SINDELAR CORY 4
4 · CALIX, INC · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
Calix (CALX) CFO Cory Sindelar Receives Award; Buys 439 Shares
What Happened Cory Sindelar, Chief Financial Officer of Calix (CALX), reported two transactions. On Feb 12, 2026 the company recorded a derivative acquisition related to a 170,000-share performance-based stock option award (reported at $0). On Feb 14, 2026 Sindelar purchased 439 shares through Calix’s Employee Stock Purchase Plan (ESPP) at $45.32 per share, totaling $19,896. The ESPP purchase is an employee buy (routine purchase); the 170,000-share item reflects attainment of performance criteria for a prior option grant and remains subject to the grant’s vesting schedule.
Key Details
- Transaction dates and prices:
- 2026-02-12 — Derivative acquisition: 170,000 shares @ $0.00 (performance-based option/award).
- 2026-02-14 — ESPP purchase: 439 shares @ $45.32 = $19,896.
- Shares owned after transaction: Not specified in the provided filing data.
- Notable footnotes:
- ESPP purchase covered the Aug 15, 2025–Feb 14, 2026 purchase period and was priced at 85% of the Feb 13, 2026 closing price (footnotes F1, F2); transaction exempt under Rule 16b-3(c).
- The 170,000-share derivative relates to a Jan 31, 2025 performance-based option grant; the Compensation Committee determined performance criteria were met on Feb 12, 2026 (footnote F3). Vesting: 25% vested Jan 31, 2026; remaining 75% vests quarterly over 36 months starting Jan 31, 2026, subject to continued employment.
- Filing timeliness: Form 4 was filed Feb 17, 2026 for transactions on Feb 12 and Feb 14 — the filing is marked late (transactionTimeliness = 'L'); Form 4s are normally due within two business days of the transaction.
Context The derivative entry represents a performance-based option award determination, not an immediate cash exercise or sale of shares; the grant remains subject to the stated vesting schedule. The ESPP purchase is a routine employee purchase (often seen as a modest bullish signal but commonly part of regular compensation/benefit programs). No shares were reported sold in this filing.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-02-14$45.32/sh+439$19,896→ 103,994 total - Award
Stock Option (right to buy)
[F3]2026-02-12+170,000→ 170,000 totalExercise: $39.68From: 2026-01-31Exp: 2035-01-31→ Common Stock (170,000 underlying)
Footnotes (3)
- [F1]The reporting person is voluntarily reporting the acquisition of shares of the issuer's common stock pursuant to the Calix, Inc. Amended and Restated Employee Stock Purchase Plan ("ESPP") for the ESPP purchase period of August 15, 2025 through February 14, 2026. This transaction is exempt under Rule 16b-3(c).
- [F2]In accordance with the ESPP, these shares were purchased based on 85% of the closing price of the issuer's common stock on February 13, 2026, the last trading day of the purchase period.
- [F3]On January 31, 2025, the reporting person was granted a performance-based option to purchase 170,000 shares of common stock. On February 12, 2026, the Compensation Committee determined that the performance criteria governing 100% of the grant had been achieved. The option vests: (i) as to 25% of the shares of common stock subject to the stock option, on January 31, 2026; and (ii) as to the remaining 75% of the shares of common stock subject to the option, quarterly in equal installments over 36 months from January 31, 2026, subject to continued employment with Calix through the applicable vesting dates.