Edward Meyercord - Jan 2, 2024 Form 4 Insider Report for EXTREME NETWORKS INC (EXTR)

Role
PRESIDENT AND CEO, Director
Signature
/s/ Katayoun "Katy" Motiey, Power of Attorney for Ed Meyercord
Stock symbol
EXTR
Transactions as of
Jan 2, 2024
Transactions value $
-$323,272
Form type
4
Date filed
1/3/2024, 04:20 PM
Previous filing
Dec 1, 2023
Next filing
Feb 2, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EXTR Common Stock Options Exercise $182K +28.4K +2.52% $6.40 1.16M Jan 2, 2024 Direct
transaction EXTR Common Stock Sale -$505K -28.4K -2.46% $17.77 1.13M Jan 2, 2024 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction EXTR Non-Qualified Stock Option (right to buy) Options Exercise $0 -28.4K -10.41% $0.00 245K Jan 2, 2024 Common Stock 28.4K $6.40 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Adoption date of referenced 10b5-1(c) plan is: 08-04-2023
F2 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.39 to $18.08 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 This Performance Stock Option Grant was achieved after the Company's Common Stock closing price exceeded $10.00 for 30 consecutive trading days on June 25, 2021. Once earned, the shares vest as to 1/3 subject thereto on August 31, 2019 and 1/12 of the shares thereto on each quarterly anniversary thereafter with any shares that would have already been vested in accordance with the time based vesting schedule vesting immediately when the PSOs were earned.