Extreme Networks Inc SEC Filings

Extreme Networks (EXTR) furnished a Form 8-K announcing it issued a press release with certain financial results for the quarter ended September 30, 2025. The press release is included as Exhibit 99.1.

The company states the information under Item 2.02, including Exhibit 99.1, is furnished, not filed under the Exchange Act and is not incorporated by reference into other SEC filings except as specifically referenced. EXTR’s common stock trades on the NASDAQ Global Select Market.

Extreme Networks reported improved fiscal 2025 financial results and detailed executive and equity compensation policies. Net revenues rose to $1.14 billion, up 2% from fiscal 2024. GAAP gross margin widened to 62.2% (from 56.5%) and non-GAAP gross margin to 62.9% (from 57.2%). The company recorded a GAAP net loss of $7.5 million (loss of $0.06 per share) versus a $86.0 million loss a year earlier, while non-GAAP net income was $112.4 million ($0.84 per share) versus $43.4 million ($0.33). Operating cash flow improved to $152.0 million and cash totaled $231.7 million at June 30, 2025.

The proxy discloses compensation features: director annual RSU awards based on a $215,000 target, CEO and NEO equity mix of PSUs and time-based RSUs, EIP short-term payouts at ~89.9% of target, PSUs tied to TSR vs. the Russell 2000, stock ownership guidelines (CEO 5x salary; other NEOs 2x), claw-back policy, and plan provisions prohibiting single-trigger change-in-control vesting and repricing without shareholder approval.

Kevin R. Rhodes, Executive Vice President and Chief Financial Officer of Extreme Networks (EXTR), reported multiple transactions in the issuer's common stock. On 08/28/2025 he disposed of 14,000 shares at $21.52 per share pursuant to a 10b5-1 plan. On 08/30/2025 he acquired 11,860 shares via the release of restricted stock units (RSUs) and had 5,266 shares withheld to cover taxes at $21.38 per share. Following these transactions he beneficially owned 132,796 shares (direct). The RSU release reflects awards granted earlier with a vesting schedule noted in the filing.

Form 144 notice for EXTR (Extreme Networks) reports a proposed sale of 14,000 common shares held in a brokerage account at Fidelity Brokerage Services. The filing lists an aggregate market value of $301,280 and shows the company's shares outstanding as 132,209,606. The shares were acquired as restricted stock units (RSUs) on December 20, 2023, with payment dated the same day. The filing indicates an approximate sale date of August 28, 2025 and names NASDAQ as the exchange. No other sales in the past three months are reported and the filer affirms the absence of undisclosed material adverse information.

Raj Khanna, a director of Extreme Networks, reported the sale of 15,000 shares of Common Stock on 08/21/2025 under a 10b5-1 trading plan. The shares were sold at a weighted average price of $19.9124 per share (individual trades ranged $19.725 to $20.055). After the sale, the reporting person beneficially owned 216,708 shares indirectly through The Khanna 2002 Revocable Trust. The Form 4 was signed by a power of attorney on 08/22/2025.

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.

Katayoun Motiey, Chief Legal Admin Sust Officer of Extreme Networks, reported changes in beneficial ownership on 08/15/2025 related to vesting of restricted stock units and performance shares and related tax-withholdings. Multiple transactions show acquisitions of vested awards at $0 (time-based RSUs and performance shares) and dispositions via share withholding to cover taxes at a price of $19.72 per share. Shares are held indirectly in The Katayoun Motiey Trust U/A DTD 8/26/2011. The filing lists post-transaction beneficial ownership amounts for common stock ranging up to 196,630 shares in some lines and documents certification by the Compensation Committee for performance tranches on 8/15/2025. The form is signed by Ms. Motiey on 08/18/2025.

Ed Meyercord, President & CEO and Director of Extreme Networks (EXTR), reported multiple share transactions on 08/15/2025. The Form 4 shows a series of issuances and tax-withholdings tied to restricted stock units and performance shares, resulting from vesting and committee certification of performance awards. After the reported transactions his direct beneficial ownership increased to 1,928,825 shares at the high point reported and reflects consolidated totals after withholding and release events.

The filing records awards delivered at $0 (RSU and performance share releases) and share-withholdings to satisfy payroll and income taxes at an effective disposal price of $19.72 per share for multiple withholding transactions. A power of attorney signature was provided by Katayoun Motiey on 08/18/2025.

Extreme Networks (EXTR) discloses selected annual-report notes describing its revenue recognition, warranty and channel practices, capitalized commissions, leasing and hedging, credit facilities, restructuring charges, stock plans and tax attributes. The company capitalized commissions of $26.9 million and $24.7 million at June 30, 2025 and 2024, amortizing them over ~three years with amortization of $12.5 million, $10.9 million and $9.1 million for fiscal 2025, 2024 and 2023. The 2023 revolving credit facility provides up to $180.0 million with incremental capacity to $100.0 million; SOFR margins vary by leverage with an effective interest rate of 6.43% in 2025 (7.44% in 2024). Restructuring and related charges increased to $11.1 million in fiscal 2025 (prior year changes noted). A full valuation allowance exists against U.S. federal and state deferred tax assets; U.S. federal NOLs of $8.7 million and state NOLs of $121.1 million are disclosed, along with foreign NOLs and R&D tax credits. Equity plans and share authorizations, outstanding awards, and MSU details are disclosed, and the 2022 repurchase program expired June 30, 2025.