Company: CALX
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001406666-25-000011
Chunk: 37

Company: CALIX, INC
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 37
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 The 2019 Plan was last amended and restated by our Board in February 2023 and the amendment and restatement was approved by our stockholders in May 2023.

The 2019 Plan includes provisions that implement compensation and governance best practices to ensure our equity compensation aligns employee interests with that of our stockholders and incentivizes the creation of long-term stockholder value. Accordingly, our Board and Talent and Compensation Committee believe that the share increase to the 2019 Plan is reasonable and appropriate at this time. Based on our projected usage of shares authorized for issuance under the Plan and our reasonable expectation of future equity usage, we believe that the number of shares being requested for authorization under the Plan is equivalent to what we anticipate as two to three years of usage based on expected key hires and aggregate equity need in a highly competitive talent market; share usage is ultimately dependent on factors such as stock price movement, participation levels and corporate activities that could impact our grant practices.

Employees and consultants of the Company, its subsidiaries and affiliates, as well as members of our Board, are eligible to receive awards under the 2019 Plan. The 2019 Plan provides for the grant of incentive stock options (“ISOs”) nonqualified stock options (“NQSOs”), stock appreciation rights (“SARs”), restricted stock, restricted stock units (“RSUs”), other stock or cash-based awards and dividend equivalents to eligible individuals.

Our stockholders last approved an increase in the shares authorized for issuance under the 2019 Plan in May 2023 which increased the shares authorized for issuance under the 2019 Plan from 11,929,039 shares to 13,429,039 shares. As of March 11, 2025, we had an aggregate of 66,648,716 shares of common stock outstanding and a total of approximately 0.6 million shares of common stock reserved for issuance and available for future grants under the 2019 Plan. As of March 11, 2025, there were approximately 14,356,806 shares of common stock subject to options outstanding under the 2019 Plan and our other equity incentive plans and arrangements (other than our Third Amended and Restated Employee Stock Purchase Plan and our Third Amended and Restated 2017 Nonqualified Employee Stock Purchase Plan), with an approximate weighted average exercise price of the outstanding options of $35.00 per share and an approximate weighted average remaining contractual term for the outstanding options of 7.4 years. We expect that the additional 4