Calix (NYSE: CALX) insider updates trust and fund holdings

Rhea-AI Filing Summary

Calix director and 10% owner Carl Russo reported indirect stock sales through a trust. On February 3, 2026, The Crescentico Trust, for which Russo serves as trustee, sold 13,477 Calix common shares at a weighted average price of $46.9338 and 11,523 shares at a weighted average price of $47.658, under a pre-established Rule 10b5-1 trading plan adopted on April 25, 2025.

After these transactions, 1,669,188 Calix shares were indirectly held by The Crescentico Trust. Separately, 13,782 shares were indirectly held by Equanimous Investments, an entity whose managing members include Russo and Tim Pasquinelli and for which each individual disclaims beneficial ownership except to the extent of his pecuniary interest. Russo also reported 3,983,070 Calix shares held directly.

Insider Trade Summary

Net Seller: 25,000 shares ($1,181,690)

Net Sell 4 txns

Insider Russo Carl

Role Director, 10% Owner

Sold 25,000 shs ($1.18M)

Type	Security	Shares	Price	Value
Sale	Common Stock	13,477	$46.9338	$633K
Sale	Common Stock	11,523	$47.658	$549K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 1,680,711 shares (Indirect, See Footnote); Common Stock — 3,983,070 shares (Direct)

Footnotes (1)

1. The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $46.34 to $47.33, inclusive. Full information on the number of shares sold at each sale price is available upon request. Shares held by The Crescentico Trust, Carl Russo, Trustee. The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $47.38 to $48.20, inclusive. Full information on the number of shares sold at each sale price is available upon request. Shares held by Equanimous Investments. The managing members of Equanimous Investments are Carl Russo and Tim Pasquinelli. These individuals may be deemed to have shared voting and investment power over the shares held by Equanimous Investments. Each of these individuals disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Russo Carl

(Last) (First) (Middle)

C/O CALIX, INC.

3155 OLSEN DRIVE, SUITE 450

(Street)

SAN JOSE CA 95117

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CALIX, INC [ (CALX) ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/03/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/03/2026		S		13,477	D	$46.9338(1)	1,680,711	I	See Footnote(2)
Common Stock	02/03/2026		S		11,523	D	$47.658(3)	1,669,188	I	See Footnote(2)
Common Stock								13,782	I	See Footnote(4)
Common Stock								3,983,070	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $46.34 to $47.33, inclusive. Full information on the number of shares sold at each sale price is available upon request.

2. Shares held by The Crescentico Trust, Carl Russo, Trustee.

3. The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $47.38 to $48.20, inclusive. Full information on the number of shares sold at each sale price is available upon request.

4. Shares held by Equanimous Investments. The managing members of Equanimous Investments are Carl Russo and Tim Pasquinelli. These individuals may be deemed to have shared voting and investment power over the shares held by Equanimous Investments. Each of these individuals disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

Remarks:

Sales reported on the Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on April 25, 2025.

	/s/ Tom Gemetti as Attorney-in-Fact for Carl Russo	02/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider stock sales did Calix (CALX) report for Carl Russo?

Calix reported that a trust associated with director and 10% owner Carl Russo sold 13,477 and 11,523 Calix common shares on February 3, 2026 at weighted average prices of $46.9338 and $47.658, respectively, as disclosed in a Form 4 filing.

Who actually sold the Calix (CALX) shares reported in this Form 4?

The shares were sold by The Crescentico Trust, which holds Calix stock with Carl Russo serving as trustee. The filing classifies these as indirect transactions, meaning the trust, not Russo personally, is the direct holder of the sold shares.

Were the Calix (CALX) insider sales made under a trading plan?

Yes. The Form 4 states the sales reported were effected under a Rule 10b5-1 trading plan adopted on April 25, 2025. Such plans pre-schedule trades, allowing insiders to sell shares over time according to preset instructions.

How many Calix (CALX) shares does The Crescentico Trust hold after the sales?

Following the reported transactions, The Crescentico Trust held 1,669,188 Calix common shares indirectly for Carl Russo. This figure reflects the remaining trust position after the sale of 13,477 and 11,523 shares on February 3, 2026.

What Calix (CALX) holdings are reported for Equanimous Investments?

The Form 4 reports 13,782 Calix common shares held indirectly by Equanimous Investments. Its managing members, including Carl Russo and Tim Pasquinelli, may share voting and investment power, but each disclaims beneficial ownership except for any pecuniary interest in those shares.

How many Calix (CALX) shares does Carl Russo hold directly?

The filing shows 3,983,070 Calix common shares held directly by Carl Russo, in addition to indirect holdings through The Crescentico Trust and Equanimous Investments. Direct holdings are shares registered in Russo’s own name rather than through an entity.