Rebecca Fine Under A. - 31 Dec 2025 Form 4 Insider Report for Topgolf Callaway Brands Corp. (MODG)

Role
EVP, Global CPO
Signature
/s/ Clinton Foss Attorney-in-Fact for Rebecca Fine under a Limited Power of Attorney dated November 30, 2023.
Issuer symbol
MODG
Transactions as of
31 Dec 2025
Net transactions value
-$266,216
Form type
4
Filing time
02 Jan 2026, 16:38:47 UTC
Previous filing
28 Aug 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Fine Rebecca EVP, Global CPO 2180 RUTHERFORD ROAD, CARLSBAD /s/ Clinton Foss Attorney-in-Fact for Rebecca Fine under a Limited Power of Attorney dated November 30, 2023. 02 Jan 2026 0001302279

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MODG Common Stock Options Exercise $0 +4,355 +5.8% $0.000000 79,112 31 Dec 2025 Direct F1, F2
transaction MODG Common Stock Tax liability $12,382 -1,061 -1.3% $11.67 78,051 31 Dec 2025 Direct F3
transaction MODG Common Stock Options Exercise $0 +16,152 +21% $0.000000 94,203 31 Dec 2025 Direct F1, F2
transaction MODG Common Stock Tax liability $45,910 -3,934 -4.2% $11.67 90,269 31 Dec 2025 Direct F3
transaction MODG Common Stock Options Exercise $0 +34,092 +38% $0.000000 124,361 31 Dec 2025 Direct F1, F2
transaction MODG Common Stock Tax liability $128,393 -11,002 -8.8% $11.67 113,359 31 Dec 2025 Direct F3
transaction MODG Common Stock Options Exercise $0 +17,317 +15% $0.000000 130,676 31 Dec 2025 Direct F1, F2
transaction MODG Common Stock Tax liability $79,531 -6,815 -5.2% $11.67 123,861 31 Dec 2025 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 -4,355 -100% $0.000000 0 31 Dec 2025 Common Stock 4,355 Direct F1, F2, F4
transaction MODG Restricted Stock Units Options Exercise $0 -16,152 -100% $0.000000 0 31 Dec 2025 Common Stock 16,152 Direct F1, F2, F5
transaction MODG Restricted Stock Units Options Exercise $0 -34,092 -100% $0.000000 0 31 Dec 2025 Common Stock 34,092 Direct F1, F2, F6
transaction MODG Restricted Stock Units Options Exercise $0 -17,317 -100% $0.000000 0 31 Dec 2025 Common Stock 17,317 Direct F1, F2, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Rebecca Fine Under A. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

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 Per the terms of the reporting persons' separation from the Company, her restricted stock units have fully vested effective December 31, 2025, relating to the 4,355 restricted stock units which were originally scheduled to vest on February 22, 2026.
F5 Per the terms of the reporting persons' separation from the Company, her restricted stock units have fully vested effective December 31, 2025, relating to the 16,152 restricted stock units which were originally scheduled to vest on February 6, 2026 and February 6, 2027.
F6 Per the terms of the reporting persons' separation from the Company, her restricted stock units have partially vested effective December 31, 2025, relating to the 34,092 restricted stock units which were originally scheduled to vest on March 14, 2026 and March 14, 2027.
F7 Per the terms of the reporting persons' separation from the Company, her restricted stock units have fully vested effective December 31, 2025, relating to the 17,317 restricted stock units which were originally scheduled to vest on August 26, 2026.