If $0\rightarrow F\rightarrow G\rightarrow H \rightarrow 0$ is an extension of $\mathcal{O}$-modules with $F$ and $G$ locally free (each of constant finite rank, i.e. vector bundles), then is $H$ locally free? The same question can be asked with the roles of $F$, $G$, and $H$ interchanged, too.
In other words, is a quotient of a locally free sheaf by a subsheaf locally free?