EXECUTIVE COMPENSATION			24
Compensation Discussion and Analysis			24
202 4 Executive Compensation Highlights			24
Compensation Philosophy and Objectives			24
Executive Compensation Policies and Practices			25
Compensation-Setting Process			26
Compensation Overview			27
Base Salary			27
Annual Incentive Compensation			28
Equity Compensation			30
Welfare and Other Employee Benefits			32
Perquisites			32
Post-Employment Compensation			33
Executive Employment Arrangements			33
Other Compensation Policies			34
Tax and Accounting Considerations			35
Compensation-Related Risk			35
Report of the Compensation Committee			36
Summary Compensation Table			37
Grants of Plan-Based Awards in 20 24			38
Outstanding Equity Awards at Fiscal Year-End			39

-i-


Option Exercises and Stock Vested in 202 4			41
Pension Benefits			41
Non-Qualified Deferred Compensation			41
Potential Payments upon Termination and upon Termination in Connection with a Change of Control			41
CEO Pay Ratio			43
Pay versus Performance Disclosure			45
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT			49
Equity Compensation Plan Information			52
CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS			53
Limitation of Officer and Director Liability and Indemnification Arrangements			53
Policies and Procedures for Related Party Transactions			55
OTHER MATTERS			56
Delinquent Section 16(a) Reports			56
202 4 Annual Report and SEC Filings			57

-ii-


Nominees	Age*	Position*	Director Since
Current Directors
Vladimir Shmunis	65	Chairman and Chief Executive Officer	1999
Prat Bhatt(1)(2)	59	Director	2024
Kenneth Goldman(1)(2)(3)	76	Director	2017
Amy Guggenheim Shenkan(3)	60	Director	2024
Robert Theis(1)(2)(3)	64	Director	2011
New Director Nominee
Mahmoud ElAssir	51	Director	—


*						As of December 9, 2025.
(1)						Member of the audit committee.
(2)						Member of the compensation committee.
(3)						Member of the nominating and corporate governance committee.
(4)						In December 2025, our board of directors, at the recommendation of our nominating and corporate governance committee, nominated Mahmoud ElAssir to be elected as a member of our board of directors at the Annual Meeting.


Name	Fees Earned or Paid in Cash ($)	Stock Awards ($)(1)	All Other Compensation ($)	Total ($)
Prat Bhatt (2)	58,911	351,223	—	410,134
Mignon Clyburn (3)	52,339	199,993	—	252,332
Kenneth Goldman (4)	77,527	199,993	—	277,520
Ned Segal (5)	67,500	454,764	—	522,264
Amy Guggenheim Shenkan (6)	148	—	—	148
Robert Theis (7)	107,554	199,993	—	307,547
Allan Thygesen (8)	23,710	—	—	23,710
Neil Williams (9)	80,000	199,993	—	279,993
Mahmoud ElAssir (10)	—	—	—	—


	2024		2023
Audit Fees (1)	$	3,328,137	$	3,074,679
Audit Related Fees (2)	—		235,000
All Other Fees (3)	9,500		502,000
Total Fees	$	3,337,637	$	3,811,679


Alteryx	Envestnet	Paycom Software
Blackbaud	Five9	Pegasystems
Box	Guidewire Software	Twilio
Docusign	HubSpot	Zoom Communications
Dropbox	MongoDB	Zoominfo Technologies
Dynatrace	Okta


Name	2024 Base Salary	2023 Base Salary	Percent Increase (Decrease)
Vladimir Shmunis	$500,000 (1)	$500,000 (1)	—
Vaibhav Agarwal	$500,000	$500,000	—
John Marlow	$450,000	$450,000	—
Sonalee Parekh	$500,000	$500,000	—
Abhey Lamba	$500,000	—	—


Name	2024 Target Bonus Opportunity (as a % of 2024 Base Salary)	2024 Target Bonus Opportunity
Vladimir Shmunis	100%	$500,000
Vaibhav Agarwal	100%(1)	$437,500
John Marlow	100%	$450,000
Sonalee Parekh	100%	$500,000
Abhey Lamba	100%	$500,000


	Revenue												Non-GAAP Operating Margin
	Q1			Q2			Q3			Q4			Q1		Q2		Q3		Q4
Target (in millions)	$	580.6		$	588.8		$	607.5		$	617.4		19.1	%	20.4	%	21.9	%	22.4	%
Achievement (% of Target)	100.6		%	100.8		%	100.2		%	99.5		%	108.9	%	103.0	%	95.9	%	95.1	%
Payout (% of Target)	106.2		%	108.1		%	102.1		%	95.2		%	111.5	%	101.2	%	96.1	%	94.6	%


Name	Intended Value of RSUs		Intended Target Value of PSUs
Vladimir Shmunis	$	6,000,000	$	6,000,000
Vaibhav Agarwal	$	2,078,000	$	1,385,000
John Marlow	$	1,969,000	$	1,313,000
Sonalee Parekh	$	2,188,000	$	1,460,000


