Extreme Networks (EXTR) CEO Edward Meyercord Sells Shares After Option Exercise

What Happened
Edward Meyercord, President, CEO and a director of Extreme Networks, exercised stock options and sold shares on August 3, 2026. He exercised 24,573 options at $6.70 per share (cost $164,639) and sold a total of 50,000 shares in open-market transactions (24,573 shares at a weighted avg $29.78 for $731,902; 25,427 shares at a weighted avg $29.79 for $757,361), producing gross proceeds of about $1,489,263. The exercise and same-day sales indicate the exercised shares were converted and sold the same day.

Key Details

• Transaction date: 2026-08-03; Form 4 filed 2026-08-04 (timely filing).
• Option exercise: 24,573 shares at $6.70 each; cost $164,639.
• Open-market sales: 24,573 shares at $29.78 (weighted avg) and 25,427 shares at $29.79 (weighted avg); combined proceeds ≈ $1,489,263. Per footnotes, sale prices ranged roughly $29.48–$30.07 and $29.50–$30.07 across multiple trades.
• A derivative disposition of 24,573 shares at $0.00 is also reported in connection with the option exercise (reflects conversion/settlement of the derivative).
• These sales were made pursuant to a prearranged 10b5-1 trading plan dated 08/28/2025 (Footnote F1).
• Shares owned after the transaction are not specified in the provided filing.

Context

• This was an options exercise followed by immediate open-market sale (common "exercise and sell" / cashless exercise pattern).
• The trades were executed under a 10b5-1 plan, meaning the sales were prearranged and not necessarily a realtime signal of the insider’s view.
• All figures are from the Form 4 filing; motivations are not stated and should not be inferred.