Company: CALX
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001406666-25-000011
Chunk: 71

Company: CALIX, INC
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 71
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 and software platforms. In 2024, our Talent and Compensation Committee established our quarterly and annual corporate financial targets based on the annual operating plan approved by our Board at the beginning of the year and based on quarterly financial information prepared by management.

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The following chart summarizes key features of our 2024 executive cash incentive plan.

| Bonus Component                         |     | Description                                                                                                                                                                                                          |
| Revenue / Non-GAAP Operating Income (1) |     | •Each component is measured quarterly and pays out semiannually;                                                                                                                                                     
 •Total payout opportunity is capped at 110% of target based on pre-established revenue (50%) and non-GAAP operating income (50%) goals;                                                                              
 •Both revenue and non-GAAP operating income thresholds must be achieved for the respective quarterly metric to be funded; and                                                                                        
 •The plan is intended to drive focus on delivering on the business plan which aligns with long-term value creation.                                                                                                  |
| Non-GAAP Gross Margin (2)               |     | •Participants can earn incremental compensation as gross margin improves, which we believe focuses our NEOs on profitable growth, and which we believe is critical to our continued success;                         
 •Specifically, the plan is funded based on 25% of the gross margin dollars that exceed target (on a quarterly basis). If our non-GAAP gross margin is at or below the quarterly target, the bonus is not funded; and 
 •The resulting pool is allocated to participants based on base salary.                                                                                                                                               |

(1) Non-GAAP operating income for the purposes of the executive cash incentive plan is calculated as operating income on a GAAP basis less certain items that are not considered indicative of our performance, consisting of: stock-based compensation, intangible asset amortization and other charges. Reconciliation is provided in Appendix C.

(2) Non-GAAP gross margin for the purposes of the executive cash incentive plan is calculated as gross margin on a GAAP basis less certain items that are not considered indicative of our performance, consisting of: stock-based compensation, intangible asset amortization and other charges. Reconciliation is provided in Appendix C.

#### Total Executive Cash Incentive Plan Opportunity
The 2024 executive cash incentive plan opportunity as a percentage of base salary for the quarterly revenue and non-GAAP operating income as set by our Talent and Compensation Committee for each of our NEOs is listed in the table below. The payout for our second cash bonus component (the non-GAAP gross margin component) is allocated to