Joseph C. Gatto Jr. - Jun 1, 2021 Form 4 Insider Report for Callon Petroleum Co (CPE)

Role
President and CEO, Director
Signature
/s/ Joseph C. Gatto, Jr. by Brittany Janczak, as Attorney-in-Fact
Stock symbol
CPE
Transactions as of
Jun 1, 2021
Transactions value $
-$62,337
Form type
4
Date filed
6/3/2021, 04:05 PM
Next filing
Jan 4, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CPE Common Stock Options Exercise $0 +3.67K +5.51% $0.00 70.3K Jun 1, 2021 Direct F1, F2
transaction CPE Common Stock Tax liability -$62.3K -1.45K -2.06% $43.14 68.8K Jun 1, 2021 Direct F3, F4
holding CPE Common Stock 6.61K Jun 1, 2021 401(k) Account 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 2018 RSU - Stock Options Exercise $0 -3.67K -100% $0.00* 0 Jun 1, 2021 Common Stock 3.67K $0.00 Direct F2, F5
* 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 Restricted Stock Units ("RSUs") convert into common stock on a one-for-one basis.
F3 Payment of tax liability by withholding common stock incident to vesting of RSU award issued in accordance with Rule 16b-3.
F4 Pursuant to the Company's 2018 Omnibus Incentive Plan, each RSU is the economic equivalent of one share of the Company's common stock at its closing price on the vesting date. If the vesting date should fall on aweekend or holiday, the preceding business day's closing price is used.
F5 On May 10, 2018, the reporting person was granted 11,016 RSUs, as adjusted by the Reverse Stock Split, subject to three-year ratable vesting with one-third vesting each year subsequent to the award year. The first tranche vested on June 1, 2019. The second tranche vested on June 1, 2020 and the third and final tranche vested on June 1, 2021.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney