SEC FORM 3 SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Cleaver Matthew Howard

(Last) (First) (Middle)
6480 VIA DEL ORO

(Street)
SAN JOSE CA 95119

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
09/13/2018
3. Issuer Name and Ticker or Trading Symbol
EXTREME NETWORKS INC [ EXTR ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Interim CFO
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 11,037 D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) 02/07/2015 02/07/2021 Common Stock 1,875 5.67 D
Performance Shares 08/29/2017(1) 08/29/2019 Common Stock 5,253 0.0 D
Performance Shares 08/23/2018(2) 08/23/2020 Common Stock 8,650 0.0 D
Performance Shares 08/31/2019(3) 08/29/2021 Common Stock 9,158 0.0 D
RSU Award 08/29/2017(4) 08/29/2019 Common Stock 5,253 0.0 D
RSU Award 08/23/2018(5) 08/23/2020 Common Stock 5,769 0.0 D
RSU Award 08/31/2019(6) 08/29/2021 Common Stock 9,158 0.0 D
Explanation of Responses:
1. Performance grants were earned when EXTR shares reached $5.00 per share for 30 consecutive trading days after January 1st 2017. Earned shares vest as to 1/3 on the one year anniversary date and 1/12 each quarter thereafter.
2. Performance Stock Unit will be earned if GAAP combined earnings per share meets or exceeds $0.32 over two consecutive quarters. Earned shares vest as to 1/3 on 8/23/2018 and 1/12 each quarter thereafter, provided, however, that shares earned after the one-year anniversary will vest ratably based on the time elapsed from 8/31/2018 until the hurdle date, and then quarterly thereafter. Shares will be cancelled if goal is not met by August 23st 2020.
3. Performance Stock Unit will be earned if GAAP combined earnings per share meets or exceeds $0.20 over two consecutive quarters. Earned shares vest as to 1/3 on 8/31/2019 and 1/12 each quarter thereafter, provided, however, that shares earned after the one-year anniversary will vest ratably based on the time elapsed from 8/31/2018 until the hurdle date, and then quarterly thereafter. Shares will be cancelled if goal is not met by August 31st 2021.
4. This Time Based RSU award vests 1/3 on 8/29/2017 and 1/12 each quarter thereafter.
5. This Time Based RSU award vests 1/3 on 8/23/2018 and 1/12 each quarter thereafter.
6. This Time Based RSU award vests 1/3 on 8/31/2019 and 1/12 each quarter thereafter.
Quentin Wright, Power of Attorney 09/19/2018
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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