SEC Form 4 · accession 0001078271-16-000193
EXTREME NETWORKS INC · EXTR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Edward Meyercord
Officer — President and CEO · Director
Period of report
Aug 15, 2016
Accepted (ET)
Aug 17, 2016 · 5:51 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 | Jul 29, 2016 | J | 8,865 | $2.397 | A | 604,169 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance SharesF3,F2 | $0.00 | Aug 15, 2016 | A | 260,000 | A | Aug 15, 2017 | Aug 15, 2019 | Common Stock | 260,000 | 260,000 | D |
| RSU AwardF3,F4 | $0.00 | Aug 15, 2016 | A | 260,000 | A | Aug 15, 2017 | Aug 15, 2019 | Common Stock | 260,000 | 260,000 | D |
Explanation of responses
- F1Shares were purchased through the 2014 Employee Stock Purchase Plan.
- F2Performance based RSU shares vest once the Company's stock equals or exceeds $5.00 for 30 consecutive trading days after January 1, 2017 ("Performance Threshold"). Once Performance 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 (see footnote #4 below). If threshold is not met by the third anniversary of the grant date the award is terminated for no consideration.
- F3Column 8 is not an applicable reportable field.
- F4This Time Based RSU award vests from the original grant date as to 1/3 on the one year anniversary and 1/12 each quarter thereafter.