CALIX, INC — Director's Dealing 2010

Mar 23, 2010

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: CALIX, INC (CALX)
CIK: 0001406666
Period of Report: 2010-03-23

Reporting Person: Ferris Paul (Director)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Series B Preferred Stock	$0.00		Common Stock (388541)		Indirect
Series B Preferred Stock	$0.00		Common Stock (12901)		Indirect
Series C Preferred Stock	$0.00		Common Stock (132184)		Indirect
Series C Preferred Stock	$0.00		Common Stock (4382)		Indirect
Series D Preferred Stock	$0.00		Common Stock (134)		Indirect
Series D Preferred Stock	$0.00		Common Stock (5816)		Indirect
Series D Preferred Stock	$0.00		Common Stock (233518)		Indirect
Series D Preferred Stock	$0.00		Common Stock (7752)		Indirect
Series E Preferred Stock	$0.00		Common Stock (676)		Indirect
Series E Preferred Stock	$0.00		Common Stock (28508)		Indirect
Series E Preferred Stock	$0.00		Common Stock (1147648)		Indirect
Series E Preferred Stock	$0.00		Common Stock (34900)		Indirect
Series G Preferred Stock	$0.00		Common Stock (94)		Indirect
Series G Preferred Stock	$0.00		Common Stock (1884)		Indirect
Series G Preferred Stock	$0.00		Common Stock (163857)		Indirect
Series G Preferred Stock	$0.00		Common Stock (4977)		Indirect
Series J Preferred Stock	$0.00		Common Stock (277)		Indirect
Series J Preferred Stock	$0.00		Common Stock (5222)		Indirect
Series J Preferred Stock	$0.00		Common Stock (457908)		Indirect
Series J Preferred Stock	$0.00		Common Stock (13564)		Indirect

Footnotes

F1: The shares are immediately convertible.

F2: The shares do not have an expiration date.

F3: Reflects a 2-for-3 reverse stock split of the Issuer's outstanding securities effected immediately prior to the effectiveness of the Issuer's S-1 Registration Statement.

F4: Each share of Series B Preferred Stock will automatically convert on a 8.747-for-1 basis into Common Stock upon the closing of the Issuer's initial public offering.

F5: Shares held by Azure Venture Partners I, L.P.

F6: Shares held by Azure Ventures I, L.P.

F7: Each share of Series C Preferred Stock will automatically convert on a 9.055-for-1 basis into Common Stock upon the closing of the Issuer's initial public offering.

F8: Each share of Series D Preferred Stock will automatically convert on a 4.481-for-1 basis into Common Stock upon the closing of the Issuer's initial public offering.

F9: Shares held by Azure I, L.P.

F10: Shares held by Azure Partners I, L.P.

F11: Each share of Series E Preferred Stock will automatically convert on a 1.026-for-1 basis into Common Stock upon the closing of the Issuer's initial public offering.

F12: Each share of Series G Preferred Stock will automatically convert on a 1.153-for-1 basis into Common Stock upon the closing of the Issuer's initial public offering.

F13: Each share of Series J Preferred Stock will automatically convert on a 1-for-1 basis into Common Stock upon the closing of the Issuer's initial public offering.

F14: The sole general partner of each of Azure Venture Partners I, L.P. and Azure Ventures I, L.P. is Azure Capital Partners VC Administrators, LLC. The sole general partner of each of Azure Partners I, L.P. and Azure I, L.P. is Azure Capital Partners CO Administrators, LLC. The general partners of Azure Capital Partners VC Administrators, LLC and Azure Capital Partners CO Administrators, LLC are Paul Ferris, Michael Kwatinetz, Cameron Lester and Paul Weinstein. These individuals may be deemed to have shared voting and investment power over the shares held by Azure Venture Partners I, L.P., Azure Ventures I, L.P., Azure Partners I, L.P. and Azure I, L.P. Each of these individuals disclaims beneficial ownership of such shares, except to the extent of his or her pecuniary interest therein.