Extreme Networks (EXTR) Form 4: Executive Vesting and Withheld Shares at $19.72

Rhea-AI Filing Summary

Kevin R. Rhodes, EVP & Chief Financial Officer of Extreme Networks (EXTR), reported multiple equity transactions on 08/15/2025. The filing shows issuance and vesting of time‑based restricted stock units totaling 147,0xx shares (39,216 released plus 107,758 newly awarded) and performance shares totaling 78,510 underlying shares (two 39,255 tranches, one earned and one released). Some released shares were withheld to cover taxes (17,412 and 17,430) at a reported price of $19.72. Total reported common stock beneficially owned after transactions ranges from 78,549 to 157,632 across entries, and the Form 4 is signed under power of attorney dated 08/18/2025.

Positive

• Material awards vested: Time-based RSUs and performance shares were released, increasing reported holdings for the CFO.
• Performance certification: Compensation Committee certified attainment for a performance tranche, resulting in issuance of 39,255 shares.
• Transparent tax handling: Shares withheld and reported amounts (17,412 and 17,430) show routine tax-withholding mechanics.

Negative

• Share withholding reduces free-floating holdings: 17,412 and 17,430 shares were withheld to cover taxes, lowering the CFO's net received shares.

Insights

Securities Analyst

TL;DR: Routine executive compensation vesting and tax-withholding sales; no evidence of unusual trading.

The Form 4 records time-based RSU vesting and performance-based awards for the CFO, with tranche certification and release on 08/15/2025. Withholdings of 17,412 and 17,430 shares at $19.72 were used to satisfy taxes, which is a common administrative step and not an active market sell indication. Beneficial ownership totals reported vary by entry due to overlapping awards and withheld shares. This disclosure is material for ownership tracking but does not indicate a change in corporate control or debt/equity structure.

Corporate Governance Expert

TL;DR: Compensation committee-certified performance award and scheduled vesting documented; governance processes apparent.

The filing explicitly notes Compensation Committee certification of a performance tranche granted 08/15/2024 and certified on 08/15/2025, triggering issuance of 39,255 performance shares. Time-based RSU vesting schedules are reiterated. Use of ESPP purchase (516 shares) and tax-withholding mechanics are disclosed. These elements reflect standard executive compensation administration and committee oversight without disclosed governance concerns.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

RHODES KEVIN R

(Last) (First) (Middle)

2121 RDU CENTER DR.

(Street)

MORRISVILLE NC 27560

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
EXTREME NETWORKS INC [ EXTR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/15/2025		M		39,216	A	$0	135,789(1)	D
Common Stock	08/15/2025		F		17,412(2)	D	$19.72	118,377	D
Common Stock	08/15/2025		M		39,255	A	$0	157,632	D
Common Stock	08/15/2025		F		17,430(2)	D	$19.72	140,202	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	$0	08/15/2025		M			39,216	08/15/2025(3)	08/15/2027	Common Stock	39,216	$0	78,549	D
Restricted Stock Units	$0	08/15/2025		A		107,758		08/15/2026(3)	08/15/2028	Common Stock	107,758	$0	107,758	D
Performance Shares	$0	08/15/2025		A		39,255		08/15/2025(4)	08/15/2027	Common Stock	39,255	$0	39,255	D
Performance Shares	$0	08/15/2025		M			39,255	08/15/2025(4)	08/15/2027	Common Stock	39,255	$0	0	D

Explanation of Responses:

1. An additional 516 shares are included in this total, reflecting non-reportable purchase of 516 shares in connection with the Company's Employee Stock Purchase Plan (ESPP).

2. Represents shares withheld from the released share award for the payment of applicable income and payroll withholding taxes due on release.

3. 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.

4. Represents one tranche of a performance award granted on 08/15/2024. The amount earned was subject to attainment of certain performance conditions and certification thereof by the Compensation Committee, which certification occurred on 08/15/2025.

	/s/ Katayoun ("Katy") Motiey, Power of Attorney for Kevin R. Rhodes	08/18/2025
	** Signature of Reporting Person	Date
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FAQ

What securities did Kevin R. Rhodes receive on 08/15/2025 for EXTR?

The filing shows release/issuance of 39,216 time‑based RSUs, 107,758 newly awarded RSUs, and performance shares totaling 78,510 (two tranches of 39,255).

Were any shares sold in the transactions reported on Form 4 for EXTR?

No open-market sale is reported; however, 17,412 and 17,430 shares were withheld from awards to satisfy income and payroll tax withholding at a price of $19.72.

Did the Compensation Committee certify any awards for EXTR?

Yes. The filing states the Compensation Committee certified attainment for a performance award granted 08/15/2024, resulting in issuance of 39,255 performance shares on 08/15/2025.

How much common stock does the filing show the reporting person beneficially owned after the transactions?

Reported beneficial ownership amounts after transactions vary by entry, including figures such as 78,549, 118,377, 135,789, 140,202, and 157,632 as shown in the table.

Was any Employee Stock Purchase Plan (ESPP) activity disclosed?

Yes. The summary notes an additional 516 shares included from a non‑reportable ESPP purchase.