CALY

SEC source: 0001209191-22-008597 · doc4.xml · nonDerivative · entry 3

BREWER OLIVER G III · CIK 0001072918 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

SEC source: 0001209191-22-008597 · doc4.xml · nonDerivative · entry 2

BREWER OLIVER G III · CIK 0001072918 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,953

F3 · shares: Represents the number of shares of common stock withheld by the Company to satisfy tax withholding requirements in connection with the RSU vesting.

SEC source: 0001209191-22-008597 · doc4.xml · nonDerivative · entry 1

BREWER OLIVER G III · CIK 0001072918 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 36,938

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · shares: Represents the number of shares of common stock issued upon the vesting of restricted stock units ("RSUs") plus the number of shares of common stock accrued with respect to such vested portion of the RSUs as a result of dividend equivalent rights paid by the Company pursuant to the terms of the award. The number of shares reported on Table 1 does not include the fractional shares, which were paid in cash upon settlement.

F2 · price: RSUs convert into common stock on a one-for-one basis.

SEC source: 0001209191-21-069819 · doc4.xml · nonDerivative · entry 1

Ogunlesi Adebayo O. · CIK 0001481450 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 76,923

F1 · shares: The shares were issued in lieu of the cash retainer otherwise payable to the reporting person under the issuers non-employee director compensation program for the quarter ending December 31, 2021.

SEC source: 0001209191-21-069817 · doc4.xml · nonDerivative · entry 1

Dundon Thomas G. · CIK 0001518314 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 44,531

F1 · shares: The shares were issued in lieu of the cash retainer otherwise payable to the reporting person under the issuers non-employee director compensation program for the quarter ending December 31, 2021.

SEC source: 0001209191-21-069818 · doc4.xml · nonDerivative · entry 1

FLEISCHER RUSSELL L · CIK 0001108424 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 32,112

F1 · shares: The shares were issued in lieu of the cash retainer otherwise payable to the reporting person under the issuers non-employee director compensation program for the quarter ending December 31, 2021.

SEC source: 0001209191-21-068115 · doc4.xml · derivative · entry 1

Holloway Bavan · CIK 0001823774 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,833

Underlying: Common Stock · 1,833 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive one share of common stock.

F2 · derivative.exercise_date: The restricted stock units were granted on December 6, 2021 and vest in full on the first anniversary of the grant date.

F2 · derivative.expiration_date: The restricted stock units were granted on December 6, 2021 and vest in full on the first anniversary of the grant date.

SEC source: 0001209191-21-068121 · doc4.xml · nonDerivative · entry 1

Lynch Brian P. · CIK 0001551277 · EVP, CFO

10b5-1 filing: Not disclosed

Ownership: Indirect · By Family Trust

Disclosed balance after: 21,575

F1 · price: This transaction was executed in multiple trades at prices ranging from $25.59 to $25.91 per share. The price reported above reflects the weighted average sale price for the entire number of shares purchased. Information on the exact number of shares purchased at each sale price can be obtained from the Issuer upon request.

SEC source: 0001209191-21-068119 · doc4.xml · nonDerivative · entry 1

BREWER OLIVER G III · CIK 0001072918 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Indirect · By Family Trust

Disclosed balance after: 451,353

SEC source: 0000899243-21-046421 · doc4.xml · nonDerivative · entry 2

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Anderson Family Investments, LLC

Disclosed balance after: 38,591

F2 · shares: The price reported in Column 4 of Table I is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.50 to $26.71. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission full information regarding the number of shares sold at each separate price within this range.

