Company: CALX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001406666-25-000045
Chunk: 21

Company: CALIX, INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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5, there were 2.9 million shares and 2.8 million shares available for issuance under the SPMP purchase and matching components, respectively. During the nine months ended September 27, 2025, 0.7 million shares were purchased and issued. As of September 27, 2025, unrecognized stock-based compensation expense of $12.9 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 EndedNine Months EndedSeptember 27,2025September 28,2024September 27,2025September 28,2024Cost of revenue$753 $770 $2,297 $2,113 Sales and marketing6,158 4,630 23,674 13,672 Research and development5,965 4,783 16,935 13,695 General and administrative7,742 6,188 23,069 19,206 $20,618 $16,371 $65,975 $48,686 Income tax benefit recognized$1,584 $2,688 $7,071 $8,114 

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Table of Contents

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 September 27, 2025, the Company purchased 0.1 million shares of common stock for an aggregate purchase price of $3.5 million at an average price per share of $59.20. During the nine months ended September 27, 2025, the Company purchased 2.2 million shares of common stock for