CALIX, INC — Director's Dealing 2010

Mar 30, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CALIX, INC (CALX)
CIK: 0001406666
Period of Report: 2010-03-26

Reporting Person: Ferris Paul (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-26	Common Stock	C	388541	—	Acquired	388541	Indirect
2010-03-26	Common Stock	C	132184	—	Acquired	520725	Indirect
2010-03-26	Common Stock	C	233518	—	Acquired	754243	Indirect
2010-03-26	Common Stock	C	1147648	—	Acquired	1901891	Indirect
2010-03-26	Common Stock	C	163857	—	Acquired	2065748	Indirect
2010-03-26	Common Stock	C	457908	—	Acquired	2523656	Indirect
2010-03-26	Common Stock	C	12901	—	Acquired	12901	Indirect
2010-03-26	Common Stock	C	4382	—	Acquired	17283	Indirect
2010-03-26	Common Stock	C	7752	—	Acquired	25035	Indirect
2010-03-26	Common Stock	C	34900	—	Acquired	59935	Indirect
2010-03-26	Common Stock	C	4977	—	Acquired	64912	Indirect
2010-03-26	Common Stock	C	13564	—	Acquired	78476	Indirect
2010-03-26	Common Stock	C	134	—	Acquired	134	Indirect
2010-03-26	Common Stock	C	676	—	Acquired	810	Indirect
2010-03-26	Common Stock	C	94	—	Acquired	904	Indirect
2010-03-26	Common Stock	C	277	—	Acquired	1181	Indirect
2010-03-26	Common Stock	C	5816	—	Acquired	5816	Indirect
2010-03-26	Common Stock	C	28508	—	Acquired	34324	Indirect
2010-03-26	Common Stock	C	1884	—	Acquired	36208	Indirect
2010-03-26	Common Stock	C	5222	—	Acquired	41430	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-03-26	Series B Preferred Stock	$	C	44420	Disposed		Common Stock (388541)	Indirect
2010-03-26	Series B Preferred Stock	$	C	1475	Disposed		Common Stock (12901)	Indirect
2010-03-26	Series C Preferred Stock	$	C	14598	Disposed		Common Stock (132184)	Indirect
2010-03-26	Series C Preferred Stock	$	C	484	Disposed		Common Stock (4382)	Indirect
2010-03-26	Series D Preferred Stock	$	C	30	Disposed		Common Stock (134)	Indirect
2010-03-26	Series D Preferred Stock	$	C	1298	Disposed		Common Stock (5816)	Indirect
2010-03-26	Series D Preferred Stock	$	C	52113	Disposed		Common Stock (233518)	Indirect
2010-03-26	Series D Preferred Stock	$	C	1730	Disposed		Common Stock (7752)	Indirect
2010-03-26	Series E Preferred Stock	$	C	659	Disposed		Common Stock (676)	Indirect
2010-03-26	Series E Preferred Stock	$	C	27786	Disposed		Common Stock (28508)	Indirect
2010-03-26	Series E Preferred Stock	$	C	1118566	Disposed		Common Stock (1147648)	Indirect
2010-03-26	Series E Preferred Stock	$	C	34016	Disposed		Common Stock (34900)	Indirect
2010-03-26	Series G Preferred Stock	$	C	82	Disposed		Common Stock (94)	Indirect
2010-03-26	Series G Preferred Stock	$	C	1634	Disposed		Common Stock (1884)	Indirect
2010-03-26	Series G Preferred Stock	$	C	142114	Disposed		Common Stock (163857)	Indirect
2010-03-26	Series G Preferred Stock	$	C	4317	Disposed		Common Stock (4977)	Indirect
2010-03-26	Series J Preferred Stock	$	C	277	Disposed		Common Stock (277)	Indirect
2010-03-26	Series J Preferred Stock	$	C	5222	Disposed		Common Stock (5222)	Indirect
2010-03-26	Series J Preferred Stock	$	C	457908	Disposed		Common Stock (457908)	Indirect
2010-03-26	Series J Preferred Stock	$	C	13564	Disposed		Common Stock (13564)	Indirect

Footnotes

F1: 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.

F2: Each share of Series B Preferred Stock was automatically converted on a 8.747-for-1 basis into Common Stock upon the closing of the Issuer's initial public offering.

F3: Shares held by Azure Venture Partners I, L.P.

F4: Shares held by Azure Ventures I, L.P.

F5: Each share of Series C Preferred Stock was automatically converted on a 9.055-for-1 basis into Common Stock upon the closing of the Issuer's initial public offering.

F6: Each share of Series D Preferred Stock was automatically converted on a 4.481-for-1 basis into Common Stock upon the closing of the Issuer's initial public offering.

F7: Shares held by Azure I, L.P.

F8: Shares held by Azure Partners I, L.P.

F9: Each share of Series E Preferred Stock was automatically converted on a 1.026-for-1 basis into Common Stock upon the closing of the Issuer's initial public offering.

F10: Each share of Series G Preferred Stock was automatically converted on a 1.153-for-1 basis into Common Stock upon the closing of the Issuer's initial public offering.

F11: Each share of Series J Preferred Stock was automatically converted on a 1-for-1 basis into Common Stock upon the closing of the Issuer's initial public offering.

F12: The shares are immediately convertible.

F13: The shares do not have an expiration date.

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.