Gregory F. Conaway - 01 Jan 2022 Form 4 Insider Report for Callon Petroleum Co

Role: Vice President & CAO
Signature: /s/ Gregory F. Conaway, by Leisa Munoz, Attorney-in-Fact
Issuer symbol: N/A
Transactions as of: 01 Jan 2022
Net transactions value: -$34,729
Form type: 4
Filing time: 04 Jan 2022, 15:30:36 UTC
Next filing: 11 Mar 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CPE	Common Stock	Options Exercise	$0	+1,645	+4.8%	$0.000000	35,934	01 Jan 2022	Direct	F1
transaction	CPE	Common Stock	Tax liability	$34,729	-735	-2%	$47.25	35,199	01 Jan 2022	Direct	F2, F3

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	2019 RSU - Stock (Inducement Award)	Options Exercise		-1,645	-50%		1,645	01 Jan 2022	Common Stock	1,645		Direct	F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Restricted Stock Units ("RSUs") convert into common stock on a one-for-one basis.
F2	Payment of tax liability by withholding common stock incident to vesting of RSU award issued in accordance with Rule 16b-3.
F3	Each RSU is the economic equivalent of one share of Callon Petroleum Company's common stock at its closing price on the vesting date, or the preceding business day's closing price if the vesting date shouldfall on a weekend or holiday.
F4	The RSU award is subject to three-year ratable vesting with one-third vesting each year subsequent to the award year. The first tranche vested on January 1, 2021. The second tranche vested on January 1, 2022. The third and final tranche will vest on January 1, 2023.
F5	Each RSU is the economic equivalent of one share of Callon Petroleum Company's common stock.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney