A maker of cloud networking gear and software, Extreme Networks helps businesses, schools, and hospitals run their Wi-Fi and wired networks, with tools like its ExtremeCloud IQ management platform and AI-powered Extreme Platform ONE. Founded in 1996 in California by three networking engineers, the company chose its name to signal its focus on "extreme" performance and speed. It also provides the official stadium Wi-Fi for both the NFL and MLB, keeping fans connected at games.
On July 29, 2026, Extreme Networks entered a new 5-year $500 million revolving credit facility with JPMorgan Chase Bank as administrative agent.
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The new facility replaces the existing credit agreement with Bank of Montreal, which was terminated and all outstanding indebtedness repaid on the closing date.
As of the closing date, $200 million was drawn under the new facility, leaving $300 million available for borrowing.
The facility includes an uncommitted accordion feature allowing incremental commitments up to $175 million or 100% of Consolidated EBITDA, plus other amounts.
Financial covenants require a minimum consolidated interest charge coverage ratio of 3.00 to 1.00 and a maximum consolidated total net leverage ratio of 3.75 to 1.00, effective from the fiscal quarter ending September 30, 2026.
1.01 Entry into a Material Definitive Agreement · 1.02 Termination of a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 9.01 Financial Statements and Exhibits
Extreme Networks appoints Ron Pasek to its Board of Directors, effective January 5, 2026.
Pasek will receive standard non-employee director compensation, including a pro-rata portion of the $110,000 annual retainer.
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Ron Pasek was appointed to the Board of Directors of Extreme Networks, Inc. on January 5, 2026, effective immediately.
He may also receive pro-rata committee fees of $12,500 (Audit), $10,000 (Compensation), or $5,000 (Nominating and Corporate Governance) if appointed to those committees.
Pasek received a restricted stock unit award of 11,075 shares under the 2013 Equity Incentive Plan, vesting by the earlier of the next annual meeting or November 12, 2026.
Pasek entered into Extreme's standard director Indemnification Agreement and has no disclosed arrangements or transactions requiring disclosure under Item 404(a).
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements