Company: CALX
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001406666-25-000011
Chunk: 57

Company: CALIX, INC
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 57
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 the United States are eligible to participate in the Stock Purchase and Matching Plan. None of our executive officers are eligible to participate in the Stock Purchase and Matching Plan. In addition, consultants and non-employee directors are not eligible to participate in the Stock Purchase and Matching Plan.

Payroll Deductions. The payroll deductions made under the purchase component of the Stock Purchase and Matching Plan for each participant may be not less than 1% nor more than 25% of a participant’s compensation. Compensation is defined in the Stock Purchase and Matching Plan and generally includes cash remuneration that would be reported as income for federal income tax purposes. A participant may decrease (but not increase) his or her payroll deduction authorization once during any Offering Period. If a participant wishes to increase or decrease the rate of payroll withholding, he or she may do so effective for the next Offering Period by submitting a new election. In addition, employees may contribute up to 50% of new-hire, special performance, or retention bonuses per pay period. The employee contribution shall not exceed the employee’s total net earnings for the pay period.

Exercise Date; Purchase of Stock . The “Exercise Date” of each Offering Period under the purchase component occurs on the last trading day of each Offering Period. On the Exercise Date, accumulated payroll deductions for each participant will be used to (i) purchase whole shares of common stock under the purchase component at a purchase price equal to the closing trading price of our common stock on the Exercise Date (the “Purchased Shares”) and (ii) we will issue an equal number of Restricted Shares under the matching component. On March 11, 2025, the closing price of our common stock on the NYSE was $31.47 per share.

A participant may cancel his or her payroll deduction authorization and elect to withdraw from the Stock Purchase and Matching Plan by delivering written notice of such election to the Company. Upon cancellation, the participant may elect either to withdraw all of the funds then credited to his or her Stock Purchase and Matching Plan account and withdraw from the Stock Purchase and Matching Plan or have the balance of his or her account applied to the purchase of Purchased Shares under the purchase component and acquisition of Restricted Shares under the matching component for the Offering Period in which his or her cancellation is effective (with any remaining Stock Purchase and Matching Plan account balance returned to the participant). A participant who ceases contributions to the Stock Purchase and Matching Plan during any Offering Period shall not be permitted to resume contributions to the Stock Purchase and Matching Plan during the same Offering