Form 4: Extreme Networks Director John C. Shoemaker Acquires Restricted Stock Units

Director John C. Shoemaker of Extreme Networks acquired 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

• John C. Shoemaker, a director at Extreme Networks, acquired 13,354 restricted stock units on November 14, 2024.
• These restricted stock units were granted under the company's 2013 Equity Incentive Plan.
• The 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 securities for these units are 13,354 shares of Extreme Networks common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard equity grant to a director, which is a positive sign of alignment between management and shareholders. It is a routine event and does not indicate any significant positive or negative sentiment.

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.

Future Outlook

The restricted stock units will vest based on the vesting schedule, which is tied to the director's continued service and the company's annual meeting schedule.

Industry Context

This type of equity grant is a common practice in the technology industry to incentivize and retain key personnel, such as directors.

Comparison to Industry Standards

• Equity grants, such as restricted stock units, are a standard form of compensation for directors in publicly traded companies, particularly in the technology sector.
• Companies like Cisco, Juniper Networks, and Arista Networks also use similar equity-based compensation plans for their directors and executives.
• The vesting period of one year or the next annual meeting is also a typical vesting schedule for these types of grants.

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 benefit the company and its stakeholders.

Key Dates

Keywords

restricted stock units, equity incentive plan, director, beneficial ownership, stock grant, vesting, Extreme Networks