Calix (CALX) director Carl Russo exercises 10,000 options into common stock

Rhea-AI Filing Summary

Calix, Inc. director and 10% owner Carl Russo exercised stock options for 10,000 shares on February 25, 2026. The option exercise converted a stock option into an equal number of Calix common shares at a stated price of $12.63 per share.

After the transactions, Russo directly held 399,3070 shares of common stock and 560,000 stock options. He also reported indirect ownership of 13,782 and 1,669,188 common shares through entities referenced in the footnotes, including Equanimous Investments and The Crescentico Trust, where beneficial ownership is disclaimed except for any pecuniary interest.

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

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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^*

Russo Carl

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2026

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	02/25/2026		M		10,000	A	$12.63	3,993,070	D
Common Stock								13,782	I	See Footnote(1)
Common Stock								1,669,188	I	See Footnote(2)

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)	$12.63	02/25/2026		M			10,000	(3)	05/22/2030	Common Stock	10,000	$0	560,000	D

Explanation of Responses:

1. Shares held by Equanimous Investments. The managing members of Equanimous Investments are Carl Russo and Tim Pasquinelli. These individuals may be deemed to have shared voting and investment power over the shares held by Equanimous Investments. Each of these individuals disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

2. Shares held by The Crescentico Trust, Carl Russo, Trustee.

3. 100% of the shares subject to the option were fully vested and exercisable on May 22, 2024.

Remarks:

	/s/ Tom Gemetti as Attorney-in-Fact for Carl Russo	02/26/2026
	** 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

What insider transaction did Carl Russo report at CALIX, INC (CALX)?

Carl Russo reported exercising stock options for 10,000 Calix common shares on February 25, 2026. The derivative exercise converted options into common stock at a stated price of $12.63 per share, without indicating any open-market purchase or sale activity.

How many CALIX, INC (CALX) shares does Carl Russo own directly after this filing?

Following the reported option exercise, Carl Russo directly holds 3,993,070 shares of Calix common stock. He also holds 560,000 stock options directly. These figures reflect his direct ownership position after the February 25, 2026 derivative exercise transaction.

Were any CALIX, INC (CALX) shares sold in Carl Russo’s Form 4 transaction?

No share sales were reported in this Form 4. The transactions reflect an exercise or conversion of derivative securities into 10,000 shares of Calix common stock, categorized as an acquisition rather than an open-market sale or purchase.

What indirect CALIX, INC (CALX) holdings are associated with Carl Russo?

The filing shows indirect ownership of 13,782 and 1,669,188 Calix common shares. Footnotes state these are held by Equanimous Investments and The Crescentico Trust, with Russo and others disclaiming beneficial ownership except to the extent of any pecuniary interest.

What does the option vesting footnote mean in the CALIX, INC (CALX) Form 4?

A footnote explains that 100% of the shares subject to the option were fully vested and exercisable on May 22, 2024. This means by that date, all 10,000 option shares were available for exercise, leading to the February 25, 2026 derivative conversion.

Is Carl Russo considered a 10% owner of CALIX, INC (CALX) in this filing?

Yes, the Form 4 identifies Carl Russo as both a director and a ten percent owner of Calix, Inc. This status requires reporting his direct and certain indirect holdings and derivative exercises under Section 16 insider reporting rules.