BREWER OLIVER G III 4

What Happened
Oliver G. Brewer III, President & CEO and a director of Callaway Golf Co. (CALY), reported multiple gift transactions on March 18, 2026. The filing shows dispositions totaling 282,700 shares and corresponding acquisitions totaling 282,700 shares, all reported as gifts at $0 per share (no cash consideration). A footnote states these were transfers of common shares to various family-member trusts for estate planning; Brewer (or his spouse) is a trustee of each recipient trust and therefore retains beneficial ownership.

Key Details

• Date: March 18, 2026; Transaction code: G (Gift); Price: $0 (no consideration).
• Reported transfers: Dispositions = 141,350 + 70,675 + 70,675 = 282,700 shares; Acquisitions = 70,675 + 70,675 + 70,675 + 23,559 + 23,558 + 23,558 = 282,700 shares.
• Total shares moved (in/out): 282,700 shares.
• Shares owned after transaction: not specified in the provided extract; footnote says Brewer retains beneficial ownership via trustee role.
• Footnote: Transfers were to various trusts for immediate family for estate planning; reporting person or spouse is trustee and retains beneficial ownership.
• Filing timeliness: Reported with a Form 4 dated the same day as the transactions; no late filing indicated.

Context
Gifts to family trusts are typically estate-planning actions and do not necessarily signal the insider’s view on the company’s stock price. Because Brewer remains a trustee and retains beneficial ownership per the filing, these moves should not be read as a straightforward sale or reduction in economic interest. For retail investors, purchases by insiders are generally more informative than gifts; this filing documents a reallocation of shares within related trusts rather than a market sale or new purchase.