SEC Form 4 · accession 0001078271-18-000037
EXTREME NETWORKS INC · EXTR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert J Gault
Officer — EVP Worldwide Sales Services
Period of report
Aug 15, 2018
Accepted (ET)
Aug 16, 2018 · 5:54 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 | Aug 15, 2018 | M | 26,400 | $0.00 | A | 205,208 | D | |
| Common StockF1 | Aug 15, 2018 | F | 12,360 | $6.28 | D | 192,848 | D | |
| Common StockF2 | Aug 15, 2018 | F | 12,237 | $6.28 | D | 180,611 | D | |
| Common Stock | Aug 15, 2018 | M | 6,670 | $0.00 | A | 187,281 | D | |
| Common StockF1 | Aug 15, 2018 | F | 3,092 | $6.28 | D | 184,189 | D | |
| Common Stock | Aug 15, 2018 | M | 6,670 | $0.00 | A | 190,859 | D | |
| Common StockF3 | Aug 15, 2018 | F | 3,092 | $6.28 | D | 187,767 | D | |
| Common Stock | Aug 15, 2018 | M | 8,338 | $0.00 | A | 196,105 | D | |
| Common StockF3 | Aug 15, 2018 | F | 3,865 | $6.28 | D | 192,240 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance SharesF5,F4 | $0.00 | Aug 15, 2018 | M | 6,670 | D | Nov 15, 2017 | Aug 15, 2019 | Common Stock | 6,670 | 26,680 | D |
| Performance SharesF5,F6 | $0.00 | Aug 15, 2018 | M | 26,400 | D | Aug 15, 2016 | Aug 15, 2022 | Common Stock | 26,400 | 0 | D |
| RSU AwardF5,F7 | $0.00 | Aug 15, 2018 | M | 6,670 | D | Nov 15, 2017 | Aug 15, 2019 | Common Stock | 6,670 | 26,680 | D |
| RSU AwardF5,F8 | $0.00 | Aug 15, 2018 | M | 8,338 | D | Feb 15, 2018 | Feb 15, 2020 | Common Stock | 8,338 | 50,025 | D |
Explanation of responses
- F1Represents shares withheld from the Performance Based RSU award for the payment of applicable income and payroll withholding taxes due on release.
- F2The reporting person was granted 80,000 RSUs on August 15, 2015, which vest annually over 3 years in equal installments with the first vesting date on August 15, 2016. On August 15, 2018 a total of 26,400 shares vested. 12,237 shares represents the aggregate number of shares of Issuer common stock withheld for payment of the tax liability incident to the vesting of the RSUs issued in accordance with Rule 16b-3.
- F3Represents shares withheld from the RSU award for the payment of applicable income and payroll withholding taxes due on release.
- F4Performance grants were earned when EXTR shares reached $5.00 per share for 30 consecutive trading days after January 1st 2017. Earned shares vest as to 1/3 on the one year anniversary date and 1/12 each quarter thereafter.
- F5This is not an applicable reportable field for this type of grant.
- F6Performance grants were earned when EXTR shares reached $3.50 per share for 30 consecutive trading days. Shares vest in equal installments on August 15, 2016, August 15, 2017 and August 15, 2018.
- F7This 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.
- F8This Time Based RSU award vests as to 1/3 on February 15, 2018 and 1/12 each quarter thereafter subject to continued service at the company through the vesting dates.