Business Context and Reporting Period
This Form 8-K was filed by CALIX, INC. on March 10, 2011. The report discloses corporate governance actions regarding executive compensation rather than financial performance results for a specific fiscal period.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity figures. The only financial data disclosed relates to specific discretionary cash bonuses approved for named executive officers under the 2010 management bonus program.
| Executive Officer | Position | Bonus Amount |
|---|---|---|
| Roger Weingarth | Executive Vice President and Chief Operating Officer | $170,000 |
| Kevin Pope | Senior Vice President, Product Development | $100,000 |
| Tony Banta | Senior Vice President, Manufacturing Operations | $100,000 |
| John Colvin | Vice President, Field Operations for the Americas | $75,000 |
Material Changes
The filing reports the approval of bonuses based on 2010 corporate performance metrics, specifically revenue, non-GAAP gross margin, and non-GAAP net income. No comparative financial data or material changes in financial position are detailed in this document.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, outlook, or discussion of risks and contingencies. The bonuses were determined based on the Compensation Committee's assessment of individual performance and corporate results for the 2010 fiscal year.
Key Facts for Investor Verification
- Verify the total cash outflow impact of the approved bonuses ($445,000) against the company's 2010 cash flow statement.
- Confirm the specific 2010 revenue and non-GAAP net income figures that triggered these bonus thresholds by reviewing the company's 2010 Annual Report (Form 10-K).
- Note that the bonuses were approved on March 10, 2011, and signed by the CFO on March 11, 2011.