Varsha Rajendra Rao Under A. - 15 Mar 2023 Form 4 Insider Report for Topgolf Callaway Brands Corp. (MODG)

Role: Director
Signature: /s/ Clinton Foss Attorney-in-Fact for Varsha Rajendra Rao under a Limited Power of Attorney dated November 21, 2022.
Issuer symbol: MODG
Transactions as of: 15 Mar 2023
Net transactions value: $0
Form type: 4
Filing time: 15 Mar 2023, 18:06:00 UTC
Previous filing: 15 Dec 2022
Next filing: 25 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	+1,045	+45%	$0.000000	3,348	15 Mar 2023	Direct	F1, F2
transaction	MODG	Common Stock	Award	$0	+1,168	+35%	$0.000000	4,516	15 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	-1,045	-100%	$0.000000^*	0	15 Mar 2023	Common Stock	1,045		Direct	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	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 March 31, 2023.
F4	The RSUs were granted on March 15, 2022 and vested on the first anniversary of the grant date.
F5	Represents only the RSUs granted on March 15, 2022 and does not include other RSUs with different vesting terms.