Erik J. Anderson - 18 May 2022 Form 4 Insider Report for CALLAWAY GOLF CO (MODG)

Role: Director
Signature: /s/ Erik J Anderson
Issuer symbol: MODG
Transactions as of: 18 May 2022
Net transactions value: -$621,600
Form type: 4
Filing time: 19 May 2022, 18:20:46 UTC
Previous filing: 18 May 2022
Next filing: 25 May 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MODG	Common Stock	Other	$621,600	-30,000	-4.6%	$20.72	621,821	18 May 2022	By WestRiver Management, LLC	F1, F2, F3
transaction	MODG	Common Stock	Options Exercise	$0	+4,063	+25%	$0.000000	20,092	19 May 2022	Direct	F4, F5
holding	MODG	Common Stock						2,737,484	18 May 2022	By TGP Investors, LLC	F3
holding	MODG	Common Stock						604,998	18 May 2022	By TGP Investors II, LLC	F3
holding	MODG	Common Stock						9,351	18 May 2022	By TGP Advisors, LLC	F3
holding	MODG	Common Stock						38,591	18 May 2022	By Anderson Family Investments, LLC	F3

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	Restricted Stock Units	Options Exercise	$0	-4,063	-100%	$0.000000^*	0	19 May 2022	Common Stock	4,063		Direct	F4, F5, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares of the Issuer's common stock transferred as compensation to employees of WestRiver Management.
F2	Represents the closing price of the Issuer's common stock on the date the shares were transferred in the transaction described in note 1.
F3	WestRiver Management, LLC ("WestRiver Management") is the sole managing member of TGP Advisors, LLC ("TGP Advisors") 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 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, TGP Manager, 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.
F4	Represents the number of shares of common stock issued upon the vesting of restricted stock units ("RSUs").
F5	RSUs convert into common stock on a one-for-one basis.
F6	The RSUs were granted on May 19, 2021 and vested on the first anniversary of the grant date.