Form 4: Topgolf Callaway Brands Director Erik J Anderson Reports Equity Transactions, Including RSU Vesting and New Grant

Topgolf Callaway Brands Corp. Director Erik J Anderson reported the vesting of 8,096 Restricted Stock Units into common stock and the grant of 18,546 new Restricted Stock Units.

Summary

• Erik J Anderson, a Director of Topgolf Callaway Brands Corp. (MODG), reported changes in his beneficial ownership of company securities.
• On May 30, 2025, 8,096 Restricted Stock Units (RSUs) vested, converting into an equal number of common stock shares. These RSUs were originally granted on May 30, 2024.
• On May 29, 2025, Mr. Anderson was granted 18,546 new Restricted Stock Units, which are scheduled to vest in full on May 29, 2026.
• Following these transactions, Mr. Anderson directly owns 46,311 shares of common stock.
• He also indirectly beneficially owns 40,476 shares through Anderson Family Investments, LLC and 760,459 shares through WestRiver Management, LLC.
• Additionally, he indirectly beneficially owns 18,546 Restricted Stock Units.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive as a director is increasing their direct shareholding through RSU vesting and receiving new equity incentives, aligning their interests with shareholders. This is a routine, expected transaction.

Positives

• Director Erik J Anderson increased his direct common stock holdings by 8,096 shares through the vesting of Restricted Stock Units, aligning his interests further with shareholders.
• The grant of 18,546 new Restricted Stock Units indicates continued equity-based incentive for the director, linking future compensation to company performance.

Future Outlook

The document indicates future vesting of 18,546 Restricted Stock Units on May 29, 2026, which will convert into common stock, further increasing the director's direct ownership.

Industry Context

This Form 4 filing is a routine disclosure of insider equity transactions for Topgolf Callaway Brands Corp., a company in the golf and active lifestyle industry. Such filings are standard for publicly traded companies and reflect ongoing equity compensation practices for directors and executives.

Comparison to Industry Standards

• This is a standard Form 4 filing, which is a regulatory requirement for reporting insider transactions.
• The nature of the transactions (RSU vesting and grant) is common practice for executive and director compensation across various industries, including consumer discretionary and sports equipment sectors.
• There are no specific comparable companies or projects mentioned in this filing to assess against.

Related Party Transactions

• The reporting person disclaims beneficial ownership of securities held by WestRiver Management, LLC and Anderson Family Investments, LLC, except to the extent of their pecuniary interest, indicating these entities are related parties through the reporting person's management roles.

Stakeholder Impact

• Shareholders: The increase in direct share ownership by a director through RSU vesting can be viewed positively as it aligns management's interests with shareholder value. The grant of new RSUs ties future director compensation to stock performance.
• Employees: Not directly impacted by this specific director transaction, but it reflects the company's broader equity compensation strategy.

Next Steps

• The 18,546 Restricted Stock Units granted on May 29, 2025, are expected to vest on May 29, 2026, converting into common stock.

Key Dates

Keywords

Topgolf Callaway Brands, MODG, Erik J Anderson, Form 4, Insider Trading, Restricted Stock Units, RSU Vesting, Equity Compensation, Director Ownership, Beneficial Ownership