CALIX, INC. (NYSE:CALX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 of Form 8-K. This Amendment is being made to report Mr. Billings’ departure under Item 7.01, rather than Item 5.02, of Form 8-K.
CALIX, INC. (NYSE:CALX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 7.01 Regulation FD Disclosure
Mr. Gregory Billings resigned as Senior Vice President, Services of Calix, Inc. (the “Company”) effective September 6, 2019 (the “Separation Date”).
In connection with Mr. Billings’ resignation, the Company entered into a separation and general release agreement (the “Agreement”) with Mr. Billings to which the Company provided severance benefits consisting of: (i) a lump-sum cash payment of $95,000, less applicable taxes and other withholdings, and (ii) an extension of the post-termination exercise period for stock options previously awarded and that are vested and outstanding as of the Separation Date to allow Mr. Billings a period of twelve (12) months from the Separation Date to exercise such stock option awards. to the Agreement, Mr. Billings agreed to a general release and other customary covenants in favor of the Company.
The foregoing description of the Agreement is not complete and is subject to and qualified in its entirety by the terms of the Agreement, a copy of which is filed as exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 28, 2019 filed on October 24, 2019 and is incorporated by reference herein.
In accordance with General Instruction B.2 of Form 8-K, the information furnished to Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
About CALIX, INC. (NYSE:CALX)
Calix, Inc. is a provider of broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers (CSPs), to transform their networks and connect to their residential and business subscribers. The Company enables CSPs to provide a range of revenue-generating services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks. The Company develops and sells carrier-class hardware and software products, which it refers to as the Unified Access portfolio. The Company’s Unified Access portfolio consists of four core systems and nodes, the E-Series access systems and nodes (E-Series systems and nodes), the B6 access nodes (B-Series nodes), the C7 multiservice, multiprotocol access system (C-Series system), and the BLM1500 gigabit passive optical network (GPON) access terminal.