CALX insider sells 24,000 shares after $8.03 option exercise

Rhea-AI Filing Summary

Calix, Inc. reported an insider transaction by Chief Product Officer Shane Eleniak. On 11/10/2025, he exercised 24,000 stock options at an exercise price of $8.03 and sold 24,000 shares of common stock at a weighted average price of $64.135. The sale occurred through multiple trades in a price range of $64.00 to $64.295, with full trade details available upon request.

Following these transactions, his direct beneficial ownership of common stock was 0 shares. The filing notes the option grant was fully vested and exercisable as of February 14, 2023, with an expiration date of February 14, 2029.

Insights

Corporate governance analyst

Routine Form 4: option exercise and same-day sale, neutral impact.

The Chief Product Officer executed a standard exercise-and-sell: 24,000 options at $8.03 exercised, and 24,000 shares sold at a weighted average of $64.135 on 11/10/2025. The transaction reports a multi-trade range of $64.00–$64.295, which is typical disclosure.

Post-transaction direct common stock ownership is reported as 0 shares. The option was fully vested as of February 14, 2023, with expiration on February 14, 2029. This filing records insider activity but does not, by itself, signal operational or financial changes.

Insider Trade Summary

Net Seller: 24,000 shares ($1,539,240)

Net Sell 3 txns

Insider Eleniak Shane Todd Marshall

Role Chief Product Officer

Sold 24,000 shs ($1.54M)

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	24,000	$0.00	--
Exercise	Common Stock	24,000	$8.03	$193K
Sale	Common Stock	24,000	$64.135	$1.54M

Holdings After Transaction: Stock Option (right to buy) — 24,000 shares (Direct); Common Stock — 24,000 shares (Direct)

Footnotes (1)

1. The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $64.00 to $64.295, inclusive. Full information on the number of shares sold at each sale price is available upon request. 100% of the shares subject to the option were fully vested and exercisable on February 14, 2023.

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Form 4 Insider Transactions: What Each Field Means →

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^*

Eleniak Shane Todd Marshall

(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 Product Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/10/2025

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	11/10/2025		M		24,000	A	$8.03	24,000	D
Common Stock	11/10/2025		S		24,000	D	$64.135(1)	0	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	11/10/2025		M			24,000	(2)	02/14/2029	Common Stock	24,000	$0	24,000	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 $64.00 to $64.295, 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 February 14, 2023.

Remarks:

	/s/ Tom Gemetti as Attorney-in-fact for Shane Eleniak	11/12/2025
	** 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.