Brian P. Lynch - Feb 8, 2022 Form 4 Insider Report for CALLAWAY GOLF CO (MODG)

Role: EVP, CFO
Signature: /s/ Sarah Kim Attorney-in-Fact for Brian P. Lynch under a Limited Power of Attorney dated February 1, 2019.
Stock symbol: MODG
Transactions as of: Feb 8, 2022
Transactions value $: -$78,023
Form type: 4
Date filed: 2/10/2022, 05:54 PM
Previous filing: Dec 6, 2021
Next filing: Feb 14, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MODG	Common Stock	Options Exercise	$0	+5.54K		$0.00	5.54K	Feb 8, 2022	Direct	F1, F2
transaction	MODG	Common Stock	Tax liability	-$78K	-3.18K	-57.44%	$24.52	2.36K	Feb 8, 2022	Direct	F3
holding	MODG	Common Stock						21.6K	Feb 8, 2022	By Family Trust

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	-5.54K	-100%	$0.00^*	0	Feb 8, 2022	Common Stock	5.54K	$0.00	Direct	F1, F2, F4

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

Explanation of Responses:

Id	Content
F1	Represents the number of shares of common stock issued upon the vesting of restricted stock units ("RSUs") plus the number of shares of common stock accrued with respect to such vested portion of the RSUs as a result of dividend equivalent rights paid by the Company pursuant to the terms of the award. The number of shares reported on Table 1 does not include the fractional shares, which were paid in cash upon settlement.
F2	RSUs convert into common stock on a one-for-one basis.
F3	Represents the number of shares of common stock withheld by the Company to satisfy tax withholding requirements in connection with the RSU vesting.
F4	The RSUs were granted on February 8, 2019 and vest in three equal annual installments beginning on the first anniversary of the grant date. Therefore these RSUs have fully vested as of February 8, 2022.