Durocher John 4

What Happened

• John Durocher, Chief Operating Officer of Calix, reported two acquisitions: a 195,000-share performance-based option award/vesting event (derivative) and an ESPP purchase of 439 shares at $45.32 each (total ~$19,896).
• The Compensation Committee determined on Feb 12, 2026 that the performance criteria for the 195,000-option grant (originally awarded Jan 31, 2025) were met. The 439 shares were purchased through the company ESPP on Feb 14, 2026 at 85% of the Feb 13, 2026 closing price.

Key Details

• Transaction dates & amounts:
  • Feb 12, 2026 — Acquisition (derivative): 195,000 shares (performance-based option) reported at $0.00 (vesting/award event).
  • Feb 14, 2026 — ESPP purchase: 439 shares @ $45.32 = $19,896.
• Vesting/terms: Option grant was made Jan 31, 2025; performance criteria met 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.
• ESPP mechanics: Shares purchased at 85% of the Feb 13, 2026 closing price (per filing footnotes); transaction reported as exempt under Rule 16b-3(c).
• Shares owned after the transactions are not specified in the filing.
• Timeliness: The Form 4 was filed on Feb 17, 2026 covering a Feb 12 transaction; this appears to be filed one business day late.

Context

• The 195,000 entry is a derivative/vesting event (options/performance award becoming exercisable/earned), not a cash sale or immediate disposition reported in this filing.
• The ESPP purchase is a routine employee purchase at a discounted price (common and generally viewed as insider participation in company equity rather than a directional market signal).
• No sales were reported here; these are acquisitions/vestings and do not indicate any immediate monetization.