Company: CALX
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001406666-25-000035
Chunk: 21

Company: CALIX, INC
Filing Date: 2025-07-22
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 7th of each year, with a maximum of 0.35 million shares allocated per purchase period for the combination of the purchase and matching components. As of June 28, 2025, there were 1.8 million shares available for issuance under the NQ ESPP. During the six months ended June 28, 2025, 0.5 million shares were purchased and issued. As of June 28, 2025, unrecognized stock-based compensation expense of $12.0 million related to the NQ ESPP is expected to be recognized over a remaining weighted-average service period of 0.8 years.Stock-Based CompensationThe following table summarizes stock-based compensation expense (in thousands): Three Months EndedSix Months EndedJune 28,2025June 29,2024June 28,2025June 29,2024Cost of revenue$764 $707 $1,544 $1,343 Sales and marketing11,047 4,191 17,516 9,041 Research and development5,890 4,398 10,971 8,913 General and administrative7,912 6,162 15,326 13,018 $25,613 $15,458 $45,357 $32,315 Income tax benefit recognized$3,664 $2,114 $5,157 $5,426 Stock Repurchase ProgramThe Company maintains a common stock repurchase program. Under the repurchase program, repurchases can be made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or otherwise, all in accordance with the rules of the SEC and other applicable legal requirements. The specific timing, price and size of the purchases depends on prevailing stock prices, general economic and market conditions and other considerations consistent with the Company’s capital allocation strategy. The repurchase program does not obligate the Company to acquire a particular amount of common stock, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion. In April 2025, the Company’s Board of Directors authorized a $100.0 million increase to this program. During the three months ended June 28, 2025, the Company purchased 1.0 million shares of common stock for an aggregate purchase price of $33.6 million at an average price per share of $33.24. During the six months ended