Company: CALX
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001406666-25-000008
Chunk: 166

Company: CALIX, INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 166
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5.15 %5.31 %2.16 %In addition, the Company applies an estimated forfeiture rate to awards granted and records stock-based compensation expense only for those awards that are expected to vest. Forfeiture rates are estimated at the time of grant based on the Company’s 

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historical experience. Further, to the extent the Company’s actual forfeiture rate is different from management’s estimate, stock-based compensation is adjusted accordingly.As of December 31, 2024, unrecognized stock-based compensation expense by award type, net of estimated forfeitures, and their expected weighted-average recognition periods are summarized in the following table (in thousands).Stock OptionESPPsUnrecognized stock-based compensation expense$64,207 $13,661 Weighted-average amortization period (in years)1.70.8The Company expects to recognize stock-based compensation expense of $49.0 million in 2025, $21.4 million in 2026, $6.6 million in 2027 and $0.9 million in 2028. Shares Reserved for Future Issuance As of December 31, 2024, the Company had common shares reserved for future issuance as follows (in thousands):Stock options outstanding12,183 Shares available for future grant under 2019 Plan2,840 Shares available for future issuance under ESPP4,218 Shares available for future issuance under NQ ESPP2,241 21,482 

7.  Employee Benefit Plan

The Company sponsors a 401(k) tax-deferred savings plan for all employees who meet certain eligibility requirements. Participants may contribute, on a pre-tax basis, a percentage of their annual compensation, but not to exceed a maximum contribution amount pursuant to Section 401(k) of the Internal Revenue Code. The Company, at the discretion of the Board of Directors, may make additional matching contributions on behalf of the participants. The Company made matching contributions totaling $5.5 million, $5.2 million and $4.1 million in 2024, 2023 and 2022, respectively.

8.  Accumulated Other Comprehensive Loss

The table below summarizes the changes in accumulated other comprehensive loss by component:Unrealized Gains and Losses on Available-for-Sale Marketable SecuritiesForeign Currency Translation AdjustmentsTotalBalance as of December 31, 2022$(1,700)$(773)$(2,473)Other comprehensive income1,701 113 1,814