Form 4: Extreme Networks Director Charles Carinalli Awarded Restricted Stock Units

Director Charles Carinalli of Extreme Networks was granted 13,354 restricted stock units, vesting within a year.

Summary

• Charles Carinalli, a director at Extreme Networks, received 13,354 restricted stock units on November 14, 2024.
• These restricted stock units will vest on the earlier of the one-year anniversary of the grant date or the next annual meeting of shareholders, but not less than 50 weeks after the grant date.
• The underlying security for these units is common stock of Extreme Networks.

Sentiment

Score: 7

Explanation: The document reflects a routine compensation practice, which is generally positive for aligning director interests with shareholders. There are no negative implications.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting period encourages long-term commitment from the director.

Future Outlook

The restricted stock units will vest within a year, but not less than 50 weeks after the grant date, aligning the director's interests with the company's long-term performance.

Industry Context

The granting of restricted stock units is a common practice for compensating directors and aligning their interests with the company's performance in the technology sector.

Comparison to Industry Standards

• Granting restricted stock units to directors is a standard practice in the technology industry, similar to companies like Cisco, Juniper, and Arista Networks.
• The vesting period of one year is also typical, aligning with industry norms for long-term incentives.
• The specific number of units granted is dependent on the company's compensation policies and the director's role.

Stakeholder Impact

• The grant of restricted stock units is a positive signal to shareholders, indicating that the director's interests are aligned with the company's long-term success.
• The vesting period encourages the director to remain engaged with the company.

Key Dates

Keywords

Restricted Stock Units, Equity Incentive Plan, Director Compensation, Stock Grant, Beneficial Ownership, Extreme Networks