Company: CALX
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001406666-25-000011
Chunk: 72

Company: CALIX, INC
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 72
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 participants, including our NEOs, based on a proportional amount of the funded pool once performance has been determined. Therefore, participants do not have a target opportunity similar to our other component.

|                         |     | Aggregate Quarterly 
  Target Opportunity |     |                                |
| Named Executive Officer |     |        Dollar Value |     | As a Percentage of Base Salary |
| Michael Weening         |     |            $840,000 |     | 150%                           |
| Cory Sindelar           |     |            $364,275 |     | 75%                            |
| J. Matthew Collins      |     |            $321,450 |     | 75%                            |
| Shane Eleniak           |     |            $321,450 |     | 75%                            |

Once the total incentive pool for our executive cash incentive plan is funded, our Talent and Compensation Committee retains discretion to adjust cash incentive compensation paid to each individual up or down, ranging from 50% to 200% of the funded amounts for each individual’s executive cash incentive plan opportunity for the year, based upon assessment of individual performance. Our CEO provides his assessment of individual NEO performance for our Talent and Compensation Committee’s determination of actual cash incentive payout of amounts funded under the plan. Our CEO’s performance is evaluated and determined solely by our Talent and Compensation Committee.

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2024 Executive Cash Incentive Plan Achievement

The table below sets forth the quarterly financial targets and achievement applicable to the two separately funded cash bonus opportunities under our cash incentive plan for each fiscal quarter of 2024. For the first bonus opportunity, actual achievement was 92.3% and 94.5% of target in the first and second quarters, respectively, and 105.5% and 101.7% of target in the third and fourth quarters, respectively. For the second bonus opportunity, our non-GAAP gross margin exceeded the target in the second and third quarters. However, non-GAAP gross margin was below target in the first and fourth quarters, which resulted in no funding for those quarters for the non-GAAP gross margin component. In the aggregate, this resulted in a payout of 98.5% of target.

| Fiscal Quarter |     | Quarterly Revenue/Non-GAAP Operating Income 
 Revenue (in millions)                       
 Threshold                                   |       |     | Target |       |     | Actual |       |     | Non-GAAP Operating Income 
 (in millions) (1)         
 Threshold                 |