Company: CALX
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001406666-25-000011
Chunk: 94

Company: CALIX, INC
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 94
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, upon the recommendation of the Talent and Compensation Committee after its review of market data and the analysis and recommendation of its compensation advisor, the Board amended our Non-Employee Director Cash Compensation Policy to increase our annual base, lead independent director, committee chair and committee non-chair retainers effective April 1, 2025, as follows: (i) base board retainer from $50,000 to $60,000; (ii) lead independent director retainer from $25,000 to $35,000; (iii) nominating and corporate governance committee chair from $10,000 to $12,000; and (iv) nominating and corporate governance committee non-chair from $5,000 to $5,500.

Further, the Talent and Compensation Committee amended our Non-Employee Director Equity Compensation Policy to provide for equity compensation in the form of RSAs rather than stock options, effective at the Annual Meeting. Under the amended Non-Employee Director Equity Compensation Policy, each non-employee director newly elected or appointed to the Board will automatically be granted an RSA valued at $200,000 (based on the per share closing price of our common stock on the date such director commences service) upon their election or appointment to the Board. The initial grant is prorated based on the non-employee director's start date through the applicable vesting date and will vest with respect to 100% of the RSAs on the earlier of the one-year anniversary of the date of grant or the day immediately preceding the date of the next annual meeting of stockholders following the year of grant.

Each director who is a non-employee director immediately following each annual meeting of stockholders, provided such director has served as a director for at least six months prior to such date, will also automatically be granted RSAs valued at $200,000 (based on the per share closing price of our common stock on the date such annual meeting of stockholders). The annual grant vests as to 100% of the RSAs on the day immediately prior to the date of the next annual meeting of stockholders following the date of grant, subject to continued Board service to Calix through the applicable vesting date.

#### Limits on Non-Employee Director Equity Awards
Under our 2019 Plan, the grant date fair value of equity-based awards granted to a non-employee director during any calendar year shall not exceed $750,000, which will increase to $1,500,000 if Proposal No. 2 is approved by our stockholders.

#### Director