MEYERCORD EDWARD 4

What Happened
Edward Meyercord, President and CEO of Extreme Networks (EXTR), exercised stock options to acquire 50,000 shares at $6.70 per share (cost $335,000) and sold 50,000 shares in an open-market transaction on March 2, 2026 for weighted average proceeds of about $697,205. The Form 4 also reports a separate derivative conversion/disposition of 50,000 shares at $0.00. The combined activity effectively looks like a cashless exercise (exercise followed by sale).

Key Details

• Transaction date: 2026-03-02; Form 4 filed 2026-03-03 (filed the next day, timely).
• Exercise (code M): 50,000 shares acquired at $6.70/share (total cost $335,000).
• Sale (code S): 50,000 shares sold; weighted average sale price $13.94/share; total proceeds $697,205. Sales occurred in multiple trades at prices ranging $13.57–$14.25 (footnote F2).
• Derivative entry (code M): 50,000 shares reported disposed at $0.00 (see footnote F3 on vesting).
• 10b5-1 plan: Transactions were made under a 10b5-1 trading plan adopted 08-28-2025 (footnote F1).
• Shares owned after transaction: Not specified in this filing.
• Transaction codes: M = option exercise/conversion, S = sale.

Context
The filing notes these were time-based options (footnote F3) that vested over time; the immediate sale of exercised shares is a common way to cover exercise costs and taxes (a cashless exercise). The sale was executed under a pre-existing 10b5-1 plan, which can structure timing of trades. Sales by executives are common and do not, by themselves, indicate company outlook—purchases tend to be more informative for bullish signals.