[Form 4] CALIX, INC. Insider Trading Activity

Rhea-AI Filing Summary

On 05 Aug 2025, NRG Energy (NRG) filed a Form 4 disclosing that Executive Vice President Robert J. Gaudette automatically acquired 68 shares of common stock on 01 Aug 2025. The shares were received at $0 cost as dividend-equivalent rights (DERs) attached to previously granted deferred or restricted stock units (Transaction Code A). Following the accrual, Gaudette’s direct holdings rise to 64,725 shares; the footnote also references 951 additional DERs that can only be settled in NRG stock. The incremental addition represents less than 0.0002 % of NRG’s ~231 million shares outstanding and involves no open-market activity or cash consideration. As such, the filing is viewed as routine maintenance of equity-based compensation rather than a signal of insider sentiment or a material change in ownership.

Insights

Securities Analyst

TL;DR: Immaterial 68-share DER accrual; routine Form 4, unlikely to move NRG valuation or governance narrative.

The transaction reflects standard quarterly crediting of dividend equivalents on equity awards, not an elective purchase. At $0 consideration and an ownership change of only 68 shares, the economic impact is negligible. Gaudette’s total stake remains modest relative to NRG’s market float, and no derivatives or sales were reported. Investors should treat the filing as compliance-driven disclosure with neutral impact on outlook and insider sentiment.

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^*

Weening Michael

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/04/2025

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	08/04/2025		M		74,000	A	$8.03	89,812	D
Common Stock	08/04/2025		S		74,000	D	$57	15,812	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)	$8.03	08/04/2025		M			74,000	(1)	02/14/2029	Common Stock	74,000	$0	0	D

Explanation of Responses:

1. 100% of the shares subject to the option were fully vested and exercisable on February 14, 2023.

Remarks:

Sales reported on the Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on February 28, 2025.

	/s/ Tom Gemetti as Attorney-in-Fact for Michael Weening	08/05/2025
	** 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.

FAQ

How many NRG shares did Robert Gaudette acquire in the latest Form 4?

The filing shows an acquisition of 68 shares on 01 Aug 2025 through dividend-equivalent rights.

What is Gaudette’s total NRG share ownership after the transaction?

After the accrual, he directly owns 64,725 shares, plus 951 dividend-equivalent rights tied to equity awards.

Was the transaction an open-market purchase?

No. The shares were credited at $0 cost as part of routine dividend-equivalent adjustments, not bought on the market.

What does Transaction Code "A" signify on Form 4?

Code "A" indicates an acquisition of securities, in this case via automatic dividend-equivalent rights.

Does this insider filing signal bullish sentiment for NRG (NRG)?

Likely not; the transaction is routine and immaterial, so it offers no meaningful insight into insider sentiment.