[144] CALIX, INC. SEC Filing

Rhea-AI Filing Summary

Calix, Inc. (CALX) filed a Form 144 disclosing a planned sale of 108,000 common shares through Morgan Stanley Smith Barney on or after 07/23/2025. The block is valued at $6.064 million and represents roughly 0.17 % of the 65.30 million shares outstanding. The shares were acquired via a same-day stock-option exercise paid in cash.

The notice also lists prior sales by the same filer in the past three months: 92,000 shares on 07/22/2025 for $5.06 million and 100,000 shares on 06/02/2025 for $4.66 million. Including the current intent, the seller has disposed of or plans to dispose of 300,000 shares—about 0.46 % of outstanding stock—generating total gross proceeds near $15.8 million.

While Form 144 filings do not guarantee execution, they flag affiliate selling activity that investors often watch for signals on insider sentiment.

Positive

• None.

Negative

• Affiliate intends to sell 108,000 shares worth $6.064 m, following two recent sales totaling 192,000 shares, signaling sustained insider liquidation.
• Total 300,000 shares sold/expected in 3 months (~0.46 % of shares outstanding) may create perceived stock-supply overhang and raise questions about insider confidence.

Insights

Securities Analyst

TL;DR Insider plans third sizable sale in 3 months, totaling 300 k shares (~0.46 % O/S); may pressure sentiment but limited mechanical impact.

The Form 144 adds another 108 k shares to two recent sales worth $9.7 m, bringing intended dispositions to roughly $15.8 m. Although the volume is modest relative to float, clustering of transactions can influence perception of management confidence and near-term stock supply. No dilution occurs because the sale is secondary, yet continued insider monetization after option exercise can act as an overhang, especially ahead of earnings windows.

Corporate Governance Expert

TL;DR Repeated affiliate selling could raise governance questions on alignment; magnitude remains immaterial to voting power.

Rule 144 filings require insiders to certify absence of undisclosed negative information, but three sales inside one quarter may trigger investor scrutiny around long-term commitment. The 0.46 % stake reduction is unlikely to alter control dynamics; however, boards often monitor clustering patterns to evaluate optics and potential policy adjustments (e.g., 10b5-1 plans). From a governance lens the event is noteworthy yet not structurally harmful.

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	108000	6064000.00	65303995	07/23/2025	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	07/23/2025	Stock Option Exercise	Issuer			108000	07/23/2025	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	07/22/2025	92000	5060000.00
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

What did CALX file on Form 144?

A notice of intent to sell 108,000 common shares under Rule 144.

How much are the shares worth?

The aggregate market value is approximately $6.064 million.

When is the planned sale date for CALX shares?

The filing lists an approximate sale date of 07/23/2025 on the NYSE.

How many CALX shares has the seller disposed of recently?

Including this notice, the filer has sold or plans to sell 300,000 shares over the last three months.

Does a Form 144 guarantee the shares will be sold?

No. It only signals the affiliate’s intent; the transaction may or may not occur.