Carl Russo - 04 Nov 2025 Form 4 Insider Report for CALIX, INC ((CALX))

Role
Director, 10%+ Owner
Signature
/s/ Tom Gemetti as Attorney-in-Fact for Carl Russo
Issuer symbol
(CALX)
Transactions as of
04 Nov 2025
Transactions value $
-$24,393,367
Form type
4
Filing time
06 Nov 2025, 13:57:10 UTC
Previous filing
01 Oct 2025
Next filing
18 Nov 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Russo Carl Director, 10%+ Owner C/O CALIX, INC., 3155 OLSEN DRIVE, SUITE 450, SAN JOSE /s/ Tom Gemetti as Attorney-in-Fact for Carl Russo 06 Nov 2025 0001483757

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction (CALX) Common Stock Sale -$25.3M -395K -18.68% $64.00 1.72M 04 Nov 2025 See Footnote F1
transaction (CALX) Common Stock Sale -$784K -12K -0.7% $65.11 1.71M 04 Nov 2025 See Footnote F1, F2, F3
transaction (CALX) Common Stock Sale -$848K -12.8K -0.75% $66.00 1.69M 04 Nov 2025 See Footnote F1, F2, F4
transaction (CALX) Common Stock Sale -$7.98K -120 -0.01% $66.47 1.69M 04 Nov 2025 See Footnote F1, F2
transaction (CALX) Common Stock Options Exercise $2.53M +200K +5.33% $12.63 3.95M 06 Nov 2025 Direct
holding (CALX) Common Stock 13.8K 04 Nov 2025 See Footnote F5

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) Options Exercise $0 -200K -25% $0.00 600K 06 Nov 2025 Common Stock 200K $12.63 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Shares held by The Crescentico Trust, Carl Russo, Trustee.
F2 Sales reported on the Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on April 25, 2025.
F3 The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $64.44 to $65.40, inclusive. Full information on the number of shares sold at each sale price is available upon request.
F4 The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $65.45 to $66.325, inclusive. Full information on the number of shares sold at each sale price is available upon request.
F5 Shares held by Equanimous Investments. The managing members of Equanimous Investments are Carl Russo and Tim Pasquinelli. These individuals may be deemed to have shared voting and investment power over the shares held by Equanimous Investments. Each of these individuals disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
F6 100% of the shares subject to the option were fully vested and exercisable on May 22, 2024.