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Michael Weening

President and Chief Executive Officer at CALIX
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

CS
Cory Sindelar
Chief Financial Officer (CFO) and Principal Accounting Officer
JMC
J. Matthew Collins
Chief Commercial Operations Officer (CCOO)
SE
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

OrganizationRoleDate RangeDetails
Calix, Inc.President and Chief Operating OfficerJanuary 2021 - September 2022Former position before current role as CEO
Calix, Inc.Executive Vice President and Chief Operating OfficerAugust 2020 - January 2021
Calix, Inc.Executive Vice President, Global OperationsJanuary 2019 - August 2020
Calix, Inc.Executive Vice President in various capacitiesJune 2016 - January 2019Oversaw field operations, sales, and marketing organizations
Salesforce, Inc.Senior Vice President of Global Customer Success and ServicesAugust 2014 - June 2016
Salesforce, Inc.Senior Vice President of Customer and Sales Growth in Japan and Asia PacificMay 2012 - August 2014
Bell MobilityVice President of Business SalesMay 2009 - May 2012
Microsoft CorporationVarious sales leadership rolesNot SpecifiedSpecific dates not provided

Fixed Compensation

Data from  FY 2024
Component NameAmountPayment ScheduleAdditional 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

MetricValueAdditional Details
Performance Metricsnon-GAAP operating income, Bookings Metrics used to evaluate performance
Target Achievement100% yields 100% of PSOs Full target payout at 100% achievement
Threshold Achievement90% yields 75% of PSOs Below 90% results in no PSOs earned
Actual Payout58.9% of target PSOs Derived from 47.9% on Plan #1 and 91.8% on Plan #2

Vesting and Grant Details

DetailValueAdditional Details
Vesting Schedule25% immediately; remaining in equal quarterly installments over 36 months Shares vest as performance targets are met
Grant DateFebruary 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 Earned125,737 (Plan #1) and 80,325 (Plan #2); Total 206,062 shares Shares awarded based on performance achievement
ConditionsContingent on meeting annual corporate financial targets for bookings and non-GAAP net operating income Performance conditions required for vesting