Form 4: Extreme Networks Director Edward H. Kennedy Receives Restricted Stock Units

Director Edward H. Kennedy of Extreme Networks received 13,354 restricted stock units on November 14, 2024, which will vest on the earlier of one year from the grant date or the next annual shareholder meeting.

Summary

• Edward H. Kennedy, a director at Extreme Networks, was granted 13,354 restricted stock units on November 14, 2024.
• These restricted stock units will vest on the earlier of November 14, 2025, or the date of the next annual shareholder meeting, provided that the vesting period is not less than 50 weeks after the grant date.
• The grant was made under the Extreme Networks, Inc. 2013 Equity Incentive Plan.
• The reporting person has direct ownership of the restricted stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine grant of stock units to a director, which is a positive but expected event. It indicates alignment of interests and long-term commitment.

Positives

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

Industry Context

The granting of restricted stock units to directors is a common practice in publicly traded companies to incentivize and align their interests with those of the shareholders.

Comparison to Industry Standards

• Granting restricted stock units to directors is a standard practice across the technology industry, similar to companies like Cisco, Juniper, and Arista Networks.
• The vesting period of one year or the next annual meeting is also typical, aligning with common industry practices for equity compensation.

Stakeholder Impact

• The grant of restricted stock units aligns the director's interests with those of the shareholders, potentially leading to better decision-making.
• The vesting schedule encourages long-term commitment from the director, which can be beneficial for the company's stability.

Key Dates

Keywords

Restricted Stock Units, Equity Incentive Plan, Director, Beneficial Ownership, Vesting, Extreme Networks, EXTR