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: FLYNN MICHAEL T (Director)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	32264	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$9.54	2020-01-25	Common Stock (5000)		Direct

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: Consists of 32,264 restricted stock units ("RSUs"). The Reporting Person is entitled to receive one (1) share of Common Stock for each one (1) RSU upon vesting. 14,999 of the RSUs will vest on the first day that the Issuer's trading window opens for employees that is more than 180 days following the effective date of the Issuer's initial public offering (the "First Vesting Date"), and 14,999 of the RSUs will vest on the first day the trading window opens for employees that is more than 180 days after the First Vesting Date. The remaining 2,266 RSUs will vest on January 26, 2011.

F3: The shares subject to the option vest in twelve (12) successive and equal monthly installments measured from January 26, 2010, such that 100% of the shares subject to the option will be fully vested and exercisable on January 26, 2011.