John Matthew Collins - 10 Feb 2022 Form 4 Insider Report for CALIX, INC (CALX)

Role: EVP, Commercial Operations
Signature: /s/ Tom Gemetti as Attorney-in-fact for John Matthew Collins
Issuer symbol: CALX
Transactions as of: 10 Feb 2022
Net transactions value: $0
Form type: 4
Filing time: 11 Feb 2022, 15:13:59 UTC
Previous filing: 02 Nov 2021
Next filing: 01 Mar 2022
SEC: View on sec.gov

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	CALX	Stock Option (right to buy)	Award	$0	+116,520		$0.000000	116,520	10 Feb 2022	Common Stock	116,520	$36.74	Direct	F1
transaction	CALX	Stock Option (right to buy)	Award	$0	+125,000		$0.000000	125,000	10 Feb 2022	Common Stock	125,000	$55.96	Direct	F2

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

Explanation of Responses:

Id	Content
F1	On February 11, 2021, the reporting person was awarded a performance-based nonqualified stock option grant covering 120,000 shares of common stock. On February 10, 2022, the Compensation Committee of Calix, Inc. determined that the performance criteria governing 97.1% of the grant had been achieved, resulting in a nonqualified stock option award of 116,520 shares of common stock for the reporting person. The nonqualified stock option award shall vest: (i) as to 25% of the shares of common stock subject to the stock option award, on February 11, 2022; and (ii) as to the remaining 75% of the shares of common stock subject to the stock option award, quarterly in equal installments over 36 months from February 11, 2022.
F2	25% of each option grant will vest on the one-year anniversary of the grant date, with the remainder vesting quarterly thereafter in substantially equal installments over the next 36 months, subject to the employee's continued employment with Calix through the applicable vesting dates. Notwithstanding the foregoing, no shares issued upon exercise of the grant may be transferred in any manner prior to the second anniversary of the date such shares vested.

Content

On February 11, 2021, the reporting person was awarded a performance-based nonqualified stock option grant covering 120,000 shares of common stock. On February 10, 2022, the Compensation Committee of Calix, Inc. determined that the performance criteria governing 97.1% of the grant had been achieved, resulting in a nonqualified stock option award of 116,520 shares of common stock for the reporting person. The nonqualified stock option award shall vest: (i) as to 25% of the shares of common stock subject to the stock option award, on February 11, 2022; and (ii) as to the remaining 75% of the shares of common stock subject to the stock option award, quarterly in equal installments over 36 months from February 11, 2022.

25% of each option grant will vest on the one-year anniversary of the grant date, with the remainder vesting quarterly thereafter in substantially equal installments over the next 36 months, subject to the employee's continued employment with Calix through the applicable vesting dates. Notwithstanding the foregoing, no shares issued upon exercise of the grant may be transferred in any manner prior to the second anniversary of the date such shares vested.