Erik J. Anderson - Nov 16, 2021 Form 4 Insider Report for CALLAWAY GOLF CO (MODG)

Role
Director
Signature
/s/ Erik J Anderson
Stock symbol
MODG
Transactions as of
Nov 16, 2021
Transactions value $
-$1,489,297
Form type
4
Date filed
11/17/2021, 03:35 PM
Previous filing
Oct 1, 2021
Next filing
Dec 1, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MODG Common Stock Options Exercise $118K +17.1K +91.32% $6.91 35.8K Nov 16, 2021 By TGP Advisors, LLC F2
transaction MODG Common Stock Sale -$512K -17.1K -47.73% $30.00 18.7K Nov 16, 2021 By TGP Advisors, LLC F1, F2
transaction MODG Common Stock Options Exercise $2.59M +123K +656.37% $21.08 141K Nov 16, 2021 By TGP Advisors, LLC F2
transaction MODG Common Stock Sale -$3.68M -123K -86.78% $30.00 18.7K Nov 16, 2021 By TGP Advisors, LLC F1, F2
holding MODG Common Stock 5.47M Nov 16, 2021 By TGP Investors, LLC F2
holding MODG Common Stock 1.21M Nov 16, 2021 By TGP Investors II, LLC F2
holding MODG Common Stock 512K Nov 16, 2021 By WestRiver Management, LLC F2
holding MODG Common Stock 48.6K Nov 16, 2021 By Anderson Family Investments, LLC F2
holding MODG Common Stock 10.3K Nov 16, 2021 Direct

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 MODG Non-Qualified Stock Option (Right to Buy) Options Exercise $0 -17.1K -80% $0.00 4.27K Nov 16, 2021 Common Stock 17.1K $6.91 By TGP Advisors, LLC F2, F3
transaction MODG Non-Qualified Stock Option (Right to Buy) Options Exercise $0 -123K -82.14% $0.00 26.7K Nov 16, 2021 Common Stock 123K $21.08 By TGP Advisors, LLC F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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 $30.00 to $30.09. 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.
F2 WestRiver Management is the sole managing member of TGP Advisors, LLC and TGP Manager, LLC ("TGP Manager"). TGP Manager is the sole managing member of TGP Investors, LLC ("TGP") and TGP Investors II, LLC ("TGP II) and in such capacity is responsible for voting decisions with respect to certain matters regarding the Issuer's securities held by TGP and TGP II. 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 TGP, TGP II, TGP Advisors, 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.
F3 The stock option is currently exercisable.