Frances A. Sevilla-Sacasa - May 14, 2021 Form 4 Insider Report for Callon Petroleum Co (CPE)

Role
Director
Signature
/s/ Frances A. Sevilla-Sacasa, by Michol L. Ecklund, Attorney-in-Fact
Stock symbol
CPE
Transactions as of
May 14, 2021
Transactions value $
$0
Form type
4
Date filed
5/17/2021, 05:45 PM
Previous filing
May 17, 2021
Next filing
May 28, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding CPE Common Stock 2.35K May 14, 2021 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CPE 2021 RSU - Stock Award $0 +3.24K $0.00 3.24K May 14, 2021 Common Stock 3.24K Direct F2, F3, F4
transaction CPE 2020 RSU - Stock Options Exercise $0 -2.04K -100% $0.00* 0 May 14, 2021 Common Stock 2.04K Direct F3, F4, F5
transaction CPE Phantom Stock Units. Options Exercise $0 +2.04K $0.00 2.04K May 14, 2021 Common Stock 2.04K Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the 1-for-10 reverse split of the common stock, par value $0.01, of Callon Petroleum Company, effective August 7, 2020 (the "Reverse Stock Split").
F2 On May 14, 2021, the reporting person was granted 3,240 restricted stock units ("RSUs"). The RSUs vest in full on the earlier of (i) the first anniversary of the grant date or (ii) the date of the Company's 2022 Annual Meeting of Shareholders. The reporting person elected that upon vesting these RSUs convert into Phantom Stock Units pursuant to the Deferred Compensation Plan for Outside Directors (the "Plan").
F3 RSUs convert into Phantom Stock Units on a one-for-one basis, and each Phantom Stock Unit is the economic equivalent of one share of common stock.
F4 The Phantom Stock Units will be distributed to the reporting person pursuant to the Plan. The reporting person has elected to have the Phantom Stock Units distributed in cash.
F5 On June 8, 2020, the reporting person was granted 2,037 RSUs, as adjusted by the Reverse Stock Split, that vested in full on the earlier of (i) first anniversary date of the grant date or (ii) the date of the Company's 2021 Annual Meeting of Shareholders. The reporting person elected that upon vesting these RSUs convert into Phantom Stock Units pursuant to the Plan.