CALIX, INC — Director's Dealing 2011

Jul 22, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CALIX, INC (CALX)
CIK: 0001406666
Period of Report: 2011-07-19

Reporting Person: GROSSER ADAM (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-07-19	Common Stock	A	2833	—	Acquired	7366	Direct
2010-10-25	Common Stock	J	62524	—	Disposed	0	Indirect
2010-10-25	Common Stock	J	2880916	—	Disposed	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-07-19	Stock Option (right to buy)	$21.67	A	6250	Acquired	2021-07-19	Common Stock (6250)	Direct

Footnotes

F1: Restricted Stock Units ("RSUs"). The Reporting Person is entitled to receive one (1) share of Common Stock for each one (1) RSU upon vesting. 100% of the RSUs will vest on the one (1) year anniversary following July 19, 2011.

F2: Includes 5,855 RSUs.

F3: Effective as of October 25, 2010, the Reporting Person separated from Foundation Capital and as of that date no longer had or shared any voting or dispositive authority over the shares of Common Stock held by Foundation Capital V Principals Fund, LLC and Foundation Capital V, L.P. Therefore, effective as of October 25, 2010, the Reporting Person ceased to have beneficial ownership of such shares.

F4: Shares are held by Foundation Capital V Principals Fund, LLC. Prior to October 25, 2010, the Reporting Person was a managing member of Foundation Capital Management Co. V, LLC, which is the sole general partner of Foundation Capital V Principals Fund, LLC.

F5: Shares are held by Foundation Capital V, L.P. Prior to October 25, 2010, the Reporting Person was a managing member of Foundation Capital Management Co. V, LLC, which is the sole general partner of Foundation Capital V, L.P.

F6: 1/12th of the shares subject to the option will vest and become exercisable in twelve (12) successive and equal monthly installments after July 19, 2011 ("the Vesting Commencement Date"), such that 100% for the shares subject to the option will be fully vested and exercisable on the first anniversary of the Vesting Commencement Date.