F3 · ownership.nature: WestRiver Management is the sole managing member of TGP Advisors, LLC and TGP Manager, LLC ("TGP Manager"). TGP Manager is the sole managing member of TGP Investors, LLC ("TGP") and TGP Investors II, LLC ("TGP II) and in such capacity is responsible for voting decisions with respect to certain matters regarding the Issuer's securities held by TGP and TGP II. The Reporting Person is the sole member and sole manager of WestRiver Management, LLC ("WestRiver Management") and the sole manager of Anderson Family Investments, LLC ("AFI"). As a result, the Reporting Person may be deemed to beneficially own the securities held of record by TGP, TGP II, TGP Advisors, WestRiver Management and AFI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0000899243-21-046421 · doc4.xml · nonDerivative · entry 1

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By WestRiver Management, LLC

Disclosed balance after: 494,519

F1 · shares: The price reported in Column 4 of Table I is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.50 to $26.72. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission full information regarding the number of shares sold at each separate price within this range.

F3 · ownership.nature: WestRiver Management is the sole managing member of TGP Advisors, LLC and TGP Manager, LLC ("TGP Manager"). TGP Manager is the sole managing member of TGP Investors, LLC ("TGP") and TGP Investors II, LLC ("TGP II) and in such capacity is responsible for voting decisions with respect to certain matters regarding the Issuer's securities held by TGP and TGP II. The Reporting Person is the sole member and sole manager of WestRiver Management, LLC ("WestRiver Management") and the sole manager of Anderson Family Investments, LLC ("AFI"). As a result, the Reporting Person may be deemed to beneficially own the securities held of record by TGP, TGP II, TGP Advisors, WestRiver Management and AFI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0000899243-21-045065 · doc4.xml · derivative · entry 11

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By TGP Advisors, LLC

Disclosed balance after: 26,685

Underlying: Common Stock · 122,754 shares

Expires 2025-08-31

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_date: The stock option is currently exercisable.

F2 · ownership.nature: WestRiver Management is the sole managing member of TGP Advisors, LLC and TGP Manager, LLC ("TGP Manager"). TGP Manager is the sole managing member of TGP Investors, LLC ("TGP") and TGP Investors II, LLC ("TGP II) and in such capacity is responsible for voting decisions with respect to certain matters regarding the Issuer's securities held by TGP and TGP II. The Reporting Person is the sole member and sole manager of WestRiver Management, LLC ("WestRiver Management") and the sole manager of Anderson Family Investments, LLC ("AFI"). As a result, the Reporting Person may be deemed to beneficially own the securities held of record by TGP, TGP II, TGP Advisors, WestRiver Management and AFI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0000899243-21-045065 · doc4.xml · derivative · entry 10

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By TGP Advisors, LLC

Disclosed balance after: 4,270

Underlying: Common Stock · 17,078 shares

Expires 2024-04-16

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_date: The stock option is currently exercisable.

F2 · ownership.nature: WestRiver Management is the sole managing member of TGP Advisors, LLC and TGP Manager, LLC ("TGP Manager"). TGP Manager is the sole managing member of TGP Investors, LLC ("TGP") and TGP Investors II, LLC ("TGP II) and in such capacity is responsible for voting decisions with respect to certain matters regarding the Issuer's securities held by TGP and TGP II. The Reporting Person is the sole member and sole manager of WestRiver Management, LLC ("WestRiver Management") and the sole manager of Anderson Family Investments, LLC ("AFI"). As a result, the Reporting Person may be deemed to beneficially own the securities held of record by TGP, TGP II, TGP Advisors, WestRiver Management and AFI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0000899243-21-045065 · doc4.xml · nonDerivative · entry 4

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By TGP Advisors, LLC

Disclosed balance after: 18,702

F1 · price: The price reported in Column 4 of Table I is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.00 to $30.09. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission full information regarding the number of shares sold at each separate price within this range.

