Calix (NYSE: CALX) lifts buyback plan with extra $125M

Rhea-AI Filing Summary

Calix, Inc. expanded its stock repurchase program, which had $109.3 million of remaining authorization as of December 31, 2025. On January 27, 2026, the board approved up to an additional $125 million of buybacks, bringing the total program authorization to $425 million.

The company may repurchase shares from time to time through open market purchases, privately negotiated transactions or other methods, in line with SEC rules and its capital allocation strategy. Calix is not required to repurchase a specific amount of stock and may suspend or discontinue the program at its discretion.

Insights

Equity Capital Allocation Analyst

Calix raises its share repurchase authorization to $425 million, signaling ongoing capital return flexibility.

Calix increased its stock repurchase authorization by $125 million, taking the total program to $425 million. As of December 31, 2025, $109.3 million remained authorized, so this action meaningfully refreshes potential capacity for future buybacks.

The board’s decision allows repurchases via open market transactions, privately negotiated deals or other methods, all under SEC and other legal requirements. Actual buyback activity will depend on stock price, economic conditions and the company’s capital allocation priorities.

The program is discretionary and can be suspended or discontinued, so the real impact depends on how much Calix ultimately repurchases versus other uses of cash. Future company disclosures may indicate executed repurchase volumes and timing.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

 CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 27, 2026

CALIX, INC.

(Exact name of Registrant as specified in its charter)

Delaware

001-34674

68-0438710

(State or other jurisdiction of incorporation)

(Commission File No.)

(I.R.S. Employer Identification No.)

3155 Olsen Drive, Suite 450, San Jose, California

95117

(Address of principal executive offices)

(Zip Code)

(408) 514-3000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol

Name of Each Exchange on Which Registered

Common Stock, par value $0.025 per share

CALX

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act).  o

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Item 8.01 Other Events.

The Company maintains a repurchase program for its common stock. As of December 31, 2025, the remaining authorized balance under the program was $109.3 million. On January 27, 2026, the Board amended the stock repurchase program to authorize the repurchase of up to an additional $125 million of its common stock, bringing the total authorization under the program up to $425 million.

Under the repurchase program, repurchases can be made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or otherwise, all in accordance with the rules of the SEC and other applicable legal requirements. The specific timing, price and size of the purchases will depend on prevailing stock prices, general economic and market conditions, and other considerations consistent with the Company’s capital allocation strategy. The repurchase program does not obligate the Company to acquire a particular amount of common stock, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.						Description
99.1						Press Release dated January 28, 2026, announcing increase in stock repurchase authorization.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:

January 28, 2026

Calix, Inc.

By:

/s/ Doug McNitt

Doug McNitt

EVP, General Counsel

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FAQ

What change to its stock repurchase program did Calix (CALX) announce?

Calix increased its stock repurchase authorization by $125 million, raising the total program to $425 million. This builds on an existing plan and gives the board more room to buy back common shares when it considers conditions and capital priorities attractive.

How much repurchase capacity did Calix (CALX) have before the new authorization?

As of December 31, 2025, Calix had $109.3 million of remaining authorization under its stock repurchase program. The board’s January 27, 2026 increase of $125 million expands potential future buybacks beyond this remaining balance, subject to market conditions and internal capital allocation decisions.

What is the total size of Calix’s (CALX) stock repurchase program after the increase?

After adding $125 million of new authorization, Calix’s total stock repurchase program now stands at $425 million. This total reflects cumulative board approvals and sets the maximum value of common stock the company is currently authorized to repurchase over time.

How can Calix (CALX) execute share repurchases under the expanded program?

Calix may repurchase common stock from time to time through open market purchases, privately negotiated transactions or other methods. All activity must comply with SEC rules and other applicable legal requirements while aligning with the company’s broader capital allocation strategy and prevailing market conditions.

Is Calix (CALX) required to buy back a specific amount of stock under this program?

Calix is not obligated to repurchase any particular amount of common stock under the $425 million program. The company can adjust, suspend or discontinue repurchases at its discretion, depending on stock price, economic environment, and alternative uses of capital such as investment or balance sheet management.

Does the Calix (CALX) board retain flexibility over the repurchase program?

Yes. The board has authorized up to $425 million in stock repurchases but retains full discretion over timing, pricing and scale. The program can be suspended or discontinued at any time, allowing Calix to respond to changing market conditions or strategic capital allocation needs without a fixed repurchase obligation.