RHODES KEVIN R 4

What Happened
Kevin R. Rhodes, Chief Financial Officer of Extreme Networks (EXTR), executed an open-market sale and had time‑based RSUs convert to common shares. On 2026-05-14 he sold 12,410 shares at $25.00 each for proceeds of $310,250. On 2026-05-15 a RSU/derivative conversion resulted in 9,818 shares being issued; 4,355 of those shares were withheld to cover taxes (value reported $24.66/share, ~$107,394). Net effect: Rhodes received roughly 5,463 shares from the vesting, and his aggregate position decreased by about 6,947 shares after the transactions.

Key Details

• Transaction dates: 2026-05-14 (open-market sale) and 2026-05-15 (RSU/derivative conversion and tax withholding). Filing date: 2026-05-18 (appears timely).
• Open-market sale: 12,410 shares @ $25.00 = $310,250 (reported as pursuant to a 10b5-1 plan).
• RSU conversion: 9,818 shares acquired (exercise/conversion code M) on 2026-05-15.
• Tax withholding: 4,355 shares withheld @ $24.66 = $107,394 (reported as share withholding to satisfy income/payroll tax).
• Net share change from these transactions: -6,947 shares (sold 12,410, net +5,463 retained from vesting).
• Footnotes: F1 = sale pursuant to a 10b5-1 plan dated 05/23/2025; F2 = shares withheld to cover taxes; F3 = time‑based RSU vesting schedule (1/3 at 1 year, then 1/12 each quarter).

Context

• The May 15 entries reflect conversion/vesting of RSUs (derivative conversion) and a standard tax-withholding share disposition rather than a separate open-market sale. The 10b5-1 plan explains the May 14 sale as an already‑scheduled trade.
• These transactions are routine insider activity (scheduled sale + RSU vesting and withholding) and are factual disclosures, not statements of motivation.