Topgolf Callaway Brands Corp. — Director's Dealing 2016

Jan 19, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CALLAWAY GOLF CO (ELY)
CIK: 0000837465
Period of Report: 2016-01-18

Reporting Person: Hocknell Alan (SVP, Research & Development)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-01-18	Performance Stock Unit	$	A	32762.23	Acquired		Common Stock (32762.23)	Direct

Footnotes

F1: Each Performance Stock Unit represents a contingent right to receive one share of common stock.

F2: The Performance Stock Units were originally granted on February 2, 2015 and were subject to the achievement of certain performance criteria. On January 18, 2016, the Compensation and Management Succession Committee of the Board of Directors determined that the performance criteria were achieved for the number of units being reported on this form. The Performance Stock Units vest on the third anniversary of the grant date provided the recipient remains employed by Callaway Golf Company.

F3: Represents only the Performance Stock Units granted on February 2, 2015 and does not include other Performance Stock Units with different vesting terms.