Michael Weening

President and Chief Executive Officer at Calix Inc

Board

Since October 1, 2022

Age

56 years

Education

Earned a Bachelor of Arts in Business Administration from Brock University.

Tenure

Started at CALX in June 2016 and held several leadership roles including Executive Vice President positions, President and COO, before becoming CEO in October 2022.

Also at Calix Inc

Cory Sindelar

Chief Financial Officer (CFO) and Principal Accounting Officer

JMC

J. Matthew Collins

Chief Commercial Operations Officer (CCOO)

Shane Eleniak

Chief Product Officer (CPO)

About

Michael Weening is the President and Chief Executive Officer at CALX, joining the company in June 2016.

After joining, he assumed a series of leadership roles including Executive Vice President positions over field operations, global operations, and sales and marketing, then served as President and Chief Operating Officer before being promoted to CEO on October 1, 2022.

Prior to his tenure at CALX, he held significant leadership positions at prominent technology companies such as Microsoft, Bell Mobility, and Salesforce, which have contributed to his expertise in telecommunications and networking technology.

He earned his foundational degree by obtaining a Bachelor of Arts in Business Administration from Brock University, solidifying his academic background in business strategy and operations.

$CALX Performance Under Michael Weening

Past Roles

Organization	Role	Date Range	Details
Calix, Inc.	President and Chief Operating Officer	January 2021 - September 2022	Former position before current role as CEO
Calix, Inc.	Executive Vice President and Chief Operating Officer	August 2020 - January 2021
Calix, Inc.	Executive Vice President, Global Operations	January 2019 - August 2020
Calix, Inc.	Executive Vice President in various capacities	June 2016 - January 2019	Oversaw field operations, sales, and marketing organizations
Salesforce, Inc.	Senior Vice President of Global Customer Success and Services	August 2014 - June 2016
Salesforce, Inc.	Senior Vice President of Customer and Sales Growth in Japan and Asia Pacific	May 2012 - August 2014
Bell Mobility	Vice President of Business Sales	May 2009 - May 2012
Microsoft Corporation	Various sales leadership roles	Not Specified	Specific dates not provided

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Salary	$560,000	Annual	Base salary held flat from 2023 based on business results
Non-Equity Incentive Plan Compensation	$834,913	Annual	Breakdown: $827,400 from quarterly revenue/non-GAAP operating income component and $7,513 from non-GAAP gross margin component
All Other Compensation	$9,344	Annual	Includes $8,175 employer RRSP matching and $1,169 Lifestyle Reimbursement Program

Performance Compensation

Data from FY 2024

Performance Metrics and Payout Details

Metric	Value	Additional Details
Performance Metrics	non-GAAP operating income, Bookings	Metrics used to evaluate performance
Target Achievement	100% yields 100% of PSOs	Full target payout at 100% achievement
Threshold Achievement	90% yields 75% of PSOs	Below 90% results in no PSOs earned
Actual Payout	58.9% of target PSOs	Derived from 47.9% on Plan #1 and 91.8% on Plan #2

Vesting and Grant Details

Detail	Value	Additional Details
Vesting Schedule	25% immediately; remaining in equal quarterly installments over 36 months	Shares vest as performance targets are met
Grant Date	February 8, 2024	Option awards granted on this date
Grant Date Fair Value	$4,806,401 and $1,602,134	Values for the separate option sets
Grant Date Stock Price	$34.26 per share	Exercise price for the option awards
Shares Earned	125,737 (Plan #1) and 80,325 (Plan #2); Total 206,062 shares	Shares awarded based on performance achievement
Conditions	Contingent on meeting annual corporate financial targets for bookings and non-GAAP net operating income	Performance conditions required for vesting