SEC Form 4 · accession 0001078271-17-000014
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
Jan 31, 2017
Accepted (ET)
Jun 2, 2017 · 4:46 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 | Jan 31, 2017 | J | 3,982 | $3.23 | A | 103,982 | D | |
| Common StockF2 | Jun 1, 2017 | F | 12,527 | $9.99 | D | 91,455 | D | |
| Common Stock | Jun 1, 2017 | M | 33,333 | $0.00 | A | 124,788 | D | |
| Common StockF3 | Jun 1, 2017 | F | 12,527 | $9.99 | D | 112,261 | 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 RSUF4 | $0.00 | Jun 1, 2017 | M | 33,333 | D | Jun 1, 2017 | Jun 1, 2019 | Common Stock | 0 | 66,667 | D |
Explanation of responses
- F1Shares were purchased through the 2014 Employee Stock Purchase Plan.
- F2Represents shares withheld from the RSU award for the payment of applicable income and payroll withholding taxes due on release.
- F3Represents shares withheld from the Performance Based RSU award for the payment of applicable income and payroll withholding taxes due on release.
- F4Performance 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.