Weening Michael 4
4 · CALIX, INC · Filed Feb 17, 2026
Research Summary
AI-generated summary of this filing
Calix (CALX) CEO Michael Weening Buys Shares; Performance Option Vests
What Happened
Michael Weening, President & CEO and a director of Calix, acquired 439 shares of Calix common stock through the company’s Employee Stock Purchase Plan (ESPP) on Feb 14, 2026 at $45.32 per share (total ~$19,896). Separately, on Feb 12, 2026 the Compensation Committee determined that performance criteria for a previously granted performance-based stock option covering 217,500 shares had been satisfied; that award is reported as a derivative acquisition (no cash paid reported).
Key Details
- Transaction dates and prices:
- Feb 14, 2026 — ESPP purchase: 439 shares at $45.32 each (total ~$19,896). (Footnotes F1–F2)
- Feb 12, 2026 — Performance-based option reported as acquired/derivative for 217,500 shares at $0.00. (Footnote F3)
- Shares owned after transaction: not specified in the provided filing details.
- Notable footnotes:
- F1: ESPP purchase voluntarily reported; exempt under Rule 16b-3(c).
- F2: ESPP price was 85% of the Feb 13, 2026 closing price (the plan’s purchase formula).
- F3: The 217,500-share award is a performance-based option granted Jan 31, 2025; the committee determined performance was met on Feb 12, 2026. Vesting schedule: 25% vested Jan 31, 2026; remaining 75% vests quarterly over 36 months from Jan 31, 2026, subject to continued employment.
- Filing: Form 4 filed Feb 17, 2026; the filing date is shown on the report (no late-filing notation provided in the summary).
Context
The ESPP purchase is a direct cash purchase by the insider and is typically viewed simply as a personal investment. The 217,500-share item is a derivative/option matter — the company determined performance conditions were met, but the filing shows vesting is subject to a multi-year schedule and continued employment; it does not show an immediate cash exercise or sale of shares.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-02-14$45.32/sh+439$19,896→ 16,556 total - Award
Stock Option (right to buy)
[F3]2026-02-12+217,500→ 217,500 totalExercise: $39.68From: 2026-01-31Exp: 2035-01-31→ Common Stock (217,500 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 217,500 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.