Company: CALX
Filing Date: 2025-07-22
Form Type: 10-Q
Source: 0001406666-25-000035
Chunk: 50

Company: CALIX, INC
Filing Date: 2025-07-22
Form: 10-Q
Item: Part I, Item 8
Chunk 50
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 the performance conditions was assessed to be probable as of June 28, 2025, and stock-based compensation expense of $6.7 million was recognized for the three months ended June 28, 2025. For the six months ended June 28, 2025, stock-based compensation expense of $10.9 million was recognized.During the three months ended June 28, 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 $43.39 per share. During the six months ended June 28, 2025, stock option awards exercisable for up to an aggregate of 0.6 million shares of common stock were granted with a grant date weighted-average exercise price of $42.02 per share. These stock option awards 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 June 28, 2025, 0.3 million shares of common stock were issued pursuant to the exercise of stock options at a weighted-average exercise price of $25.15 per share. During the six months ended June 28, 2025, 0.4 million shares of common stock were issued pursuant to the exercise of stock options at a weighted-average exercise price of $25.98 per share. As of June 28, 2025, unrecognized stock-based compensation expense of $93.5 million related to stock options, net of estimated forfeitures, is expected to be recognized over a weighted-average period of 2.4 years.During the three and six months ended June 28, 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 June 28, 2025, unrecognized stock-based compensation expense of $1.4 million related to restricted stock awards, net of estimated forfeitures, is expected to be recognized over a weighted-average period of 0.9 years.During the three months ended June 28, 2025, the Compensation Committee of the Company’s Board of Directors modified an executive’s stock options to accelerate vesting and extend the exercise period for outstanding grants. As a result, a charge of