Director-linked entity at Callaway Golf (CALY) sells 70,000 company shares

Rhea-AI Filing Summary

Callaway Golf Co director-linked entities reported stock sales. An entity associated with director Erik J. Anderson, WestRiver Management LLC, sold a total of 70,000 shares of Callaway Golf common stock in open-market transactions over three days at weighted-average prices of $13.43, $13.64, and $13.98 per share.

After these sales, WestRiver Management LLC held 690,459 shares. Additional holdings reported include 20,607 shares held directly by Anderson and 40,476 shares held through Anderson Family Investments, LLC. Anderson may be deemed to beneficially own these securities through these entities, while disclaiming beneficial ownership beyond his 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^*

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)
02/17/2026

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	02/17/2026		S		40,000	D	$13.43(1)	720,459	I	By WestRiver Management, LLC(2)
Common Stock	02/18/2026		S		20,000	D	$13.64(3)	700,459	I	By WestRiver Management, LLC(2)
Common Stock	02/19/2026		S		10,000	D	$13.98	690,459	I	By WestRiver Management, LLC(2)
Common Stock								20,607	D
Common Stock								40,476	I	By Anderson Family Investments, LLC(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

Explanation of Responses:

1. The price reported in Column 4 of Table I is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.20 to $13.75. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission full information regarding the number of shares sold at each separate price within this range.

2. 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.

3. The price reported in Column 4 of Table I is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.58 to $13.70. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission full information regarding the number of shares sold at each separate price within this range.

	/s/ Erik J. Anderson	02/19/2026
	** 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).
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FAQ

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

Callaway Golf reported that entities associated with director Erik J. Anderson sold 70,000 shares of common stock in open-market trades. The sales occurred over three days at weighted-average prices between $13.43 and $13.98 per share, reducing but not eliminating their indirect ownership stake.

On which dates did the Anderson-linked entities sell Callaway Golf (CALY) shares and at what prices?

Entities linked to Erik J. Anderson sold Callaway Golf common stock on February 17, 18, and 19, 2026. Weighted-average sale prices were $13.43, $13.64, and $13.98 per share, with each day’s total executed through multiple trades within stated price ranges.

How many Callaway Golf (CALY) shares do Erik J. Anderson and related entities hold after these sales?

Following the reported transactions, WestRiver Management LLC held 690,459 Callaway Golf shares. The filing also shows 20,607 shares held directly by Erik J. Anderson and 40,476 shares held through Anderson Family Investments, LLC, reflecting direct and indirect ownership positions after the sales.

Who actually sold the Callaway Golf (CALY) shares linked to Erik J. Anderson?

The reported sales were made by WestRiver Management LLC, an entity associated with director Erik J. Anderson. The filing notes Anderson may be deemed to beneficially own securities held by WestRiver Management and Anderson Family Investments, LLC, while disclaiming beneficial ownership beyond his pecuniary interest.

What type of transactions were reported in the Callaway Golf (CALY) Form 4 for Erik J. Anderson?

The Form 4 reports open-market sales of Callaway Golf common stock by WestRiver Management LLC, coded as “S” transactions. It also includes updated holdings for Anderson’s direct ownership and for Anderson Family Investments, LLC, without indicating additional buy or sell activity for those positions.