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sellWeak cluster of 410b5-1 plan

Carl Russo sold $27M of CALX

director, owner at CALIX, INC. 420,000 shares at an average of $64.09, traded Nov 4, 2025, filed Nov 6, 2025.

Warning score
25
Value
$27M
420,000 shares
Holdings after
1,694,188
-20% from before
From 52-week low
+125%
low $29.03, close $65.46
From 52-week high
-4%
high $68.42, as of Nov 4, 2025

Score components

  • Role
    Director
    +15
  • Trade size
    $26.9M at market
    +25
  • Share of holdings sold
    Sold 20% of holdings
    +5
  • Cluster
    4 insiders selling within 14 days
    +15
  • Exercise and sell
    Shares came from an option exercise in the same filing
    -15
  • 10b5-1 plan
    Pre-scheduled under a 10b5-1 plan
    -20

What happened after comparable sells

Same side and tier, against the S&P 500, at 1, 3 and 6 months. Shown to Pro users; the whole table is on the backtest page.

Price around the trade, and since

From a quarter before the trade to today. The arrow is the trade, the circle the day the filing reached EDGAR, which is the first day anyone outside could act; the dotted line is the S&P 500 rebased to that day's close.

CALXOct 9, 2026 · close 37.24
Since filing Nov 6, 2025: -42.1%SPY +17.4% · excess -59.6%

Daily candles, adjusted for splits and dividends. Green arrows are insider buys, red are sells, sized by value; the dashed line is the close on the filing day, the dotted line SPY rebased to it.Charts by TradingView Lightweight Charts™

Rows in this filing

Every transaction in Form 4 0001483757-25-000009, as filed. Open on EDGAR

DateTransactionSharesPriceValueHoldings afterFiled
Nov 4, 2025SOpen-market sale
Common Stockindirect: See Footnote10b5-1
-395,000$64.00$25M1,719,188Nov 6, 2025
Nov 4, 2025SOpen-market sale
Common Stockindirect: See Footnote10b5-1
-12,035$65.11$784k1,707,153Nov 6, 2025
Nov 4, 2025SOpen-market sale
Common Stockindirect: See Footnote10b5-1
-12,845$66.00$848k1,694,308Nov 6, 2025
Nov 4, 2025SOpen-market sale
Common Stockindirect: See Footnote10b5-1
-120$66.47$7,9761,694,188Nov 6, 2025
Nov 6, 2025MOption exercise
Common Stock10b5-1
+200,000$12.63$2.5M3,953,070Nov 6, 2025
Nov 6, 2025MOption exercise
Stock Option (right to buy)derivative10b5-1
-200,000$0.00$0600,000Nov 6, 2025

Related signals

Other insiders at CALIX, INC and this insider’s other filings.

ScoreCompanyInsiderValueHoldingsFiled
57Moderate
CALXsell 4
CALIX, INC
Cory Sindelar
Chief Financial Officer
$3.3M
50,000 shares
-40%
60Notable
CALXsell 4
CALIX, INC
Shane Todd Marshall Eleniak
Chief Product Officer
$1.5M
24,000 shares
-100%
60Notable
CALXsell 4
CALIX, INC
Shane Todd Marshall Eleniak
Chief Product Officer
$3.3M
50,000 shares
-100%
32Weak
CALXsell 410b5-1
CALIX, INC
Cory Sindelar
Chief Financial Officer
$1.4M
20,000 shares
-23%
50Moderate
CALXsell 410b5-1
CALIX, INC
Michael Weening
President & CEO
$18M
274,000 shares
-127%
43Moderate
CALXsell 210b5-1
CALIX, INC
Michael Weening
President & CEO
$11M
176,000 shares
-106%
43Moderate
CALXsell 210b5-1
CALIX, INC
Michael Weening
President & CEO
$1.4M
24,000 shares
-60%
43Moderate
CALXsell 210b5-1
CALIX, INC
Michael Weening
President & CEO
$7.6M
126,000 shares
-89%
19Weak
CALXsell 210b5-1
CALIX, INC
Cory Sindelar
Chief Financial Officer
$600k
10,000 shares
-12%
50Moderate
CALXsell 310b5-1
CALIX, INC
Michael Weening
President & CEO
$4.2M
74,000 shares
-82%

Not investment advice. Scores and forward returns are decision support built from public SEC filings and past prices; they describe what happened after comparable filings, not what will happen after this one. Do your own research and size your risk.

Carl Russo sold $27M of CALX | InsiderTell