Rebecca Fine - Feb 12, 2023 Form 4 Insider Report for Topgolf Callaway Brands Corp. (MODG)

Role: EVP, Chief People Officer
Signature: /s/ Clinton Foss Attorney-in-Fact for Rebecca Fine under a Limited Power of Attorney dated November 22, 2022.
Stock symbol: MODG
Transactions as of: Feb 12, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/14/2023, 03:34 PM
Previous filing: May 17, 2022
Next filing: Feb 17, 2023

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	Performance Stock Unit	Award	$0	+1.05K	+59.94%	$0.00	2.81K	Feb 12, 2023	Common Stock	1.05K		Direct	F1, F2, F3

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

Explanation of Responses:

Id	Content
F1	Each PSU represents a contingent right to receive one share of common stock, subject to the achievement of applicable performance criteria.
F2	On March 8, 2021, the Reporting Person was granted PSUs, the vesting of which is subject to the achievement of certain performance criteria. The number of shares reported represents the number of PSUs that were earned as a result of the achievement of such performance criteria. Such PSUs converted to time-based units that will vest on the third anniversary of the grant date subject to continued employment through such date.
F3	Represents the aggregate number of PSUs originally granted on March 8, 2021 that have been earned as a result of the achievement of the applicable performance criteria.