F2 · ownership.nature: WestRiver Management is the sole managing member of TGP Advisors, LLC and TGP Manager, LLC ("TGP Manager"). TGP Manager is the sole managing member of TGP Investors, LLC ("TGP") and TGP Investors II, LLC ("TGP II) and in such capacity is responsible for voting decisions with respect to certain matters regarding the Issuer's securities held by TGP and TGP II. The Reporting Person is the sole member and sole manager of WestRiver Management, LLC ("WestRiver Management") and the sole manager of Anderson Family Investments, LLC ("AFI"). As a result, the Reporting Person may be deemed to beneficially own the securities held of record by TGP, TGP II, TGP Advisors, WestRiver Management and AFI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0000899243-21-045065 · doc4.xml · nonDerivative · entry 3

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By TGP Advisors, LLC

Disclosed balance after: 141,456

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · ownership.nature: WestRiver Management is the sole managing member of TGP Advisors, LLC and TGP Manager, LLC ("TGP Manager"). TGP Manager is the sole managing member of TGP Investors, LLC ("TGP") and TGP Investors II, LLC ("TGP II) and in such capacity is responsible for voting decisions with respect to certain matters regarding the Issuer's securities held by TGP and TGP II. The Reporting Person is the sole member and sole manager of WestRiver Management, LLC ("WestRiver Management") and the sole manager of Anderson Family Investments, LLC ("AFI"). As a result, the Reporting Person may be deemed to beneficially own the securities held of record by TGP, TGP II, TGP Advisors, WestRiver Management and AFI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0000899243-21-045065 · doc4.xml · nonDerivative · entry 2

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By TGP Advisors, LLC

Disclosed balance after: 18,702

F1 · price: The price reported in Column 4 of Table I is a weighted average price. These shares were sold in multiple transactions at prices ranging from $30.00 to $30.09. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission full information regarding the number of shares sold at each separate price within this range.

F2 · ownership.nature: WestRiver Management is the sole managing member of TGP Advisors, LLC and TGP Manager, LLC ("TGP Manager"). TGP Manager is the sole managing member of TGP Investors, LLC ("TGP") and TGP Investors II, LLC ("TGP II) and in such capacity is responsible for voting decisions with respect to certain matters regarding the Issuer's securities held by TGP and TGP II. The Reporting Person is the sole member and sole manager of WestRiver Management, LLC ("WestRiver Management") and the sole manager of Anderson Family Investments, LLC ("AFI"). As a result, the Reporting Person may be deemed to beneficially own the securities held of record by TGP, TGP II, TGP Advisors, WestRiver Management and AFI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0000899243-21-045065 · doc4.xml · nonDerivative · entry 1

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By TGP Advisors, LLC

Disclosed balance after: 35,780

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · ownership.nature: WestRiver Management is the sole managing member of TGP Advisors, LLC and TGP Manager, LLC ("TGP Manager"). TGP Manager is the sole managing member of TGP Investors, LLC ("TGP") and TGP Investors II, LLC ("TGP II) and in such capacity is responsible for voting decisions with respect to certain matters regarding the Issuer's securities held by TGP and TGP II. The Reporting Person is the sole member and sole manager of WestRiver Management, LLC ("WestRiver Management") and the sole manager of Anderson Family Investments, LLC ("AFI"). As a result, the Reporting Person may be deemed to beneficially own the securities held of record by TGP, TGP II, TGP Advisors, WestRiver Management and AFI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0001140361-21-038293 · form4.xml · nonDerivative · entry 1

PEP TG Investments LP · CIK 0001849588 · 10% owner

PEP TG Investments GP LLC · CIK 0001849690 · 10% owner

Dominguez Michael J · CIK 0001320307 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 21,175,226

F1 · kind: Represents shares of common stock ("Common Stock") of Callaway Golf Company (the "Issuer") sold in a Rule 144 sale by PEP TG Investments LP at a price of $28.81 per share.

F1 · shares: Represents shares of common stock ("Common Stock") of Callaway Golf Company (the "Issuer") sold in a Rule 144 sale by PEP TG Investments LP at a price of $28.81 per share.

F1 · price: Represents shares of common stock ("Common Stock") of Callaway Golf Company (the "Issuer") sold in a Rule 144 sale by PEP TG Investments LP at a price of $28.81 per share.

