Form 4: Extreme Networks Director Sells Shares Under Pre-Arranged 10b5-1 Plan

Raj Khanna, a Director at Extreme Networks Inc. (EXTR), sold a total of 10,000 shares of common stock through a pre-arranged 10b5-1 trading plan on June 23 and June 24, 2025.

Summary

• Raj Khanna, a Director of Extreme Networks Inc. (EXTR), executed sales of common stock.
• The transactions were conducted pursuant to a Rule 10b5-1 trading plan established on March 3, 2025.
• On June 23, 2025, 7,973 shares were sold at a weighted average price of $17.2035 per share, with prices ranging from $17.20 to $17.2050.
• On June 24, 2025, an additional 2,027 shares were sold at a weighted average price of $17.4346 per share, with prices ranging from $17.3950 to $17.450.
• Following these transactions, Mr. Khanna indirectly beneficially owns 231,708 shares of common stock through The Khanna 2002 Revocable Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While an insider sale reduces ownership, the fact that it was conducted under a pre-arranged 10b5-1 plan mitigates any negative implications, as it suggests a planned financial management activity rather than a reaction to adverse company news.

Negatives

• The sale of shares by a director, even under a 10b5-1 plan, reduces insider ownership in the company.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance.

Management Comments

• The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.20 to $17.2050 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
• The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.3950 to $17.450 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Industry Context

This Form 4 filing details an individual insider transaction and does not provide information relevant to broader industry trends or competitive analysis.

Related Party Transactions

• Shares are held indirectly in The Khanna 2002 Revocable Trust, where Raj Khanna and Madhu Khanna serve as Trustees.

Stakeholder Impact

• Shareholders may note a slight reduction in direct insider ownership, though the pre-planned nature of the sale under a 10b5-1 plan typically minimizes concerns.

Key Dates

Keywords

Extreme Networks, EXTR, Raj Khanna, Director, Insider Trading, Form 4, SEC Filing, Stock Sale, 10b5-1 Plan, Common Stock