Company: CALX
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001406666-25-000011
Chunk: 55

Company: CALIX, INC
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 55
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 that the ability to continue to offer the opportunity to purchase shares of our common stock under the purchase component and be issued matching shares of our common stock under the matching component is vital to our ability to continue to attract and retain employees in the labor markets in which we compete, our Board and our Talent and Compensation Committee have determined that the size of the increase in the share reserve under the purchase component and the matching component of the Stock Purchase and Matching Plan are reasonable and appropriate at this time.

A summary of the principal provisions of the Stock Purchase and Matching Plan is set forth below. The summary is qualified by reference to the full text of the Stock Purchase and Matching Plan, which is attached as Appendix B to this Proxy Statement.

#### Summary of the Stock Purchase and Matching Plan
Administration. The Stock Purchase and Matching Plan will be administered by our Talent and Compensation Committee, which, unless otherwise determined by the Board, will consist solely of two or more members of the Board, each of whom is intended to qualify as a “non-employee director” as defined by Rule 16b-3 of the Exchange Act and an “independent director” under the applicable exchange rules. The Administrator has broad authority to construe the Stock Purchase and Matching Plan and to make determinations with respect to the terms and conditions of each Offering Period under the Stock Purchase and Matching Plan, awards, designated subsidiaries and other matters pertaining to plan administration.

Shares Available Under the Stock Purchase and Matching Plan. Under the matching component of the Stock Purchase and Matching Plan, the maximum number of shares of our common stock which will be authorized for issuance is 2,923,400 shares. The Board has established an initial reserve under the matching component of 2,923,400 shares under the Stock Purchase and Matching Plan. Shares available for issuance under either component of the Stock Purchase and Matching Plan may be authorized but unissued shares or reacquired shares. Our Board has approved a reduction in the number of shares reserved for issuance under the ESPP by 2,500,000, subject to the approval of this Proposal No. 3 by our stockholders.

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Offerings. Under the Stock Purchase and Matching Plan, employees have the right to acquire shares of our common stock through payroll deductions accumulated over an Offering Period. The Offering Periods are three-month periods commencing on (i) May 8th and ending on August 7th; (ii) August 8th and ending on November 7th; (iii) November