F2 · ownership.direct: This statement is being filed by the following Reporting Persons: PEP TG Investments LP, PEP TG Investments GP LLC and Michael Dominguez and represents shares of Common Stock directly held by PEP TG Investments LP.

F3 · ownership.direct: PEP TG Investments GP LLC is the sole general partner of PEP TG Investments LP. By virtue of such relationship, PEP TG Investments GP LLC has shared voting and investment control with respect to the securities held directly by PEP TG Investments LP, and may be deemed to indirectly beneficially own the securities directly held by PEP TG Investments LP.

F4 · ownership.direct: Michael Dominguez is the sole member of PEP TG Investments GP LLC. By virtue of such relationship, Michael Dominguez has shared voting and investment control with respect to the securities held directly by PEP TG Investments GP LLC, and may be deemed to indirectly beneficially own the securities directly held by PEP TG Investments LP.

F5 · ownership.direct: This report shall not be deemed an admission that PEP TG Investments GP LLC or Michael Dominguez is a beneficial owner of the securities held by PEP TG Investments LP, in each case for the purpose of Section 16 of the Exchange Act, or for any other purpose, except to the extent of their pecuniary interest therein, if any. Each of PEP TG Investments GP LLC and Michael Dominguez disclaims any beneficial ownership with respect to such securities, except to the extent of its respective pecuniary interest therein, if any.

SEC source: 0001209191-21-058289 · doc4.xml · nonDerivative · entry 1

Ogunlesi Adebayo O. · CIK 0001481450 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 75,901

F1 · shares: The shares were issued in lieu of the cash retainer otherwise payable to the reporting person under the issuers non-employee director compensation program for the quarter ending on the Transaction Date.

SEC source: 0001209191-21-058287 · doc4.xml · nonDerivative · entry 1

FLEISCHER RUSSELL L · CIK 0001108424 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 31,044

F1 · shares: The shares were issued in lieu of the cash retainer otherwise payable to the reporting person under the issuers non-employee director compensation program for the quarter ending on the Transaction Date.

SEC source: 0001209191-21-058286 · doc4.xml · nonDerivative · entry 1

Dundon Thomas G. · CIK 0001518314 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 43,602

F1 · shares: The shares were issued in lieu of the cash retainer otherwise payable to the reporting person under the issuers non-employee director compensation program for the quarter ending on the Transaction Date.

SEC source: 0001209191-21-058531 · doc4.xml · nonDerivative · entry 6

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,304

F3 · kind: Represents shares of Issuers common stock received in connection with the Distribution-in-Kind.

SEC source: 0001209191-21-058531 · doc4.xml · nonDerivative · entry 5

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Anderson Family Investments, LLC

Disclosed balance after: 48,591

F3 · kind: Represents shares of Issuers common stock received in connection with the Distribution-in-Kind.

F2 · ownership.nature: WestRiver Management is the sole managing member of TGP Advisors and TGP Manager, LLC ("TGP Manager"). TGP Manager is the sole managing member of TGP and TGP II and in such capacity is responsible for voting decisions with respect to certain matters regarding the Issuers securities held by TGP and TGP II. The Reporting Person is the sole member and sole manager of WestRiver Management and the sole manager of Anderson Family Investments, LLC ("AFI"). As a result, the Reporting Person may be deemed to beneficially own the securities held of record by TGP, TGP II, TGP Advisors, WestRiver Management and AFI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Persons pecuniary interest therein.

SEC source: 0001209191-21-058531 · doc4.xml · nonDerivative · entry 4

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By WestRiver Management, LLC

Disclosed balance after: 512,019

F3 · kind: Represents shares of Issuers common stock received in connection with the Distribution-in-Kind.

