Calix (CALX) CFO sells 50,000 shares after $5.05 option exercise

Calix (CALX) reported an insider transaction by its Chief Financial Officer, Cory Sindelar.

Rhea-AI Filing Summary

Calix (CALX) reported an insider transaction by its Chief Financial Officer, Cory Sindelar. On 11/06/2025, the CFO exercised 50,000 stock options at an exercise price of $5.05 (code M), acquiring common shares.

On the same day, he sold 50,000 common shares at a weighted average price of $65.2987 (code S). After these transactions, beneficial ownership of common stock was 76,555 shares, held directly. The related option was fully vested and exercisable since October 1, 2021, and 175,000 derivative securities (options) remained beneficially owned following the transactions, with an option expiration of 10/01/2027.

The sale price reflects multiple trades between $65.00 and $65.99; detailed breakdowns are available upon request.

Insider Trade Summary

Exercise and Sale: 50,000 shares ($3.01M approx. pre-tax spread)

Exercise and Sale 3 txns

Insider SINDELAR CORY

Role Chief Financial Officer

Sold 50,000 shs ($3.26M)

Approx. gross sale proceeds $3.26M

Approx. exercise cost $253K

Approx. pre-tax spread $3.01M

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	50,000	$0.00	$0.00
Exercise	Common Stock	50,000	$5.05	$253K
Sale	Common Stock	50,000	$65.2987	$3.26M

Holdings After Transaction: Stock Option (right to buy) — 175,000 contracts (Direct); Common Stock — 76,555 shares (Direct)

Footnotes (2)

1. F1. The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $65.00 to $65.99, inclusive. Full information on the number of shares sold at each sale price is available upon request.
2. F2. 100% of the shares subject to the option were fully vested and exercisable on October 1, 2021.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did CALX’s CFO transact on 11/06/2025?

He exercised 50,000 stock options at $5.05 and sold 50,000 common shares at a weighted average price of $65.2987.

How many CALX shares did the CFO own after the transactions?

He beneficially owned 76,555 common shares directly after the reported transactions.

What options remain for CALX’s CFO after the filing?

He held 175,000 derivative securities (stock options) following the transactions.

What was the price range of the CALX share sales?

Sales occurred between $65.00 and $65.99, with a weighted average of $65.2987.

When did the exercised options become fully vested?

The option was 100% vested and exercisable on October 1, 2021.

When do the remaining options expire for CALX’s CFO?

The option referenced carries an expiration date of 10/01/2027.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/12/2025 - 06:11 AM EST Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SINDELAR CORY

(Last) (First) (Middle)

C/O CALIX, INC.

3155 OLSEN DRIVE, SUITE 450

(Street)

SAN JOSE CA 95117

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CALIX, INC [ (CALX) ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/06/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/06/2025		M		50,000	A	$5.05	126,555	D
Common Stock	11/06/2025		S		50,000	D	$65.2987(1)	76,555	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$5.05	11/06/2025		M			50,000	(2)	10/01/2027	Common Stock	50,000	$0	175,000	D

Explanation of Responses:

1. The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $65.00 to $65.99, inclusive. Full information on the number of shares sold at each sale price is available upon request.

2. 100% of the shares subject to the option were fully vested and exercisable on October 1, 2021.

Remarks:

	/s/ Tom Gemetti as Attorney-in-Fact for Cory Sindelar	11/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.