CALIX, INC — Director's Dealing 2022

Feb 11, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CALIX, INC ((CALX))
CIK: 0001406666
Period of Report: 2022-02-10

Reporting Person: Eleniak Shane Todd Marshall (EVP, Products)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-02-10	Stock Option (right to buy)	$36.74	A	116520	Acquired	2031-02-11	Common Stock (116520.0)	Direct
2022-02-10	Stock Option (right to buy)	$55.96	A	125000	Acquired	2032-02-10	Common Stock (125000.0)	Direct

Footnotes

F1: On February 11, 2021, the reporting person was awarded a performance-based nonqualified stock option grant covering 120,000 shares of common stock. On February 10, 2022, the Compensation Committee of Calix, Inc. determined that the performance criteria governing 97.1% of the grant had been achieved, resulting in a nonqualified stock option award of 116,520 shares of common stock for the reporting person. The nonqualified stock option award shall vest: (i) as to 25% of the shares of common stock subject to the stock option award, on February 11, 2022; and (ii) as to the remaining 75% of the shares of common stock subject to the stock option award, quarterly in equal installments over 36 months from February 11, 2022.

F2: 25% of each option grant will vest on the one-year anniversary of the grant date, with the remainder vesting quarterly thereafter in substantially equal installments over the next 36 months, subject to the employee's continued employment with Calix through the applicable vesting dates. Notwithstanding the foregoing, no shares issued upon exercise of the grant may be transferred in any manner prior to the second anniversary of the date such shares vested.