F2 · ownership.nature: WestRiver Management is the sole managing member of TGP Advisors and TGP Manager, LLC ("TGP Manager"). TGP Manager is the sole managing member of TGP and TGP II and in such capacity is responsible for voting decisions with respect to certain matters regarding the Issuers securities held by TGP and TGP II. The Reporting Person is the sole member and sole manager of WestRiver Management and the sole manager of Anderson Family Investments, LLC ("AFI"). As a result, the Reporting Person may be deemed to beneficially own the securities held of record by TGP, TGP II, TGP Advisors, WestRiver Management and AFI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Persons pecuniary interest therein.

SEC source: 0001209191-21-058531 · doc4.xml · nonDerivative · entry 3

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By TGP Advisors, LLC

Disclosed balance after: 18,702

F1 · kind: Represents a pro-rata distribution in kind of shares of the Issuers common stock held of record by TGP Investors, LLC ("TGP"), TGP Investors II, LLC ("TGP II"), and TGP Advisors, LLC ("TGP Advisors") to their respective members for no consideration ("Distribution-in-Kind") pursuant to such entities organizational documents. As further disclosed in Amendment No. 1 to the Schedule 13D filed by WestRiver Management, LLC ("WestRiver Management") with the Securities and Exchange Commission on October 1, 2021, the persons who received shares of the Issuers common stock as a result of the Distribution-in-Kind agreed that such shares are subject to the terms of a lock-up agreement that restricts them from selling or otherwise transferring such shares through November 9, 2021.

F2 · ownership.nature: WestRiver Management is the sole managing member of TGP Advisors and TGP Manager, LLC ("TGP Manager"). TGP Manager is the sole managing member of TGP and TGP II and in such capacity is responsible for voting decisions with respect to certain matters regarding the Issuers securities held by TGP and TGP II. The Reporting Person is the sole member and sole manager of WestRiver Management and the sole manager of Anderson Family Investments, LLC ("AFI"). As a result, the Reporting Person may be deemed to beneficially own the securities held of record by TGP, TGP II, TGP Advisors, WestRiver Management and AFI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Persons pecuniary interest therein.

SEC source: 0001209191-21-058531 · doc4.xml · nonDerivative · entry 2

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By TGP Investors II, LLC

Disclosed balance after: 1,209,996

F1 · kind: Represents a pro-rata distribution in kind of shares of the Issuers common stock held of record by TGP Investors, LLC ("TGP"), TGP Investors II, LLC ("TGP II"), and TGP Advisors, LLC ("TGP Advisors") to their respective members for no consideration ("Distribution-in-Kind") pursuant to such entities organizational documents. As further disclosed in Amendment No. 1 to the Schedule 13D filed by WestRiver Management, LLC ("WestRiver Management") with the Securities and Exchange Commission on October 1, 2021, the persons who received shares of the Issuers common stock as a result of the Distribution-in-Kind agreed that such shares are subject to the terms of a lock-up agreement that restricts them from selling or otherwise transferring such shares through November 9, 2021.

F2 · ownership.nature: WestRiver Management is the sole managing member of TGP Advisors and TGP Manager, LLC ("TGP Manager"). TGP Manager is the sole managing member of TGP and TGP II and in such capacity is responsible for voting decisions with respect to certain matters regarding the Issuers securities held by TGP and TGP II. The Reporting Person is the sole member and sole manager of WestRiver Management and the sole manager of Anderson Family Investments, LLC ("AFI"). As a result, the Reporting Person may be deemed to beneficially own the securities held of record by TGP, TGP II, TGP Advisors, WestRiver Management and AFI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Persons pecuniary interest therein.

