SCHEDULE 14A INFORMATION UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ____) Filed by the Registrant [X] Filed by a Party other than the Registrant [_] Check the appropriate box: [_] Preliminary Proxy Statement [X] Definitive Proxy Statement [_] Definitive Additional Materials [_] Soliciting Material Pursuant toss. 240.14a-11(c) orss.240.14a-12 [_] CONFIDENTIAL, FOR USE OF THE COMMISSION ONLY (AS PERMITTED BY RULE 14A-6(E)(2)) EXTREME NETWORKS, INC. (Name of Registrant as Specified In Its Charter) Payment of Filing Fee (Check the appropriate box): [X] No Fee required. [_] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. 1) Title of each class of securities to which transaction applies: ---------------------------------------------------------------------- 2) Aggregate number of securities to which transaction applies: ---------------------------------------------------------------------- 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): ---------------------------------------------------------------------- 4) Proposed maximum aggregate value of transaction: ---------------------------------------------------------------------- 5) Total fee paid: ---------------------------------------------------------------------- [_] Fee paid previously with preliminary materials. [_] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. 1) Amount Previously Paid: ---------------------------------------------------------------------- 2) Form, Schedule or Registration Statement No.: ---------------------------------------------------------------------- 3) Filing Party: ---------------------------------------------------------------------- 4) Date Filed: ----------------------------------------------------------------------
EXPLANATORY NOTE The sole purpose of this filing is to correct the data which appears in the Summary Compensation Table on page 9 of our definitive proxy statement. We filed our definitive proxy statement with the Securities and Exchange Commission on October 16, 2001. EXECUTIVE COMPENSATION AND OTHER MATTERS Compensation of executive officers The following table sets forth information concerning the compensation during the fiscal years ended July 1, 2001, July 2, 2000, and June 30, 1999 of the Named Executive Officers. The option numbers have been adjusted to reflect the two-for-one stock split effected in August 2000. Summary Compensation Table Long term Annual compensation compensation -------------------------------------------------------- ---------------- Other annual Awards: option Name and principal position Year Salary Bonus compensation shares (1) - ----------------------------------------- -------- -------------- ---------- ------------ -------------- Gordon L. Stitt.......................... 2001 $ 183,333(2) $ 39,600 (3) 600,000 President, Chief Executive Officer 2000 203,333 176,880 25,383 300,000 and Chairman 1999 164,167 -- (3) 400,000 Stephen Haddock.......................... 2001 $ 166,667(2) $ 24,000 (3) 300,000 Vice President and Chief 2000 168,333 110,880 20,768 170,000 Technical Officer 1999 140,626 -- (3) 270,000 Vito Palermo............................. 2001 $ 220,000 -- (3) 300,000 (Former) Chief Financial Officer 2000 166,666 $ 104,720 14,711 50,000 1999 73,333 40,000 -- 1,000,000 Herb Schneider........................... 2001 $ 183,333(2) $ 26,400 (3) 300,000 Vice President of Engineering 2000 168,333 161,920 17,078 170,000 1999 140,626 -- (3) 270,000 Harry Silverglide........................ 2001 $ 250,000 -- $ 213,960(4) 300,000 Vice President of Sales 2000 163,333 -- 187,710 140,000 1999 150,000 $ 32,125 130,417 160,000 - ---------------------- (1) These options were granted pursuant to our 1996 Stock Option Plan and 1996 Amended Stock Option Plan. (2) As a result of company performance during the current economic downturn, effective May 1, 2001, Messrs. Stitt, Haddock, and Schneider voluntarily agreed to a reduction of their salaries to $1.00 for the remainder of fiscal year 2001 and continuing thereafter for an indeterminate period of time. (3) Total amount of personal benefits paid to this executive officer during the fiscal year was less than the lesser of (i) $50,000 or (ii) 10% of such executive officer's total reported salary and bonus. (4) Other annual compensation includes $213,960 of commissions paid to Mr. Silverglide based on total sales and account wins during the 2001 fiscal year.