CALX CALIX, INC

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 2/4 quarters. Q1 2026: $40M, Q3 2025: $0M, Q2 2025: $0M, Q1 2025: $4M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $40M vs trailing avg $1M (+3108%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-19M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 8,900,000 shares = 13.3% of 67,120,000 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

No insider open-market purchases in the last 12 months

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Need both buyback and insider purchase data

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $2M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 99667904.5x more than bought. 3 C-suite officers among sellers

• Eleniak Shane Todd Marshall (Chief Product Officer) sold 24,000 shares on 2025-11-10
• SINDELAR CORY (Chief Financial Officer) sold 50,000 shares on 2025-11-06
• Eleniak Shane Todd Marshall (Chief Product Officer) sold 50,000 shares on 2025-11-04
• Weening Michael (President & CEO) sold 150,000 shares on 2025-10-30
• Weening Michael (President & CEO) sold 50,000 shares on 2025-10-30
• Weening Michael (President & CEO) sold 74,000 shares on 2025-11-03
• SINDELAR CORY (Chief Financial Officer) sold 10,000 shares on 2025-10-30
• SINDELAR CORY (Chief Financial Officer) sold 10,000 shares on 2025-10-31
• Weening Michael (President & CEO) sold 150,000 shares on 2025-09-10
• Weening Michael (President & CEO) sold 7,990 shares on 2025-09-10