EXTREME NETWORKS INC
For the period ended Mar 31, 2026. Filed Apr 30, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed Apr 30, 2026
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
There were no sales of unregistered equity securities during the three months ended March 31, 2026.
The following table provides stock repurchase activity during the three months ended March 31, 2026 (in thousands, except per share amounts):
| Approximate Dollar Value | ||||||||
|---|---|---|---|---|---|---|---|---|
| Total · Average · Total Number of Shares · of Shares | ||||||||
| Number of · Price Paid · Purchased as Part of · That May Yet Be Purchased | ||||||||
| Shares · per Share · Publicly Announced · Under the Plans or Programs | ||||||||
| Purchased | (2) (3) | Plans or Programs | (1) (2) (3) | |||||
| Beginning amount available to repurchase | $188,000 | |||||||
| January 1, 2026 - January 31, 2026 | — | $— | — | 188,000 | ||||
| February 1, 2026 - February 28, 2026 | 2,958 | 14.58 | 2,958 | 144,879 | ||||
| March 1, 2026 - March 31, 2026 | — | — | — | 144,879 | ||||
| Total | 2,958 | $14.58 | 2,958 | |||||
| Remaining amount available for repurchase(2) | $138,000 | |||||||
(1)
On February 18, 2025, the Company announced that the Board had authorized management to repurchase up to $200.0 million of shares of the Company’s common stock over a three-year period, commencing July 1, 2025 (the “2025 Repurchase Program”). Refer to Note 9, Stockholders’ Equity, in the Notes to Condensed Consolidated Financial Statements included elsewhere in this Report for further information regarding the 2025 Repurchase Program.
(2)
On January 30, 2026, the Company entered into an accelerated share repurchase agreement (the “2026 ASR”) to repurchase shares of the Company’s common stock as part of the 2025 Repurchase Program. Pursuant to the 2026 ASR and during the three months ended March 31, 2026, the Company paid $50.0 million for an initial delivery of 2,957,550 shares valued at $43.1 million with an average price of $14.58 per share. The remaining balance of $6.9 million was recorded in“Additional paid-in capital” as a forward contract in the Company’s common stock. The forward contract was settled on April 24, 2026 and the Company received an additional 342,257 shares of its common stock. The current balance remaining of $138.0 million reflects the full $50.0 million payment under the 2026 ASR.
(3)
The aggregate price and the average price per share do not include the effect of the excise tax under the provisions of the Inflation Reduction Act.
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