SEC Form 4 · accession 0001078271-18-000049

EXTREME NETWORKS INC · EXTR

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — EVP Worldwide Sales Services

Period of report

Aug 29, 2018

Accepted (ET)

Aug 31, 2018 · 5:07 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001078271

Table I — non-derivative securities

No Table I lines on this filing.

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)^F1	$6.40	Aug 29, 2018	A	95,700	A	Aug 31, 2019	Aug 29, 2025	Common Stock	95,700	95,700	D
Performance Shares^F3,F2	$0.00	Aug 29, 2018	A	40,300	A	Aug 31, 2019	Aug 31, 2021	Common Stock	40,300	40,300	D
RSU Award^F3,F4	$0.00	Aug 29, 2018	A	40,300	A	Aug 31, 2019	Aug 31, 2021	Common Stock	40,300	40,300	D

F1Performance Options will be earned if EXTR shares reach $10.00 per share for 30 consecutive trading days after August 31st 2018. Earned options vest as to 1/3 on 8/31/2019 and 1/12 each quarter thereafter, provided, however, that options earned after the one-year anniversary will vest ratably based on the time elapsed from 8/31/2018 until the hurdle date, and then quarterly thereafter. Shares will be cancelled if goal is not met by August 31st 2021.
F2Performance Stock Unit will be earned if GAAP combined earnings per share meets or exceeds $0.20 over two consecutive quarters. Earned shares vest as to 1/3 on 8/31/2019 and 1/12 each quarter thereafter, provided, however, that shares earned after the one-year anniversary will vest ratably based on the time elapsed from 8/31/2018 until the hurdle date, and then quarterly thereafter. Shares will be cancelled if goal is not met by August 31st 2021.
F3This is not an applicable reportable field for this type of grant.
F4This time based RSU award vests as to 1/3 on 8/31/2019 and 1/12 each quarter thereafter.