WestRiver entity of Callaway (CALY) director sells 100,000 company shares

Rhea-AI Filing Summary

Callaway Golf director–related entities reported share sales. WestRiver Management, LLC, an entity associated with director Erik J. Anderson, sold a total of 100,000 shares of Callaway Golf common stock in open-market transactions at prices ranging from $15.735 to $17.540 per share.

After these sales, WestRiver Management, LLC held 580,459 shares indirectly. The filing also shows 40,476 shares held indirectly by Anderson Family Investments, LLC and 20,607 shares held directly by Anderson as of the reported date. Anderson disclaims beneficial ownership beyond his pecuniary interest.

Insider Trade Summary

Net Seller: 100,000 shares ($1,677,500)

Net Sell 5 txns

Insider ANDERSON ERIK J

Role null

Sold 100,000 shs ($1.68M)

Type	Security	Shares	Price	Value
Sale	Common Stock	25,000	$15.735	$393K
Sale	Common Stock	25,000	$16.285	$407K
Sale	Common Stock	50,000	$17.54	$877K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 580,459 shares (Indirect, By WestRiver Management, LLC); Common Stock — 20,607 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares sold: 100,000 shares Sale price 1: $16.285 per share Sale price 2: $17.540 per share +4 more

7 metrics

Shares sold 100,000 shares Total open-market sales by WestRiver Management, LLC

Sale price 1 $16.285 per share 25,000-share sale of common stock

Sale price 2 $17.540 per share 50,000-share sale of common stock

Sale price 3 $15.735 per share 25,000-share sale of common stock

Indirect holdings WestRiver 580,459 shares Indirect Callaway Golf shares held after sales

Indirect holdings AFI 40,476 shares Indirect holdings by Anderson Family Investments, LLC

Direct holdings 20,607 shares Direct Callaway Golf shares held by Anderson

Key Terms

open-market sale, indirect ownership, beneficially own, pecuniary interest

4 terms

open-market sale financial

"sold a total of 100,000 shares of Callaway Golf common stock in open-market transactions"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

indirect ownership financial

"held 580,459 shares indirectly"

beneficially own financial

"may be deemed to beneficially own the securities held of record"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

pecuniary interest financial

"disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest"

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^*

ANDERSON ERIK J

(Last) (First) (Middle)

2180 RUTHERFORD ROAD

(Street)

CARLSBAD CALIFORNIA 92008

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Callaway Golf Co [ CALY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/11/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/11/2026		S		25,000	D	$16.285	655,459	I	By WestRiver Management, LLC(1)
Common Stock	05/11/2026		S		50,000	D	$17.54	605,459	I	By WestRiver Management, LLC(1)
Common Stock	05/12/2026		S		25,000	D	$15.735	580,459	I	By WestRiver Management, LLC(1)
Common Stock								20,607	D
Common Stock								40,476	I	By Anderson Family Investments, LLC(1)

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 the sole member and sole manager of WestRiver Management LLC ("WestRiver Management") and the sole manager of Anderson Family Investments, LLC ("AFI"). As a result, the Reporting Person may be deemed to beneficially own the securities held of record by WestRiver Management, and AFI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein.

	/s/ Erik J. Anderson	05/19/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did Callaway Golf (CALY) report for Erik J. Anderson?

The filing shows entities associated with director Erik J. Anderson executed open-market sales totaling 100,000 Callaway Golf common shares. These trades were made through WestRiver Management, LLC at prices between $15.735 and $17.540 per share, reducing that entity’s indirect holdings.

How many Callaway Golf (CALY) shares were sold in the latest Form 4?

Entities linked to director Erik J. Anderson sold 100,000 shares of Callaway Golf common stock. WestRiver Management, LLC completed three open-market sales of 25,000, 50,000, and 25,000 shares on May 11 and May 12, 2026, at prices from $15.735 to $17.540.

What are Erik J. Anderson’s indirect Callaway Golf (CALY) holdings after these sales?

After the reported transactions, WestRiver Management, LLC held 580,459 Callaway Golf shares indirectly. The filing also lists 40,476 shares held indirectly by Anderson Family Investments, LLC and 20,607 shares held directly by Anderson, providing a snapshot of his reported positions following the trades.

At what prices were the Callaway Golf (CALY) insider shares sold?

The reported insider sales occurred at per-share prices of $16.285, $17.540, and $15.735. These amounts correspond to separate open-market transactions of 25,000, 50,000, and 25,000 Callaway Golf common shares executed by WestRiver Management, LLC on May 11 and May 12, 2026.

Who actually held the Callaway Golf (CALY) shares involved in the reported sales?

The sold shares were held by WestRiver Management, LLC, an entity for which Erik J. Anderson is the sole member and manager. The filing states he may be deemed to beneficially own these securities but disclaims beneficial ownership except to the extent of his pecuniary interest.