[Form 4] CALIX, INC. Insider Trading Activity

Rhea-AI Filing Summary

Cory Sindelar, Chief Financial Officer of Calix, Inc. (CALX), reported transactions on 08/28/2025 showing option exercise and contemporaneous sales under a Rule 10b5-1 plan. He exercised 10,000 stock options with a $5.05 exercise price, resulting in 10,000 shares being acquired. On the same date he sold 10,000 shares at $60. After those transactions he beneficially owned 76,555 shares directly. The filing also shows Sindelar holds options covering 245,000 underlying shares, with 100% of that option grant fully vested and exercisable as of October 1, 2021. The Form 4 states the sales were effected pursuant to a 10b5-1 trading plan adopted February 7, 2025.

Insights

Securities Analyst

TL;DR: Routine insider exercise and matched sale under a 10b5-1 plan; not an unusual liquidity event.

The filing documents a simultaneous option exercise at a $5.05 strike and a sale of the same number of shares at $60 under a pre-established 10b5-1 plan. This pattern commonly reflects planned liquidity rather than opportunistic trading. The reporter retains substantial derivative exposure (options covering 245,000 shares), indicating ongoing alignment with equity-based incentives. No change to company guidance, financial statements, or material corporate actions is disclosed.

Corporate Governance Expert

TL;DR: Disclosure is compliant and notes a 10b5-1 plan; transaction timing and vesting are clearly stated.

The Form 4 includes the required details: transaction codes, prices, post-transaction beneficial ownership, and a note that 100% of the option was vested as of October 1, 2021. The explicit mention of the 10b5-1 plan adoption date enhances transparency and reduces regulatory concern about insider timing. There is no indication of atypical concentration changes or relinquishment of control.

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).

X

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.

2777 ORCHARD PARKWAY

(Street)

SAN JOSE CA 95134

(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)
08/28/2025

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	08/28/2025		M		10,000	A	$5.05	86,555	D
Common Stock	08/28/2025		S		10,000	D	$60	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	08/28/2025		M			10,000	(1)	10/01/2027	Common Stock	10,000	$0	245,000	D

Explanation of Responses:

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

Remarks:

Sales reported on the Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on February 7, 2025.

	/s/ Tom Gemetti as Attorney-in-Fact for Cory Sindelar	08/29/2025
	** 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).
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