[144] CALIX, INC. SEC Filing

Rhea-AI Filing Summary

Lemonade, Inc. (LMND) – Form 4 insider filing

CFO Timothy E. Bixby exercised 7,000 fully-vested employee stock options at an exercise price of $23.69, then sold the same 7,000 shares under a Rule 10b5-1 plan. The sales occurred on 18 Jul 2025 (6,000 sh. at $42.50) and 21 Jul 2025 (1,000 sh. at $42.70), generating gross proceeds of roughly $0.30 million versus an aggregate exercise cost of about $0.17 million.

After the transactions Mr. Bixby’s direct holding remains 263,393 common shares, unchanged from the level prior to the option exercises. He also retains 30,000 shares held indirectly through the Timothy E. Bixby Family Trust and 277,300 unexercised options expiring 25 Sep 2029.

The activity represents <0.02 % of LMND’s 67 million outstanding shares and appears routine portfolio diversification rather than a signal about business fundamentals. No other insiders transacted and no company cash was involved.

Insights

Securities Analyst

TL;DR – Small, routine 10b5-1 sale; immaterial to valuation.

The CFO merely swapped 7,000 options for stock, then liquidated the shares at a 79% spread to strike, netting about $131 k after costs. His ownership percentage and voting power are unchanged, and the sale represents a de minimis slice of the float. Option exercises marginally lower his remaining option pool, but there is no new dilution to shareholders because the exercised shares were already reserved. Given LMND’s multi-billion-dollar market cap, the transaction has no forecast or cash-flow impact and should not affect the investment thesis.

Corporate Governance Expert

TL;DR – Filing shows good compliance; no red flags.

The transaction was executed under a pre-arranged Rule 10b5-1 plan, signalling procedural rigor and reducing the likelihood of informational abuse. The Form 4 was filed within the two-business-day window, and explanatory footnotes clearly outline the trust relationship and option status. Insider’s direct stake remains sizeable (> $11 m at current prices), aligning interests with shareholders. There are no patterns of accelerated selling or unusual derivatives activity. Overall governance implications are neutral to slightly positive.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	92000	5060000.00	65303995	07/22/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	07/22/2025	Stock Option Exercise	ISSUER			92000	07/22/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
MICHAEL WEENING 2777 ORCHARD PARKWAY SAN JOSE CA 95134	Common	06/02/2025	100000	4658710.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Lemonade (LMND) shares did the CFO sell?

Timothy Bixby sold 7,000 common shares in two trades on 18 and 21 July 2025.

What was the average sale price for the insider transactions?

Shares were sold at $42.50 and $42.70, producing an average of roughly $42.53 per share.

Did the CFO’s overall ownership in LMND change after the Form 4 transactions?

No. Direct holdings remain 263,393 shares; 30,000 indirect trust shares are unchanged.

Were the sales executed under a Rule 10b5-1 trading plan?

Yes, the footnotes state the sales were made pursuant to a Rule 10b5-1 plan adopted 12 Dec 2024.

How many options does the CFO still hold after the exercises?

Mr. Bixby retains 277,300 unexercised stock options expiring 25 Sep 2029.