Erik J. Anderson - Feb 28, 2023 Form 4 Insider Report for Topgolf Callaway Brands Corp. (MODG)

Role: Director
Signature: /s/ Erik J Anderson
Stock symbol: MODG
Transactions as of: Feb 28, 2023
Transactions value $: -$586,250
Form type: 4
Date filed: 3/1/2023, 03:05 PM
Previous filing: Feb 7, 2023
Next filing: Mar 8, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MODG	Common Stock	Sale	-$586K	-25K	-4.21%	$23.45	569K	Feb 28, 2023	By WestRiver Management, LLC	F1
holding	MODG	Common Stock						2.74M	Feb 28, 2023	By TGP Investors, LLC	F1
holding	MODG	Common Stock						605K	Feb 28, 2023	By TGP Investors II, LLC	F1
holding	MODG	Common Stock						9.35K	Feb 28, 2023	By TGP Advisors, LLC	F1
holding	MODG	Common Stock						38.6K	Feb 28, 2023	By Anderson Family Investments, LLC	F1
holding	MODG	Common Stock						20.1K	Feb 28, 2023	Direct

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

Explanation of Responses:

Id	Content
F1	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.

Content

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.