Brian P. Lynch - 12 Feb 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.
Issuer symbol: MODG
Transactions as of: 12 Feb 2022
Transactions value $: -$115,173
Form type: 4
Filing time: 14 Feb 2022, 15:35:29 UTC
Previous filing: 10 Feb 2022
Next filing: 22 Feb 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	Options Exercise	$0	+5.21K	+220.74%	$0.00	7.56K	12 Feb 2022	Direct	F1, F2
transaction	MODG	Common Stock	Tax liability	-$64.4K	-2.81K	-37.15%	$22.92	4.75K	12 Feb 2022	Direct	F3
transaction	MODG	Common Stock	Options Exercise	$0	+4.1K	+86.3%	$0.00	8.86K	12 Feb 2022	Direct	F2, F4
transaction	MODG	Common Stock	Tax liability	-$50.8K	-2.22K	-25.01%	$22.92	6.64K	12 Feb 2022	Direct	F3
holding	MODG	Common Stock						21.6K	12 Feb 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	-5.21K	-50%	$0.00	5.2K	12 Feb 2022	Common Stock	5.21K	$0.00	Direct	F1, F2, F5, F6
transaction	MODG	Restricted Stock Units	Options Exercise	$0	-4.1K	-33.34%	$0.00	8.2K	12 Feb 2022	Common Stock	4.1K	$0.00	Direct	F2, F4, F7, F8

* 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	Represents the number of shares of common stock issued upon the vesting of restricted stock units ("RSUs").
F5	The RSUs were granted on February 12, 2020 and vest in three equal annual installments beginning on the first anniversary of the grant date.
F6	Represents only the unvested portion of the RSUs granted on February 12, 2020 plus the number of shares of common stock accrued with respect to such unvested portion of the RSUs as a result of dividend equivalent rights to be paid by the Company pursuant to the terms of the award and does not include other RSUs with different vesting terms.
F7	The RSUs were granted on February 12, 2021 and vest in three equal annual installments beginning on the first anniversary of the grant date.
F8	Represents only the unvested portion of the RSUs granted on February 12, 2021 and does not include other RSUs with different vesting terms.