Company: CALX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001406666-25-000045
Chunk: 51

Company: CALIX, INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 51
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 assessed to be probable as of September 27, 2025, and stock-based compensation expense of $6.6 million was recognized for the three months ended September 27, 2025. For the nine months ended September 27, 2025, stock-based compensation expense of $17.4 million was recognized.During the three months ended September 27, 2025, stock option awards exercisable for up to an aggregate of 0.4 million shares of common stock were granted with a grant date weighted-average exercise price of $56.67 per share. During the nine months ended September 27, 2025, stock option awards exercisable for up to an aggregate of 1.0 million shares of common stock were granted with a grant date weighted-average exercise price of $47.39 per share. These stock option awards generally vest 25% on the first anniversary of the vesting commencement date and on a quarterly basis thereafter over an additional three years.During the three months ended September 27, 2025, 0.7 million shares of common stock were issued pursuant to the exercise of stock options at a weighted-average exercise price of $11.09 per share. During the nine months ended September 27, 2025, 1.1 million shares of common stock were issued pursuant to the exercise of stock options at a weighted-average exercise price of $15.85 per share. As of September 27, 2025, unrecognized stock-based compensation expense of $89.0 million related to stock options, net of estimated forfeitures, is expected to be recognized over a weighted-average period of 2.3 years.During the nine months ended September 27, 2025, 38,000 restricted stock awards, with a one-year vesting period, were granted to the Company’s Board of Directors with a grant date fair value of $42.65 per share. As of September 27, 2025, unrecognized stock-based compensation expense of $1.0 million related to restricted stock awards is expected to be recognized over a weighted-average period of 0.6 years.Employee Stock Purchase PlansThe Company maintains two plans under which employees can purchase Company common stock - the Amended and Restated Employee Stock Purchase Plan (the “ESPP”) and the non-executive Stock Purchase and Matching Plan (“SPMP”). In March 2025, the Company’s Board of Directors approved am