Rebecca Fine Under A. - 08 Mar 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.
Issuer symbol: MODG
Transactions as of: 08 Mar 2023
Net transactions value: -$36,206
Form type: 4
Filing time: 09 Mar 2023, 15:57:29 UTC
Previous filing: 23 Feb 2023
Next filing: 22 May 2023
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	+6,424	+70%	$0.000000	15,578	08 Mar 2023	Direct	F1, F2
transaction	MODG	Common Stock	Tax liability	$36,206	-1,566	-10%	$23.12	14,012	08 Mar 2023	Direct	F3

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	-6,424	-50%	$0.000000	6,424	08 Mar 2023	Common Stock	6,424	$0.000000	Direct	F1, F2, F4, F5

* 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").
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 March 8, 2021 and vest in three equal annual installments beginning on the first anniversary of the grant date.
F5	Represents only the unvested portion of the RSUs granted on March 8, 2021 and does not include other RSUs with different vesting terms.