MEYERCORD EDWARD 4

What Happened
Edward Meyercord, President & CEO of Extreme Networks (EXTR), exercised 50,000 stock options on July 1, 2026 (exercise price $6.70), paying $335,000, and concurrently sold 50,000 shares in an open‑market transaction for a weighted average price of $31.71, generating about $1,585,500 in proceeds. The filing also reports a derivative disposition of 50,000 shares at $0.00 (reporting treatment related to the option exercise). The transactions were executed under a 10b5‑1 plan.

Key Details

• Transaction date: 2026-07-01; Form 4 filed 2026-07-02 (not marked late).
• Exercise: 50,000 options exercised at $6.70 per share — cost $335,000 (transaction code M).
• Sale: 50,000 shares sold, weighted average price $31.71 — proceeds ~$1,585,500 (transaction code S). Sales occurred at prices ranging $31.41–$32.39 (footnote).
• Reported net proceeds (sale minus exercise cost): approx. $1,250,500 before taxes/fees.
• Shares owned after transaction: Not stated in the filing.
• Footnotes: Transactions were pursuant to a 10b5‑1 plan dated 08/28/2025; weighted‑avg sale price reported with range; the option grant vests over time (vested schedule noted).

Context
The M code indicates an option exercise; because an equal number of shares were immediately sold, this appears to be a cashless or simultaneous exercise-and-sell execution commonly used to cover exercise costs and taxes. Sales done under a 10b5‑1 plan are pre‑arranged and are generally treated as routine insider dispositions rather than ad hoc market timing.