EXTREME NETWORKS INC — Director's Dealing 2016

Aug 17, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EXTREME NETWORKS INC (EXTR)
CIK: 0001078271
Period of Report: 2016-08-15

Reporting Person: Gault Robert J (EVP Worldwide Sales Services a)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-08-15	Common Stock	F	7440.0	$4.0	Disposed	163144	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-08-15	Performance Shares	$0.0	A	80000.0	Acquired	2019-08-15	Common Stock (80000)	Direct
2016-08-15	RSU Award	$0.0	A	80000.0	Acquired	2019-08-15	Common Stock (80000)	Direct

Footnotes

F1: The reporting person was granted 80,000 RSUs on August 15, 2015, which vest annually over 3 years in equal installments with the first vesting date on August 15, 2016. On August 15, 2016 a total of 27,200 shares vested. 7440 shares represents the aggregate number of shares of Issuer common stock withheld for payment of the tax liability incident to the vesting of the RSUs issued in accordance with Rule 16b-3.

F2: Performance based RSU shares vest once the Company's stock equals or exceeds $5.00 for 30 consecutive trading days after January 1, 2017 ("Performance Threshold"). Once Performance Threshold is satisfied the Performance-Based RSUs shall vest with respect to the number of Time-Based RSUs that have vested as of the date the Performance Threshold is satisfied and thereafter shall vest on the same schedule as the Time-Based RSUs (see footnote #4 below). If threshold is not met by the third anniversary of the grant date the award is terminated for no consideration.

F3: Column 8 is not an applicable reportable field.

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.