Extreme Networks CFO sells shares, exercises RSUs
EXTREME NETWORKS INC EVP and CFO Kevin R. Rhodes reported routine equity compensation transactions and a planned share sale.
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Form Type
4
Rhea-AI Filing Summary
EXTREME NETWORKS INC EVP and CFO Kevin R. Rhodes reported routine equity compensation transactions and a planned share sale. On May 14, 2026, he sold 12,410 shares of common stock in an open-market transaction at $25.00 per share, executed under a pre-arranged Rule 10b5-1 trading plan.
On May 15, 2026, he exercised 9,818 restricted stock units into common stock at a conversion price of $0.00, with 4,355 shares withheld to cover income and payroll taxes due on the RSU release. Following these transactions, he directly holds 151,185 shares of common stock and 49,094 time-based RSUs that continue to vest over time.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
4 txns
Insider
RHODES KEVIN R
Role
EVP Chief Financial Officer
Sold
12,410 shs ($310K)
Approx. gross sale proceeds
$310K
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 9,818 | $0.00 | $0.00 |
| Exercise | Common Stock | 9,818 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 4,355 | $24.66 | $107K |
| Sale | Common Stock | 12,410 | $25.00 | $310K |
Holdings After Transaction:
Restricted Stock Units — 49,094 contracts (Direct);
Common Stock — 151,185 shares (Direct)
Footnotes (3)
- F1. Transaction pursuant to the Reporting Person's 10b5-1 Plan dated 05/23/2025.
- F2. Represents shares withheld from the released share award for the payment of applicable income and payroll withholding taxes due on release.
- F3. This 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.
Key Figures
Open-market sale: 12,410 shares at $25.00
Tax withholding shares: 4,355 shares at $24.66
RSUs converted: 9,818 RSUs at $0.00
+3 more
6 metrics
Open-market sale
12,410 shares at $25.00
Common Stock sale on May 14, 2026
Tax withholding shares
4,355 shares at $24.66
Shares withheld to pay taxes on RSU release
RSUs converted
9,818 RSUs at $0.00
Restricted Stock Units converted to Common Stock on May 15, 2026
Shares owned after transactions
151,185 shares
Direct common stock holdings following reported transactions
RSUs outstanding
49,094 RSUs
Time-based restricted stock units remaining after conversion
Net buy/sell direction
Net-sell of 12,410 shares
transactionSummary netBuySellDirection and netBuySellShares
Key Terms
Rule 10b5-1 Plan, Restricted Stock Units, open-market sale, tax withholding, +1 more
5 terms
Rule 10b5-1 Plan regulatory
"Transaction pursuant to the Reporting Person's 10b5-1 Plan dated 05/23/2025."
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
Restricted Stock Units financial
"security_title: Restricted Stock Units with 9,818 units converted into Common Stock."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
open-market sale financial
"transaction_action: open-market sale of 12,410 shares of Common Stock."
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
tax withholding financial
"Represents shares withheld from the released share award for the payment of applicable income and payroll withholding taxes."
Tax withholding is the practice of taking a portion of a payment—such as wages, dividends, or sale proceeds—before it reaches the recipient and sending that portion to the tax authority as an advance on the recipient’s eventual tax bill. For investors it matters because withholding reduces immediate cash received and affects after‑tax returns, estimated tax payments, and whether you may owe more or receive a refund when taxes are finally calculated, like having a small automatic savings set aside for your tax bill.
Time-based RSU award financial
"This 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."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did EXTREME NETWORKS INC (EXTR) CFO Kevin Rhodes report?
Kevin Rhodes reported an open-market sale, an RSU conversion, and tax withholding. He sold 12,410 common shares, converted 9,818 restricted stock units into common stock, and had 4,355 shares withheld to cover income and payroll taxes on the RSU release.
Were the EXTREME NETWORKS INC (EXTR) CFO’s transactions under a Rule 10b5-1 plan?
Yes. A footnote states the transactions were pursuant to Kevin Rhodes’ Rule 10b5-1 Plan dated 05/23/2025. Such plans are pre-arranged trading programs that schedule transactions in advance, reducing the significance of trade timing as an informational signal.
What happened to the EXTREME NETWORKS INC (EXTR) CFO’s restricted stock units in this filing?
The filing shows 9,818 restricted stock units converted into common stock at a $0.00 conversion price. A footnote explains the time-based RSU award vests over time, and 49,094 RSUs remain outstanding after this transaction and will continue vesting under that schedule.
AI-generated analysis. How Rhea-AI works. Not financial advice.
