Thomas G. Dundon - Sep 15, 2022 Form 4 Insider Report for Topgolf Callaway Brands Corp. (MODG)

Role: Director
Signature: /s/ Sarah Kim Attorney-in-Fact for Thomas G. Dundon under a Limited Power of Attorney dated March 8, 2021.
Stock symbol: MODG
Transactions as of: Sep 15, 2022
Transactions value $: $0
Form type: 4
Date filed: 9/15/2022, 05:29 PM
Previous filing: Jun 15, 2022
Next filing: Dec 15, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MODG	Common Stock	Award	$0	+1.11K	+2.15%	$0.00	52.6K	Sep 15, 2022	Direct	F1
holding	MODG	Common Stock						18.6M	Sep 15, 2022	By DDFS Partnership LP	F2

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

Explanation of Responses:

Id	Content
F1	The shares were issued in lieu of the cash retainer otherwise payable to the reporting person under the issuers non-employee director compensation program for the quarter ending September 30, 2022.
F2	Mr. Dundon is the sole member of DDFS Management Company LLC, which is the sole general partner of DDFS Partnership LP. As a result, each of Mr. Dundon and DDFS Management Company LLC may be deemed to beneficially own the securities reported herein, but each disclaims such beneficial ownership except to the extent of his or its pecuniary interest therein. The filing of this statement shall not be deemed to be an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the reporting persons are the beneficial owners of any securities reported herein.

Content

The shares were issued in lieu of the cash retainer otherwise payable to the reporting person under the issuers non-employee director compensation program for the quarter ending September 30, 2022.

Mr. Dundon is the sole member of DDFS Management Company LLC, which is the sole general partner of DDFS Partnership LP. As a result, each of Mr. Dundon and DDFS Management Company LLC may be deemed to beneficially own the securities reported herein, but each disclaims such beneficial ownership except to the extent of his or its pecuniary interest therein. The filing of this statement shall not be deemed to be an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the reporting persons are the beneficial owners of any securities reported herein.