Company: CALX
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001406666-25-000008
Chunk: 97

Company: CALIX, INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 97
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% of the shares underlying the PSOs were immediately forfeited. Stock-based compensation expense of $13.1 million was recognized for the year ended December 31, 2024 related to these PSOs.

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The following table summarizes the stock option activity under the Company’s equity incentive plans (in thousands, except per share data):Weighted-AverageWeighted-RemainingAverageContractualAggregateNumber ofExercise PriceLifeIntrinsicSharesPer Share(in years)   Value (1)Outstanding as of December 31, 202310,323 $34.37 Granted2,968 34.03 Exercised(290)9.59 Canceled(818)51.88 Outstanding as of December 31, 202412,183 $33.70 7.0$94,885 Vested and expected to vest as of December 31, 202411,874 $33.58 6.9$94,571 Options exercisable as of December 31, 20247,120 $28.61 5.8$91,658                                                                                   (1) Amounts represent the difference between the exercise price and the fair market value of common stock at December 31, 2024 of $34.87 per share for all “in-the-money” options outstanding.During the years ended December 31, 2024, 2023 and 2022, total intrinsic value of stock options exercised was $9.0 million, $16.7 million and $31.0 million, respectively. Cash received from employee stock option exercises in 2024, 2023 and 2022 was $2.8 million, $5.2 million and $6.7 million, respectively.Employee Stock Purchase PlansThe ESPP allows eligible employees to purchase shares of the Company’s common stock through payroll deductions of up to 15% of their eligible compensation subject to certain Internal Revenue Code limitations. In addition, participants may purchase up to 2,000 shares of common stock in each offering period.The offering periods under the ESPP are two six-month offering periods from August 15th through February 14th and February 15th through August 14th of each year. The price of common stock purchased under the ESPP is 85% of the lower of the fair market value of the common stock on the commencement date and the end date