Sec Form 4 Filing - Starboard Value LP @ EXTREME NETWORKS INC - 2013-03-15

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Starboard Value LP
2. Issuer Name and Ticker or Trading Symbol
EXTREME NETWORKS INC [ EXTR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) X __ Other (specify below)
See Footnote 1.
(Last) (First) (Middle)
830 THIRD AVENUE, 3RD FLOOR,
3. Date of Earliest Transaction (MM/DD/YY)
03/15/2013
(Street)
NEW YORK, NY10022
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, $0.001 Par Value ( 1 ) ( 2 ) 03/15/2013 S 85,234 D $ 3.5642 6,574,763 I By Starboard Value and Opportunity Master Fund Ltd ( 3 )
Common Stock, $0.001 Par Value ( 1 ) ( 2 ) 03/15/2013 S 32,187 D $ 3.5642 2,482,881 I By Starboard Value and Opportunity S LLC ( 4 )
Common Stock, $0.001 Par Value ( 1 ) ( 2 ) 03/15/2013 S 2,879 D $ 3.5642 222,056 I By Managed Account of Starboard Value LP ( 5 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Starboard Value LP
830 THIRD AVENUE, 3RD FLOOR
NEW YORK, NY10022
X See Footnote 1.
Starboard Value GP LLC
830 THIRD AVENUE, 3RD FLOOR
NEW YORK, NY10022
X See Footnote 1.
STARBOARD VALUE & OPPORTUNITY S LLC
830 THIRD AVENUE, 3RD FLOOR
NEW YORK, NY10022
X See Footnote 1.
Starboard Principal Co LP
830 THIRD AVENUE, 3RD FLOOR
NEW YORK, NY10022
X See Footnote 1.
Starboard Principal Co GP LLC
830 THIRD AVENUE, 3RD FLOOR
NEW YORK, NY10022
X See Footnote 1.
Smith Jeffrey C
C/O STARBOARD VALUE LP
830 THIRD AVENUE, 3RD FLOOR
NEW YORK, NY10022
X See Footnote 1.
MITCHELL MARK R
C/O STARBOARD VALUE LP
830 THIRD AVENUE, 3RD FLOOR
NEW YORK, NY10022
X See Footnote 1.
Feld Peter A
C/O STARBOARD VALUE LP
830 THIRD AVENUE, 3RD FLOOR
NEW YORK, NY10022
X See Footnote 1.
STARBOARD VALUE & OPPORTUNITY MASTER FUND LTD
830 THIRD AVENUE, 3RD FLOOR
NEW YORK, NY10022
X See Footnote 1.
Signatures
Starboard Value LP; By: Starboard Value GP LLC; By: /s/ Jeffrey C. Smith, Authorized Signatory 03/18/2013
Signature of Reporting Person Date
Starboard Value and Opportunity Master Fund Ltd; By: Starboard Value LP; By: /s/ Jeffrey C. Smith, Authorized Signatory 03/18/2013
Signature of Reporting Person Date
Starboard Value and Opportunity S LLC; By: Starboard Value LP; By: /s/ Jeffrey C. Smith, Authorized Signatory 03/18/2013
Signature of Reporting Person Date
Starboard Value GP LLC; By: Starboard Principal Co LP; By: /s/ Jeffrey C. Smith, Authorized Signatory 03/18/2013
Signature of Reporting Person Date
Starboard Principal Co LP; By:Starboard Principal Co GP LLC; By: /s/ Jeffrey C. Smith, Authorized Signatory 03/18/2013
Signature of Reporting Person Date
Starboard Principal Co GP LLC; By: /s/ Jeffrey C. Smith, Authorized Signatory 03/18/2013
Signature of Reporting Person Date
By: /s/ Jeffrey C. Smith 03/18/2013
Signature of Reporting Person Date
Mark R. Mitchell; By: /s/ Jeffrey C. Smith, Attorney in Fact 03/18/2013
Signature of Reporting Person Date
Peter A. Feld; By: /s/ Jeffrey C. Smith, Attorney in Fact 03/18/2013
Signature of Reporting Person Date
Explanation of Responses:
( 1 )This Form 4 is filed jointly by Starboard Value and Opportunity Master Fund Ltd ("Starboard V&O Fund"), Starboard Value and Opportunity S LLC ("Starboard LLC"), Starboard Value LP ("Starboard Value LP"), Starboard Value GP LLC ("Starboard Value GP"), Starboard Principal Co LP ("Principal Co"), Starboard Principal Co GP LLC ("Principal GP"), Jeffrey C. Smith, Mark Mitchell and Peter A. Feld (collectively, the "Reporting Persons"). As of March 15, 2013, the Reporting Persons ceased to own in the aggregate more than 10% of the Issuer's outstanding shares of Common Stock.
( 2 )Each Reporting Person, as a member of a "group" with the other Reporting Persons for the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, may be deemed the beneficial owner of the Shares directly owned by the other Reporting Persons. Each Reporting Person disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such shares of Common Stock for purposes of Section 16 or for any other purpose.
( 3 )Shares of Common Stock beneficially owned by Starboard V&O Fund. Starboard Value LP, as the investment manager of Starboard V&O Fund, may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by Starboard V&O Fund. Each of Starboard Value GP, as the general partner of Starboard Value LP, Principal Co, as a member of Starboard Value GP, Principal GP, as the general partner of Principal Co and Messrs. Smith, Mitchell and Feld as members of Principal GP and as members of each of the Management Committee of Starboard Value GP and the Management Committee of Principal GP, may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by Starboard V&O Fund.
( 4 )Shares of Common Stock beneficially owned by Starboard LLC. Starboard Value LP, as the manager of Starboard LLC, may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by Starboard LLC. Each of Starboard Value GP, as the general partner of Starboard Value LP, Principal Co, as a member of Starboard Value GP, Principal GP, as the general partner of Principal Co and Messrs. Smith, Mitchell and Feld as members of Principal GP and as members of each of the Management Committee of Starboard Value GP and the Management Committee of Principal GP, may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by Starboard LLC.
( 5 )Shares held in an account managed by Starboard Value LP. Starboard Value GP, as the general partner of Starboard Value LP, Principal Co, as a member of Starboard Value GP, Principal GP, as the general partner of Principal Co and Messrs. Smith, Mitchell and Feld as members of Principal GP and as members of each of the Management Committee of Starboard Value GP and the Management Committee of Principal GP, may be deemed to be the beneficial owner of the shares of Common Stock beneficially owned by Starboard Value LP.

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 4(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).

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