Artie Starrs - 05 Apr 2023 Form 4 Insider Report for Topgolf Callaway Brands Corp. (MODG)

Role: CEO, Topgolf
Signature: /s/ Clinton Foss Attorney-in-Fact for Artie Starrs under a Limited Power of Attorney dated November 22, 2022.
Issuer symbol: MODG
Transactions as of: 05 Apr 2023
Net transactions value: -$211,443
Form type: 4
Filing time: 05 Apr 2023, 17:36:09 UTC
Previous filing: 23 Feb 2023
Next filing: 16 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	+25,782	+47%	$0.000000	80,845	05 Apr 2023	Direct	F1, F2
transaction	MODG	Common Stock	Tax liability	$211,443	-10,146	-13%	$20.84	70,699	05 Apr 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	-25,782	-50%	$0.000000	25,781	05 Apr 2023	Common Stock	25,782	$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 April 5, 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 April 5, 2021 and does not include other RSUs with different vesting terms.