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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 11, 2021
CALIX, INC.
(Exact name of Registrant as specified in its charter)
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| Delaware | | 001-34674 | | 68-0438710 |
(State or other jurisdiction
of incorporation) | | (Commission
File No.) | | (I.R.S. Employer
Identification No.) |
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2777 Orchard Parkway, San Jose, California | | 95134 |
| (Address of principal executive offices) | | (Zip Code) |
| | |
(408) 514-3000 |
| (Registrant’s telephone number, including area code) |
| | |
| Not Applicable |
| (Former name or former address if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of Each Class | | Trading Symbol | | Name of Each Exchange on Which Registered |
Common Stock, par value $0.025 per share | | CALX | | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act). o
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On February 11, 2021, the Compensation Committee of the Board of Directors of Calix, Inc. (the “Company”) approved an increase to the annual base salary of Michael Weening, the Company’s President and Chief Operating Officer, and an increase to the annual base salary and target cash incentive for Cory Sindelar, the Company’s Chief Financial Officer, as set forth in the table below:
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Executive | 2020 Salary | 2020 Target Cash Incentive (as a percentage of base) | 2021 Salary | 2021 Target Cash Incentive (as a percentage of base) |
Michael Weening President and Chief Operating Officer | $352,000 | 90% | $500,000 | 90% |
Cory Sindelar Chief Financial Officer | $352,000 | 60% | $400,000 | 65% |
The compensation changes are effective as of February 11, 2021.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| Date: | February 18, 2021 | | | | | Calix, Inc. |
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| | | | | | By: | | /s/ Cory Sindelar |
| | | | | | | | Cory Sindelar |
| | | | | | | | CFO |