UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(b) Effective Wednesday, January 29, 2020, Robert Gault will no longer serve as the Chief Revenue and Services Officer of Extreme Networks, Inc. (the “Company”).
(e) The Company and Mr. Gault entered into a Separation Agreement under which Mr. Gault will cease to serve as the Company’s Chief Revenue and Services Officer effective January 29, 2020 but continue to provide services to the Company through his separation date of March 1, 2020. In connection with entering into the Separation Agreement and Mr. Gault providing a general release of claims against the Company and its affiliates, Mr. Gault is entitled to a lump sum cash payment of $25,000. Additionally, the Separation Agreement provides that if Mr. Gault provides transition services to the Company through the March 1, 2020 separation date and provides another general release of claims against the Company and its affiliates in connection with his separation, Mr. Gault will be entitled to a lump sum cash payment of $433,689.80, as detailed and specifically set forth in the agreement. The foregoing description of the Separation Agreement is qualified in its entirety by reference to the full text of the Separation Agreement, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the three months ending December 31, 2019.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. |
Description | |||
| 104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: January 29, 2020
| EXTREME NETWORKS, INC. | ||
| By: |
/s/ KATY MOTIEY | |
| Katy Motiey | ||
| Chief Administrative Officer | ||