SANTA CLARA, Calif. -- Extreme Networks, Inc. (Nasdaq: EXTR - News) today announced an update on the on-going, previously-announced, internal review being conducted by a special committee of the Company's Board of Directors of historical stock option grants and related accounting.

Based on that on-going review, the Company has reached a preliminary conclusion that the appropriate measurement dates for financial accounting purposes of certain stock option grants differ from the recorded grant dates of those awards. The evaluation of the accounting impact resulting from the change in measurement dates for those stock option grants is still on-going. However, the Company and the Audit Committee have concluded, after consultations with management and independent advisors, that additional non-cash charges for stock-based compensation expense will be required that will be material with respect to certain fiscal periods.

Extreme Networks Inc. (Nasdaq: EXTR)