[Form 4] CALIX, INC. Insider Trading Activity

Rhea-AI Filing Summary

Cory Sindelar, Calix CFO, reported acquiring 270 shares of Calix common stock under the company's ESPP on 08/14/2025 at an effective purchase price of $33.6855 per share. The purchase was made under the Amended and Restated Employee Stock Purchase Plan for the February 15, 2025 through August 14, 2025 offering period and was priced at 85% of the closing price on the first trading day of that period. After the ESPP purchase, Sindelar beneficially owned 76,555 shares. The filing notes the transaction is exempt under Rule 16b-3(c).

Insights

Securities Analyst

TL;DR: Insider participation via ESPP shows alignment but the single purchase of 270 shares is immaterial to valuation.

The CFO's acquisition under the ESPP demonstrates routine executive participation in a company compensation program and aligns management interests with shareholders. The disclosed 270-share purchase at $33.6855 increases insider holdings to 76,555 shares, but the absolute size of the transaction is small relative to typical market-cap and outstanding share counts for public companies. The filing cites Rule 16b-3(c) exemption, indicating this is a planned, pre-approved purchase rather than opportunistic trading.

Corporate Governance Expert

TL;DR: Transaction reflects standard ESPP mechanics and compliance; no governance concerns evident from this Form 4.

The Form 4 discloses a standard ESPP purchase priced at the plan discount (85% of the first-trading-day close). The reporting includes required details: transaction code, number of shares acquired, post-transaction beneficial ownership, and an attorney-in-fact signature. There is no indication of atypical timing, insider trading issues, or significant leadership change. From a governance perspective, this is routine and compliant disclosure of an employee purchase.

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

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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.

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)
08/14/2025

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	08/14/2025		A	V	270(1)	A	$33.6855(2)	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

Explanation of Responses:

1. The reporting person is voluntarily reporting the acquisition of shares of the issuer's common stock pursuant to the Calix, Inc. Amended and Restated Employee Stock Purchase Plan ("ESPP") for the ESPP purchase period of February 15, 2025 through August 14, 2025. This transaction is exempt under Rule 16b-3(c).

2. In accordance with the ESPP, these shares were purchased based on 85% of the closing price of the issuer's common stock on February 18, 2025, the first trading day of the purchase period.

Remarks:

	/s/ Tom Gemetti as Attorney-in-Fact for Cory Sindelar	08/15/2025
	** 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).
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