John Matthew Collins - Feb 10, 2022 Form 4 Insider Report for CALIX, INC (CALX)

Signature
/s/ Tom Gemetti as Attorney-in-fact for John Matthew Collins
Stock symbol
CALX
Transactions as of
Feb 10, 2022
Transactions value $
$0
Form type
4
Date filed
2/11/2022, 03:13 PM
Previous filing
Nov 2, 2021
Next filing
Mar 1, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CALX Stock Option (right to buy) Award $0 +117K $0.00 117K Feb 10, 2022 Common Stock 117K $36.74 Direct F1
transaction CALX Stock Option (right to buy) Award $0 +125K $0.00 125K Feb 10, 2022 Common Stock 125K $55.96 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 11, 2021, the reporting person was awarded a performance-based nonqualified stock option grant covering 120,000 shares of common stock. On February 10, 2022, the Compensation Committee of Calix, Inc. determined that the performance criteria governing 97.1% of the grant had been achieved, resulting in a nonqualified stock option award of 116,520 shares of common stock for the reporting person. The nonqualified stock option award shall vest: (i) as to 25% of the shares of common stock subject to the stock option award, on February 11, 2022; and (ii) as to the remaining 75% of the shares of common stock subject to the stock option award, quarterly in equal installments over 36 months from February 11, 2022.
F2 25% of each option grant will vest on the one-year anniversary of the grant date, with the remainder vesting quarterly thereafter in substantially equal installments over the next 36 months, subject to the employee's continued employment with Calix through the applicable vesting dates. Notwithstanding the foregoing, no shares issued upon exercise of the grant may be transferred in any manner prior to the second anniversary of the date such shares vested.