Hickey Glenn F. 4

What Happened

• Glenn F. Hickey, Executive Vice President and President, Callaway Sales, had 22,728 restricted stock units (RSUs) vest on March 14, 2026. The RSUs converted one-for-one into 22,728 shares of Callaway common stock.
• The company withheld 12,269 of those shares to satisfy tax withholding obligations at $13.38 per share (total value reported $164,159). After withholding, Hickey received 10,459 net shares.
• This was an RSU vesting (award conversion), not an open-market purchase or voluntary sale; the withholding is a routine tax-related disposition.

Key Details

• Transaction date: March 14, 2026; Form 4 filed March 16, 2026 (filed promptly after the vesting date).
• Conversion: 22,728 RSUs -> 22,728 shares (code M on the Form 4 for derivative conversion).
• Tax withholding: 12,269 shares withheld at $13.38/share, totaling $164,159 (code F for tax withholding/disposition).
• Net shares issued to insider: 10,459 shares.
• Footnotes: RSUs were granted on March 14, 2025 and vest in three equal annual installments beginning March 14, 2026; RSUs convert one-for-one and the withheld shares satisfy tax withholding requirements.
• The filing does not indicate a 10% owner status or a 10b5-1 plan.

Context

• RSU vesting and company withholding to cover taxes are routine compensation events and do not necessarily signal a view on the stock—this is issuance of earned compensation, with a sell-to-cover-style withholding.
• The Form 4 shows conversion of the award (derivative) into stock; the withholding (F) is an administrative disposition by the company to meet tax obligations, not an open-market sale initiated by the executive.