Calix (CALX) insider Carl Russo acquires 10K shares via options

Rhea-AI Filing Summary

Calix, Inc. director and 10% owner Carl Russo reported an option exercise involving company stock. On January 7, 2026, he exercised a stock option to acquire 10,000 shares of Calix common stock at $12.63 per share, converting a derivative position into directly held shares. Following this transaction, he directly held 3,983,070 shares of common stock and 570,000 stock options.

Additional Calix shares are reported as indirectly owned through The Crescentico Trust, where Russo is trustee, and through Equanimous Investments, an entity managed by Russo and Tim Pasquinelli. The filing states that these individuals may be deemed to share voting and investment power over Equanimous Investments’ shares and that each disclaims beneficial ownership except to the extent of his pecuniary interest. The option exercised for 10,000 shares was fully vested and exercisable as of May 22, 2024.

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)
01/07/2026

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	01/07/2026		M		10,000	A	$12.63	3,983,070	D
Common Stock								1,694,188	I	See Footnote(1)
Common Stock								13,782	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	01/07/2026		M			10,000	(3)	05/22/2030	Common Stock	10,000	$0	570,000	D

Explanation of Responses:

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

2. 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.

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	01/08/2026
	** 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 for CALX?

Carl Russo reported exercising a stock option on January 7, 2026 to acquire 10,000 shares of Calix, Inc. (CALX) common stock.

At what price did Carl Russo acquire the 10,000 Calix (CALX) shares?

The 10,000 shares of Calix common stock were acquired at an exercise price of $12.63 per share through the option exercise.

How many Calix (CALX) shares does Carl Russo own after this transaction?

After the reported transaction, Carl Russo directly owned 3,983,070 shares of Calix common stock, according to the filing.

How many Calix stock options does Carl Russo hold after the transaction?

Following the option exercise, Russo held 570,000 remaining stock options on Calix common stock, as reported.

What indirect Calix (CALX) holdings are associated with Carl Russo?

The filing lists indirect holdings of Calix common stock by The Crescentico Trust, where Russo is trustee, and by Equanimous Investments, an entity managed by Russo and Tim Pasquinelli.

What does the filing say about beneficial ownership for Equanimous Investments’ Calix shares?

For shares held by Equanimous Investments, the filing states that Russo and Tim Pasquinelli may be deemed to share voting and investment power, and each disclaims beneficial ownership except to the extent of his pecuniary interest.

Were the exercised Calix stock options already vested?

Yes. A footnote explains that 100% of the shares subject to the option were fully vested and exercisable on May 22, 2024.