SEC Form 4 · accession 0001078271-15-000071
EXTREME NETWORKS INC · EXTR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Edward Meyercord
Officer — President and CEO
Period of report
Apr 19, 2015
Accepted (ET)
May 12, 2015 · 8:18 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001078271
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Apr 19, 2015 | A | 450,000 | $0.00 | A | 575,086 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F2 | $2.51 | May 8, 2015 | A | 300,000 | A | — | May 8, 2025 | Common Stock | 300,000 | 300,000 | D |
| Non-Qualified Stock Option (right to buy)F2 | $2.51 | May 8, 2015 | A | 300,000 | A | — | May 8, 2025 | Common Stock | 300,000 | 600,000 | D |
| Non-Qualified Stock Option (right to buy)F2 | $2.51 | May 8, 2015 | A | 300,000 | A | — | May 8, 2025 | Common Stock | 300,000 | 900,000 | D |
Explanation of responses
- F1Grant of Restricted Stock Unit. Vests in full in 3 years, one-third annually from date of hire.
- F2Performance Option Grant vests as follows: one-third of the shares subject to Performance Option will be Performance Earned, if at all, once the Company's common stock has traded publicly after April 19, 2015, for at least 30 consecutive trading days at a target closing price per share as reported on the NASDAQ Global Select Market of at least $3.50; an additional one-third of the shares subject to Performance Option will be Performance Earned, if at all, once the Company's common stock has traded publicly after April 19, 2015, for at least 30 consecutive trading days at a target closing price per share as reported on the NASDAQ Global Select Market of at least $4.50; all shares subject to the Performance Option will be Performance Earned, if at all, once the Company's common stock has traded publicly after April 19, 2015, for at least 30 consecutive trading days at a target closing price per share as reported on the NASDAQ Global Select Market of at least $5.50 (regardless of whether