Entity linked to CALY director sells 10K shares

Callaway Golf Co director Erik J. Anderson reported an indirect sale of company stock through an affiliated entity.

Rhea-AI Filing Summary

Callaway Golf Co director Erik J. Anderson reported an indirect sale of company stock through an affiliated entity. On February 23, 2026, WestRiver Management, LLC, an entity for which Anderson is sole member and manager, sold 10,000 shares of Callaway Golf common stock at an average price of $13.822 per share in an open-market transaction, leaving 680,459 shares held indirectly through WestRiver Management.

Following this transaction, Anderson also reported 20,607 shares of Callaway Golf common stock held directly and 40,476 shares held indirectly through Anderson Family Investments, LLC. According to the filing, Anderson may be deemed to beneficially own the securities held by these entities, but he disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

Net Seller: 10,000 shares

Net Sell 3 txns

Insider ANDERSON ERIK J

Role Director

Sold 10,000 shs ($138K)

Type	Security	Shares	Price	Value
Sale	Common Stock	10,000	$13.822	$138K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 680,459 shares (Indirect, By WestRiver Management, LLC); Common Stock — 20,607 shares (Direct); Common Stock — 40,476 shares (Indirect, By Anderson Family Investments, LLC)

Footnotes (1)

1. F1. 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.

FAQ

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

Callaway Golf reported that an entity associated with director Erik J. Anderson, WestRiver Management, LLC, sold 10,000 shares of common stock in an open-market transaction at $13.822 per share on February 23, 2026, as disclosed in a Form 4 filing.

Who actually sold the Callaway Golf Co (CALY) shares in the latest Form 4?

The 10,000 Callaway Golf shares were sold by WestRiver Management, LLC, an entity for which Erik J. Anderson is sole member and manager. The filing attributes the transaction to this LLC, with Anderson potentially deemed a beneficial owner through his pecuniary interest.

How many Callaway Golf Co (CALY) shares did WestRiver Management, LLC hold after the sale?

After selling 10,000 shares at $13.822 per share, WestRiver Management, LLC reported holding 680,459 shares of Callaway Golf common stock. These shares are reported as indirectly owned by director Erik J. Anderson through his role as sole member and manager of the LLC.

What are Erik J. Anderson’s direct Callaway Golf Co (CALY) share holdings after this filing?

The Form 4 states that Erik J. Anderson directly holds 20,607 shares of Callaway Golf common stock as of the reporting date. This position is separate from additional shares reported as indirectly owned through WestRiver Management, LLC and Anderson Family Investments, LLC.

What indirect Callaway Golf Co (CALY) holdings does Anderson Family Investments, LLC report?

The filing shows 40,476 Callaway Golf common shares held indirectly through Anderson Family Investments, LLC. Erik J. Anderson is the sole manager of this entity and may be deemed to beneficially own these shares, while disclaiming beneficial ownership except to his pecuniary interest.

Does Erik J. Anderson fully acknowledge beneficial ownership of all CALY shares reported?

No. The Form 4 explains that while Erik J. Anderson may be deemed to beneficially own shares held by WestRiver Management, LLC and Anderson Family Investments, LLC, he expressly disclaims beneficial ownership of these securities except to the extent of his pecuniary interest in those entities.

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Accepted by SEC EDGAR 02/25/2026 - 05:16 PM Learn about SEC filing dates

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 CA 92008

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2026

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	02/23/2026		S		10,000	D	$13.822	680,459	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	02/25/2026
	** 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.