Weening Michael

Weening Michael, President & CEO, has demonstrated a clear selling bias in his recent transactions involving Calix, Inc. (CALX), with no buys recorded in his last 12 trades. Since July 2025, he has executed multiple sales totaling over $53.3 million, offset by just $6.55 million in buys across all reported transactions. His largest single sale occurred on October 30, 2025, when he disposed of shares worth $9.69 million, followed by another $3.38 million sale the same day. Earlier that month, on September 10, 2025, he sold $9.3 million in shares alongside smaller dispositions. These high-value sales were often accompanied by smaller market purchases (coded "M"), likely tied to option exercises or other equity compensation events, such as the $1.57 million acquisition on October 30, 2025, coinciding with his disposals. The pattern intensified in late 2025, with Weening executing sales nearly every month, including a $4.99 million transaction on November 3, 2025. Notably, his only non-sale filings in 2026 were two awards (coded "A") with negligible dollar values, suggesting no recent equity accumulation. The consistency and scale of these disposals—particularly the absence of buys since at least mid-2025—indicate a sustained reduction in his CALX position. While the sales could reflect routine portfolio management, their frequency and magnitude distinguish them from typical executive trading activity. The transactions were executed at varying price points, with no single event driving the disposals, pointing to a deliberate, phased unwind rather than a reaction to isolated market conditions.