MOTIEY KATAYOUN 4
4 · EXTREME NETWORKS INC · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
Extreme Networks (EXTR) Chief Legal Officer Motiey Exercises RSUs
What Happened
Katayoun Motiey, Chief Legal, Administrative & Sustainability Officer at Extreme Networks (EXTR), had time‑based restricted stock units (RSUs) convert to 8,215 shares on 2026-02-15. The RSUs converted at no exercise price (treated as derivative conversion). To cover applicable income/payroll taxes, 3,663 of those shares were withheld at $14.46 each (total withheld value $52,967), leaving a net issuance of 4,552 shares to Motiey (net value ≈ $65,822).
Key Details
- Transaction date reported: 2026-02-15; Form 4 filed 2026-02-17 (timely).
- Conversion/exercise entries: 2,604 and 5,611 shares converted (total 8,215) at $0.00 (M code).
- Tax withholding (F code): 1,161 and 2,502 shares withheld at $14.46 each (total 3,663 shares; $16,788 + $36,179 = $52,967).
- Gross value of shares released: 8,215 × $14.46 ≈ $118,789; net value retained ≈ $65,822.
- Footnotes: 1,220 additional shares from the company ESPP are included in reported totals (non‑reportable ESPP purchase); shares are held in The Katayoun Motiey Trust; withholding reflects shares retained to pay income/payroll taxes; the award vests per the original time‑based RSU schedule (1/3 at year one, then 1/12 each quarter).
- Filing does not report a total post‑transaction share count in the provided entries.
Context
This was a routine conversion/release of vested RSUs with tax withholding (cashless settlement), not an open‑market purchase or sale. Such withholdings are common practice to cover tax liabilities and do not by themselves indicate a change in insider sentiment.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-02-15+2,604→ 189,495 total(indirect: By Trust) - Tax Payment
Common Stock
[F3][F2]2026-02-15$14.46/sh−1,161$16,788→ 188,334 total(indirect: By Trust) - Exercise/Conversion
Common Stock
[F2]2026-02-15+5,611→ 193,945 total(indirect: By Trust) - Tax Payment
Common Stock
[F3][F2]2026-02-15$14.46/sh−2,502$36,179→ 191,443 total(indirect: By Trust) - Exercise/Conversion
Restricted Stock Units
[F4]2026-02-15−2,604→ 5,210 totalExercise: $0.00From: 2024-08-15Exp: 2026-08-15→ Common Stock (2,604 underlying) - Exercise/Conversion
Restricted Stock Units
[F4]2026-02-15−5,611→ 33,664 totalExercise: $0.00From: 2025-08-15Exp: 2027-08-15→ Common Stock (5,611 underlying)
Footnotes (4)
- [F1]An additional 1,220 shares are included in this total, reflecting non-reportable purchase of 1,220 shares in connection with the Company's Employee Stock Purchase Plan (ESPP).
- [F2]Shares are held in The Katayoun Motiey Trust U/A DTD 8/26/2011
- [F3]Represents shares withheld from the released share award for the payment of applicable income and payroll withholding taxes due on release.
- [F4]This Time-based RSU award vests from the original grant date as to 1/3 on the one year anniversary and 1/12 each quarter thereafter.