Name and Principal Position	Year	Salary ($)	Bonus ($)	Stock Awards ($) (1)	Non-Equity Incentive Plan Compensation ($) (2)	All Other Compensation ($) (3)	Total ($)
Vladimir Shmunis Chief Executive Officer	2024	376,367 (4)	—	14,565,146	533,311 (5)	16,272	15,491,096
	2023	5,470	—	20,616,162	508,722	10,733	21,141,087
	2022	5,470	—	19,288,954	517,280	373,493	20,185,197
Vaibhav Agarwal Chief Financial Officer	2024	500,000	—	4,317,415	483,159 (6)	8,532	5,309,106
	2023	135,000	—	3,203,409	410,342	7,443	3,756,194
	2022	135,000	—	11,102,334	360,414	576	11,598,324
John Marlow Chief Administrative Officer, Senior Vice President, Corporate Development, General Counsel and Secretary	2024	450,000	—	4,091,861	482,766 (7)	8,982	5,033,609
	2023	60,000	—	9,339,843	457,844	6,188	9,863,875
	2022	60,000	—	6,010,755	422,193	134,826	6,627,774
Sonalee Parekh Former Chief Financial Officer	2024	346,795	—	4,548,283	266,875 (8)	4,869	5,166,822
	2023	60,000	—	10,620,399	508,728	7,583	11,196,710
	2022	147,500	—	10,666,699	298,609	192,348	11,305,156
Abhey Lamba Former Chief Financial Officer	2024	41,666	—	11,999,125	38,801 (9)	—	12,079,592
	2023	—	—	—	—	—	—
	2022	—	—	—	—	—	—


			Estimated Future Payouts Under Equity Incentive Plan Awards
Name	Grant Date	Approval Date	Threshold (#)	Target (#)	Maximum (#)	All Other Stock Awards: Number of Securities Underlying Restricted Stock Units (#)	Grant Date Fair Value of Stock Awards ($)(1)
Vladimir Shmunis	5/19/2024	5/19/2024	—	—	—	183,880	6,788,850
	5/19/2024	5/19/2024	80,294 (2)	183,880 (3)	367,760 (4)	—	7,776,296
	11/20/2024	11/15/2024	—	—	—	4,208	147,448
Vaibhav Agarwal	5/19/2024	5/19/2024	19,299 (2)	44,198 (3)	88,396 (4)	—	1,869,139
	5/19/2024	5/19/2024	—	—	—	66,313	2,448,276
	11/15/2024	11/15/2024	—	—	—	4,418	158,076
John Marlow	5/19/2024	5/19/2024	18,298 (2)	41,901 (3)	83,802 (4)	—	1,771,993
	5/19/2024	5/19/2024	—	—	—	62,835	2,319,868
	11/15/2024	11/15/2024	—	—	—	3,787	135,499
Sonalee Parekh	5/19/2024	5/19/2024	20,345 (2)	46,592 (3)	93,184 (4)	—	1,970,381
	5/19/2024	5/19/2024	—	—	—	69,824	2,577,902
Abhey Lamba	12/16/2024	12/13/2024	—	125,210	—	—	4,999,635
	12/16/2024	12/13/2024		25,042		—	999,927
	12/16/2024	12/13/2024	—		—	125,210	4,999,635
	12/16/2024	12/13/2024	—	—	—	25,042	999,927


		Option Awards									Stock Awards
		Number of Securities Underlying Unexercised Options (#)				Option Exercise Price ($)		Option Expiration Date		Number of Shares or Units of Stock that Have Not Vested (#)		Market Value of Shares or Units of Stock that Have Not Vested ($)(1)
Name	Grant Date	Exercisable		Unexercisable
Vladimir Shmunis		5/1/2021	—		—		—		—		3,525 (2)		123,410
		4/1/2022	—		—		—		—		38,940 (3)		1,363,289
		5/19/2023	—		—		—		—		160,067 (4)		5,603,946
		5/19/2023	—		—		—		—		129,998 (5)		4,551,230
		5/19/2024	—		—		—		—		183,880 (6)		6,437,639
		5/19/2024	—		—		—		—		114,925 (7)		4,023,524
Vaibhav Agarwal		5/1/2021	—		—		—		—		882 (8)		30,879
		3/14/2022	—		—		—		—		17,307 (9)		605,918
		5/19/2023	—		—		—		—		22,235 (4)		778,447
		5/19/2023	—		—		—		—		24,375 (10)		853,369
		5/19/2024	—		—		—		—		44,198 (6)		1,547,372
		5/19/2024	—		—		—		—		49,735 (11)		1,741,222
John Marlow		5/1/2021	—		—		—		—		2,350 (12)		82,274
		3/14/2022	—		—		—		—		12,980 (13)		454,430
		5/19/2023	—		—		—		—		71,142 (4)		2,490,681
		5/19/2023	—		—		—		—		77,999 (14)		2,730,745
		5/19/2024	—		—		—		—		41,901 (6)		1,466,954
		5/19/2024	—		—		—		—		47,127 (15)		1,649,916
Sonalee Parekh (16)		—	—		—		—		—		—		—
Abhey Lamba		12/16/2024	—		—		—		—		125,210 (17)		4,383,602
		12/16/2024	—		—		—		—		25,042 (18)		876,720
		12/16/2024	—		—		—		—		125,210 (19)		4,383,602
		12/16/2024	—		—		—		—		25,042 (20)		876,720


	Cash Severance ($)(1)	Value of Accelerated Equity Awards ($)(2)	Continuing Health Coverage ($)(3)	Total ($)
Vladimir Shmunis	500,000	18,462,559	34,708	18,997,267
Vaibhav Agarwal	500,000	3,766,586	33,910	4,300,496
John Marlow	450,000	5,759,740	33,910	6,243,650
Sonalee Parekh (4)	—	—	—	—
Abhey Lamba	500,000	2,849,359	29,294	3,378,653

SEC Form DEF 14A filed by RingCentral Inc.