Form 4: Extreme Networks Director John C. Shoemaker Reports Stock Transactions

Director John C. Shoemaker reports the vesting of restricted stock units and subsequent conversion to common stock held indirectly through a trust.

Summary

• On November 8, 2024, John C. Shoemaker, a director of Extreme Networks Inc., reported a transaction involving restricted stock units (RSUs).
• 12,975 RSUs vested and were converted into 12,975 shares of common stock.
• The transaction was executed under the company's 2013 Equity Incentive Plan.
• Following the transaction, Shoemaker indirectly owns 561,791 shares of Extreme Networks common stock through the Shoemaker Living Trust.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions by a company director, indicating a neutral sentiment.

Future Outlook

The vesting of RSUs is governed by the Extreme Networks, Inc. 2013 Equity Incentive Plan, with vesting occurring on the earlier of the one-year anniversary of the grant date or the next annual meeting of shareholders, provided the vesting period is not less than 50 weeks after the grant.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices through equity-based awards.

Stakeholder Impact

• The transaction has a minor dilutive effect on existing shareholders due to the issuance of new shares.

Key Dates