Company: CALX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001406666-25-000045
Chunk: 53

Company: CALIX, INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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 Company’s common stock on the last day of such offering period and (b) receive an equal number of shares of the Company’s common stock that are subject to a risk of forfeiture in the event the employee terminates employment within the one year period immediately following the purchase date. The SPMP provides quarterly offering periods from February 8th through May 7th, May 8th through August 7th, August 8th through November 7th and November 8th through February 7th of each year, with a maximum of 0.35 million shares allocated per purchase period for the combination of the purchase and matching components. As of September 27, 2025, 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 rep