SEC source: 0001209191-21-058531 · doc4.xml · nonDerivative · entry 1

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By TGP Investors, LLC

Disclosed balance after: 5,474,968

F1 · kind: Represents a pro-rata distribution in kind of shares of the Issuers common stock held of record by TGP Investors, LLC ("TGP"), TGP Investors II, LLC ("TGP II"), and TGP Advisors, LLC ("TGP Advisors") to their respective members for no consideration ("Distribution-in-Kind") pursuant to such entities organizational documents. As further disclosed in Amendment No. 1 to the Schedule 13D filed by WestRiver Management, LLC ("WestRiver Management") with the Securities and Exchange Commission on October 1, 2021, the persons who received shares of the Issuers common stock as a result of the Distribution-in-Kind agreed that such shares are subject to the terms of a lock-up agreement that restricts them from selling or otherwise transferring such shares through November 9, 2021.

F2 · ownership.nature: WestRiver Management is the sole managing member of TGP Advisors and TGP Manager, LLC ("TGP Manager"). TGP Manager is the sole managing member of TGP and TGP II and in such capacity is responsible for voting decisions with respect to certain matters regarding the Issuers securities held by TGP and TGP II. The Reporting Person is the sole member and sole manager of WestRiver Management and the sole manager of Anderson Family Investments, LLC ("AFI"). As a result, the Reporting Person may be deemed to beneficially own the securities held of record by TGP, TGP II, TGP Advisors, WestRiver Management and AFI. The Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Persons pecuniary interest therein.

SEC source: 0001140361-21-032113 · form4.xml · nonDerivative · entry 1

PEP TG Investments LP · CIK 0001849588 · 10% owner

PEP TG Investments GP LLC · CIK 0001849690 · 10% owner

Dominguez Michael J · CIK 0001320307 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 24,175,226

F1 · kind: Represents shares of common stock ("Common Stock") of Callaway Golf Company (the "Issuer") sold in connection with a secondary offering of the Issuer's Common Stock by PEP TG Investments LP at a price of $27.64125 per share.

F1 · shares: Represents shares of common stock ("Common Stock") of Callaway Golf Company (the "Issuer") sold in connection with a secondary offering of the Issuer's Common Stock by PEP TG Investments LP at a price of $27.64125 per share.

F1 · price: Represents shares of common stock ("Common Stock") of Callaway Golf Company (the "Issuer") sold in connection with a secondary offering of the Issuer's Common Stock by PEP TG Investments LP at a price of $27.64125 per share.

F2 · ownership.direct: This statement is being filed by the following Reporting Persons: PEP TG Investments LP, PEP TG Investments GP LLC and Michael Dominguez and represents shares of Common Stock directly held by PEP TG Investments LP.

F3 · ownership.direct: PEP TG Investments GP LLC is the sole general partner of PEP TG Investments LP. By virtue of such relationship, PEP TG Investments GP LLC has shared voting and investment control with respect to the securities held directly by PEP TG Investments LP, and may be deemed to indirectly beneficially own the securities directly held by PEP TG Investments LP.

F4 · ownership.direct: Michael Dominguez is the sole member of PEP TG Investments GP LLC. By virtue of such relationship, Michael Dominguez has shared voting and investment control with respect to the securities held directly by PEP TG Investments GP LLC, and may be deemed to indirectly beneficially own the securities directly held by PEP TG Investments LP.

F5 · ownership.direct: This report shall not be deemed an admission that PEP TG Investments GP LLC or Michael Dominguez is a beneficial owner of the securities held by PEP TG Investments LP, in each case for the purpose of Section 16 of the Exchange Act, or for any other purpose, except to the extent of their pecuniary interest therein, if any. Each of PEP TG Investments GP LLC and Michael Dominguez disclaims any beneficial ownership with respect to such securities, except to the extent of its respective pecuniary interest therein, if any.

SEC source: 0001209191-21-037292 · doc4.xml · derivative · entry 15

BREWER OLIVER G III · CIK 0001072918 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 497,537 shares

Expires 2023-02-01

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_date: The option vested in three equal installments on February 1, 2014, 2015 and 2016.

SEC source: 0001209191-21-037292 · doc4.xml · nonDerivative · entry 14

BREWER OLIVER G III · CIK 0001072918 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F1 · shares: The reported transactions occurred pursuant to the terms of a Rule 10b5-1 trading plan adopted by the reporting person on February 18, 2021, as amended.

