Company: CALX
Filing Date: 2025-03-27
Form Type: 8-K
Source: 0001406666-25-000010
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Company: CALIX, INC
Filing Date: 2025-03-27
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Nomination of Director

On March 21, 2025, Ellie Fields notified Calix, Inc. (the “ Company”) that she would not be standing for re-election to the Board of Directors (“ Board”) of the Company upon the expiration of her term at the Company’s upcoming annual meeting of stockholders scheduled to be held on May 8, 2025. Ms. Fields’ decision was not the result of any disagreement with the Company or any matter relating to the Company’s operations, policies or practices. Also on March 21, 2025, the Board, acting upon the recommendation of the Nominating and Corporate Governance Committee of the Board, nominated Michael Berry for election to the Board as a Class III director with a term expiring at the 2028 annual meeting of stockholders, to fill the vacancy resulting from the expiration of Ms. Fields’ term at the annual meeting. Upon election to the Board, Mr. Berry will also be appointed to the Audit Committee and the Strategic Committee of the Board.

Pursuant to the Company’s director compensation policies, as a non-employee director, Mr. Berry will receive (i) a $60,000 annual retainer for his service on the Board, plus additional amounts for service on committees, pro-rated for the remainder of 2025 and paid in quarterly installments, (ii) upon his election to the Board, an automatic initial restricted stock award of $200,000 of Company common stock under the Company’s Amended and Restated 2019 Equity Incentive Award Plan that will vest in full on the earlier of the one-year anniversary of the date of award or the day immediately preceding the date of the Company’s 2026 annual meeting of stockholders, and (iii) an automatic annual restricted stock award of $200,000 of Company common stock under the Company’s Amended and Restated 2019 Equity Incentive Award Plan that will vest in full on the day immediately preceding the date of the Company’s next annual meeting of stockholders. The foregoing description is qualified in its entirety by reference to the text of (i) the Company’s Non-Employee Director Cash Compensation Policy, as amended March 19, 2025, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarterly period ending March 31,