SEC Form 4 · accession 0001078271-18-000050
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 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.
Table II — derivative securities
| 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 | 330,200 | A | Aug 31, 2019 | Aug 29, 2025 | Common Stock | 330,200 | 330,200 | D |
| Performance SharesF3,F2 | $0.00 | Aug 29, 2018 | A | 139,000 | A | Aug 31, 2019 | Aug 31, 2021 | Common Stock | 139,000 | 139,000 | D |
| RSU AwardF3,F4 | $0.00 | Aug 29, 2018 | A | 139,000 | A | Aug 31, 2019 | Aug 31, 2021 | Common Stock | 139,000 | 139,000 | D |
Explanation of responses
- 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.