F2 · price: Represents the weighted average sale price for the entire number of shares sold. The actual sales prices range between $37.20 and $37.70. Detailed information on the exact number of shares sold at each sale price can be obtained from the issuer upon request.

SEC source: 0001209191-21-037292 · doc4.xml · nonDerivative · entry 13

BREWER OLIVER G III · CIK 0001072918 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 497,537

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · shares: The reported transactions occurred pursuant to the terms of a Rule 10b5-1 trading plan adopted by the reporting person on February 18, 2021, as amended.

SEC source: 0001209191-21-036021 · doc4.xml · nonDerivative · entry 1

Hickey Glenn F. · CIK 0001764478 · EVP, Callaway Golf

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,296

F1 · shares: The reported transaction occurred pursuant to the terms of a Rule 10b5-1 trading plan adopted by the reporting person on February 18, 2021.

SEC source: 0001209191-21-034111 · doc4.xml · derivative · entry 1

THORNLEY ANTHONY S · CIK 0001191319 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,063

Underlying: Common Stock · 4,063 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

F2 · derivative.exercise_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

F2 · derivative.expiration_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

SEC source: 0001209191-21-034110 · doc4.xml · derivative · entry 1

SEGRE LINDA B · CIK 0001470125 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,063

Underlying: Common Stock · 4,063 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

F2 · derivative.exercise_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

F2 · derivative.expiration_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

SEC source: 0001209191-21-034106 · doc4.xml · derivative · entry 1

Ogunlesi Adebayo O. · CIK 0001481450 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,063

Underlying: Common Stock · 4,063 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

F2 · derivative.exercise_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

F2 · derivative.expiration_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

SEC source: 0001209191-21-034103 · doc4.xml · derivative · entry 1

Marimow Scott M. · CIK 0001849180 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,063

Underlying: Common Stock · 4,063 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

F2 · derivative.exercise_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

F2 · derivative.expiration_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

F3 · balance_after: Represents only the RSUs granted on May 19, 2021 and does not include RSUs with different vesting terms.

SEC source: 0001209191-21-034102 · doc4.xml · derivative · entry 1

LUNDGREN JOHN F · CIK 0001215250 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,063

Underlying: Common Stock · 4,063 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

F2 · derivative.exercise_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

F2 · derivative.expiration_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

SEC source: 0001209191-21-034099 · doc4.xml · derivative · entry 1

FLEISCHER RUSSELL L · CIK 0001108424 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,063

Underlying: Common Stock · 4,063 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

F2 · derivative.exercise_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

F2 · derivative.expiration_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

SEC source: 0001209191-21-034095 · doc4.xml · derivative · entry 1

Flanagan Laura Jean · CIK 0001678896 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,063

Underlying: Common Stock · 4,063 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

F2 · derivative.exercise_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

F2 · derivative.expiration_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

SEC source: 0001209191-21-034092 · doc4.xml · derivative · entry 1

Dundon Thomas G. · CIK 0001518314 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,063

Underlying: Common Stock · 4,063 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

F2 · derivative.exercise_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

F2 · derivative.expiration_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

F3 · balance_after: Represents only the RSUs granted on May 19, 2021 and does not include RSUs with different vesting terms.

SEC source: 0001209191-21-034089 · doc4.xml · derivative · entry 1

Baxter Scott H · CIK 0001509765 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,063

Underlying: Common Stock · 4,063 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

F2 · derivative.exercise_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

F2 · derivative.expiration_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

SEC source: 0001209191-21-034087 · doc4.xml · derivative · entry 1

ARMACOST SAMUEL H · CIK 0001194899 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,063

Underlying: Common Stock · 4,063 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

F2 · derivative.exercise_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

F2 · derivative.expiration_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

SEC source: 0001209191-21-034086 · doc4.xml · derivative · entry 1

ANDERSON ERIK J · CIK 0001174968 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,063

Underlying: Common Stock · 4,063 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

F2 · derivative.exercise_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

F2 · derivative.expiration_date: The RSUs were granted on May 19, 2021 and vest in full on the first anniversary of the grant date.

