MEYERCORD EDWARD 4

What Happened
Edward Meyercord, President & CEO of Extreme Networks (EXTR), exercised 50,000 stock options on Feb 2, 2026 at an exercise price of $6.70 per share (cost = $335,000) and sold 50,000 common shares in an open-market transaction the same day for a weighted-average price of $14.91 per share (gross proceeds ≈ $745,340). The filing also reports the derivative conversion/settlement related to the exercised options (derivative disposal at $0), consistent with converting options into shares and then selling them.

Key Details

• Transaction date: 2026-02-02 (reported on Form 4 filed 2026-02-03 — timely).
• Exercise: 50,000 shares acquired via option exercise @ $6.70 = $335,000 total.
• Sale: 50,000 shares sold in open market @ weighted avg $14.91 = $745,340 gross proceeds. Sales executed at prices ranging from $14.51 to $15.12 per share (weighted average reported).
• Derivative entry: 50,000-option settlement reported as disposed @ $0 (shows conversion/settlement of options).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Plan/notes: Sale was executed under a 10b5-1 trading plan adopted 08-28-2025 (footnote). Option grant was time-based (vested 1/4 on 8/31/2020 and 1/16 each quarter thereafter).

Context

• This is effectively a cashless exercise: options were exercised and the resulting shares were sold the same day, producing gross proceeds substantially higher than the exercise cost (approximate pre-tax gain ≈ $410K).
• The presence of a 10b5-1 plan suggests the sale may have been pre-arranged according to a trading plan adopted August 28, 2025.
• These transactions are routine insider exercises and sales; they are factual disclosures and do not by themselves indicate the insider’s broader view of the company.