SEC Form 4 · accession 0001078271-16-000178
EXTREME NETWORKS INC · EXTR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Benjamin Drew Davies
Officer — EVP Chief Financial Officer
Period of report
Jun 1, 2016
Accepted (ET)
Jun 3, 2016 · 6:30 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 StockF1 | Jun 1, 2016 | A | 100,000 | $0.00 | A | 100,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Based RSUF2 | $0.00 | Jun 1, 2016 | A | 100,000 | A | — | Jun 1, 2019 | Common Stock | 100,000 | 100,000 | D |
Explanation of responses
- F1Grant of Restricted Stock Unit. Vests in full in 3 years, one-third on the anniversary of the grant date, and then one-twelfth on each 3 month anniversary of the grant date thereafter, which will be settled solely with shares of the Company's common stock.
- F2Performance based RSU shares vest once the Company's stock equals or exceeds $5.00 for 30 consecutive trading days. Once threshold is satisfied the Performance-Based RSUs shall vest with respect to the number of Time-Based RSUs that have vested as of the date the Performance Threshold is satisfied and thereafter shall vest on the same schedule as the Time-Based RSUs. If threshold is not met by the third anniversary of the grant date the award is terminated for no consideration.