F3 · balance_after: Represents only the RSUs granted on May 19, 2021 and does not include RSUs with different vesting terms.

SEC source: 0001209191-21-034114 · doc4.xml · nonDerivative · entry 2

Hickey Glenn F. · CIK 0001764478 · EVP, Callaway Golf

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 19,042

F1 · shares: The reported transaction occurred pursuant to the terms of a Rule 10b5-1 trading plan adopted by the reporting person on February 18, 2021.

SEC source: 0001209191-21-034114 · doc4.xml · nonDerivative · entry 1

Hickey Glenn F. · CIK 0001764478 · EVP, Callaway Golf

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 31,419

F1 · shares: The reported transaction occurred pursuant to the terms of a Rule 10b5-1 trading plan adopted by the reporting person on February 18, 2021.

SEC source: 0001209191-21-034113 · doc4.xml · nonDerivative · entry 1

Lynch Brian P. · CIK 0001551277 · EVP, CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

F1 · shares: The reported transactions occurred pursuant to the terms of a Rule 10b5-1 trading plan adopted by the reporting person on February 26, 2021.

SEC source: 0001209191-21-032134 · doc4.xml · derivative · entry 2

THORNLEY ANTHONY S · CIK 0001191319 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 8,228.85 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · derivative.exercise_price: RSUs convert into common stock on a one-for-one basis.

F3 · shares: Represents the number of shares of common stock issued upon the vesting of an RSU plus the number of shares of common stock accrued with respect to such vested portion of the RSU as a result of dividend equivalent rights paid by the Company pursuant to the terms of the award.

F4 · derivative.exercise_date: The RSUs were granted on May 12, 2020 and vested on the first anniversary of the grant date.

F4 · derivative.expiration_date: The RSUs were granted on May 12, 2020 and vested on the first anniversary of the grant date.

SEC source: 0001209191-21-032134 · doc4.xml · nonDerivative · entry 1

THORNLEY ANTHONY S · CIK 0001191319 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 63,653

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · shares: Represents the number of shares of common stock issued upon the vesting of a restricted stock unit ("RSU") plus the number of shares of common stock accrued with respect to such vested portion of the RSU as a result of dividend equivalent rights paid by the Company pursuant to the terms of the award, less fractional shares, which were paid in cash upon settlement.

F2 · price: RSUs convert into common stock on a one-for-one basis.

SEC source: 0001209191-21-032133 · doc4.xml · derivative · entry 2

SEGRE LINDA B · CIK 0001470125 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 8,228.85 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · derivative.exercise_price: RSUs convert into common stock on a one-for-one basis.

F3 · shares: Represents the number of shares of common stock issued upon the vesting of an RSU plus the number of shares of common stock accrued with respect to such vested portion of the RSU as a result of dividend equivalent rights paid by the Company pursuant to the terms of the award.

F4 · derivative.exercise_date: The RSUs were granted on May 12, 2020 and vested on the first anniversary of the grant date.

F4 · derivative.expiration_date: The RSUs were granted on May 12, 2020 and vested on the first anniversary of the grant date.

SEC source: 0001209191-21-032133 · doc4.xml · nonDerivative · entry 1

SEGRE LINDA B · CIK 0001470125 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 42,338

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · shares: Represents the number of shares of common stock issued upon the vesting of a restricted stock unit ("RSU") plus the number of shares of common stock accrued with respect to such vested portion of the RSU as a result of dividend equivalent rights paid by the Company pursuant to the terms of the award, less fractional shares, which were paid in cash upon settlement.

F2 · price: RSUs convert into common stock on a one-for-one basis.