Company: CALX
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001406666-25-000011
Chunk: 53

Company: CALIX, INC
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 53
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 we will match each share of our common stock purchased by our and our subsidiaries’ employees under the purchase component, with a matching share of our common stock that is subject to vesting on the first anniversary of the purchase of the corresponding share purchased under the purchase component.

We have attempted, in the design of the terms of the Stock Purchase and Matching Plan, to balance considerations of recruiting and retention in a competitive labor market with the costs to our stockholders. We obtained and reviewed an independent consultant’s analyses of the potential dilution to stockholders over the term of the Stock Purchase and Matching Plan and potential expense. Based on that information, 1) we have set the number of shares to be reserved under the matching component (2,923,400 shares) such that the aggregate number of shares available under the matching component of the Stock Purchase and Matching Plan and our ESPP is, we believe, reasonable under the standards of many institutional investors; 2) for each of the four offering periods each year we have established the limit on the number of shares that can be acquired in the matching component in an Offering Period to 175,000 matching shares, which will serve to limit dilution to stockholders; and 3) we anticipate the 2,923,400 shares reserved under the matching component of the Stock Purchase and Matching Plan will provide sufficient shares for the matching component reserve under the plan for approximately two to three years after the Annual Meeting. In addition, shares acquired under the matching component of the Stock Purchase and Matching Plan are generally required to be held for a period of one year from the date the corresponding share is purchased under the purchase component in order for participants to retain matching shares. We believe that the design of the Stock Purchase and Matching Plan allows us to offer a vehicle through which employees can continue to acquire an ownership interest in the Company on favorable terms and be aligned with stockholders by acquiring equity, while also being mindful of dilution.

Under the purchase component of the Stock Purchase and Matching Plan, eligible employees purchase our common stock through accumulated payroll deductions, and for each share of our common stock purchased, we will issue an additional matching share under the matching component of the Stock Purchase and Matching Plan at no cost to the employee that is subject to a one-year vesting period. The Stock Purchase and Matching Plan is not intended to qualify as an “employee stock purchase plan” under Section 423 of the Code.

A copy of the proposed Stock Purchase and Matching Plan is included as Appendix B to this Proxy Statement.

Our stockholders last approved