Callaway (CALY) EVP Timothy R. Reed Exercises RSUs, Sells Shares

What Happened
Timothy R. Reed, EVP, Golf R&D, Strategy & Fit at Callaway Golf Co., had 12,988 restricted stock units (RSUs) vest on August 26, 2026. Those RSUs converted into 12,988 shares of common stock (reported as an exercise/conversion of a derivative). To satisfy tax withholding on the vesting, the company withheld 7,011 shares, which were reported as disposed at $15.74 per share for a tax withholding value of $110,353. Net shares delivered to Mr. Reed after withholding: 5,977 shares.

Key Details

• Transaction date: August 26, 2026; Form filed same day (timely).
• RSU vesting (reported as derivative conversion, code M): 12,988 shares acquired at $0.00 (RSUs converting one-for-one).
• Tax withholding (code F): 7,011 shares withheld/disposed at $15.74 = $110,353.
• Net shares received by insider: 12,988 − 7,011 = 5,977 shares.
• Shares owned after transaction: Not provided in the supplied data.
• Relevant footnotes: RSUs were granted August 26, 2025 and vested on the first anniversary; RSUs convert one-for-one; the 7,011 shares represent shares withheld to satisfy tax withholding and relate only to the August 26, 2025 grant.

Context

• This was not an open-market sale; it was a routine RSU vesting with shares withheld by the company to cover taxes (common practice). The withheld shares' disposition is solely for tax purposes and does not necessarily indicate a change in insider sentiment.
• Transaction codes: M = exercise/conversion of derivative (RSU conversion here), F = shares withheld to satisfy tax withholding.