Company: CALX
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001406666-25-000035
Chunk: 19

Company: CALIX, INC
Filing Date: 2025-07-22
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 a grant date weighted-average exercise price of $42.02 per share. These stock option awards vest 25% on the first anniversary of the vesting commencement date and on a quarterly basis thereafter over an additional three years.During the three months ended June 28, 2025, 0.3 million shares of common stock were issued pursuant to the exercise of stock options at a weighted-average exercise price of $25.15 per share. During the six months ended June 28, 2025, 0.4 million shares of common stock were issued pursuant to the exercise of stock options at a weighted-average exercise price of $25.98 per share. As of June 28, 2025, unrecognized stock-based compensation expense of $93.5 million related to stock options, net of estimated forfeitures, is expected to be recognized over a weighted-average period of 2.4 years.During the three and six months ended June 28, 2025, 38,000 restricted stock awards, with a one-year vesting period, were granted to the Company’s Board of Directors with a grant date fair value of $42.65 per share. As of June 28, 2025, unrecognized stock-based compensation expense of $1.4 million related to restricted stock awards, net of estimated forfeitures, is expected to be recognized over a weighted-average period of 0.9 years.During the three months ended June 28, 2025, the Compensation Committee of the Company’s Board of Directors modified an executive’s stock options to accelerate vesting and extend the exercise period for outstanding grants. As a result, a charge of $4.9 million was recognized for the three months ended June 28, 2025.Employee Stock Purchase PlansThe Company maintains two plans under which employees can purchase Company common stock - the Amended and Restated Employee Stock Purchase Plan (the “ESPP”) and the non-executive Stock Purchase and Matching Plan (“SPMP”). In March 2025, the Company’s Board of Directors approved amending and restating the Third Amended and Restated 2017 Nonqualified Employee Stock Purchase Plan (the “NQ ESPP”) as the SPMP, which better describes the nature of the plan whereby when a non-executive employee buys a share, the Company matches it. The Company’s Board of Directors approval included reserving 2.9 million shares of Company common stock under each of