Michol L. Ecklund - Dec 31, 2021 Form 4 Insider Report for Callon Petroleum Co (CPE)

Role
SVP,General Counsel & Corp Sec
Signature
/s/ Michol L. Ecklund, by Leisa Munoz, Attorney-in-Fact
Stock symbol
CPE
Transactions as of
Dec 31, 2021
Transactions value $
-$129,267
Form type
4
Date filed
1/4/2022, 03:33 PM
Previous filing
Jun 3, 2021
Next filing
Mar 11, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CPE Common Stock Options Exercise $0 +1.84K +19.56% $0.00 11.3K Dec 31, 2021 Direct F1
transaction CPE Common Stock Disposed to Issuer -$90.4K -1.84K -16.36% $49.04 9.42K Dec 31, 2021 Direct
transaction CPE Common Stock Options Exercise $0 +1.84K +19.56% $0.00 11.3K Dec 31, 2021 Direct F2
transaction CPE Common Stock Tax liability -$38.9K -823 -7.31% $47.25 10.4K Dec 31, 2021 Direct F3
holding CPE Common Stock 60 Dec 31, 2021 401(k) Account

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 Performance Units - 50% Stock/50% Cash Options Exercise -1.84K -100% 0 Dec 31, 2021 Common Stock 1.84K Direct F1, F4, F5
transaction CPE 2019 Performance Units - 50% Stock/50% Cash Options Exercise -1.84K -100% 0 Dec 31, 2021 Common Stock 1.84K Direct F2, F4, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Per the terms of the applicable award agreement, each Performance Unit paid in cash is valued at the average of the 20-day closing price of one share of Callon Petroleum Company's common stock as of the vesting date.
F2 Each Performance Unit paid in stock is the equivalent of one share of Callon Petroleum Company's common stock.
F3 Payment of tax liability by withholding common stock incident to vesting of Performance Unit award issued in accordance with Rule 16b-3.
F4 This Performance Unit award was subject to a variable number of units vesting based on a performance criteria related to the total shareholder return of the Company compared to a group of peer companies. The number of units subject to vest under this award ranged from 0% to 200%. On the vesting date, this Performance Unit award vested at the 50% level.
F5 The terms of this Performance Unit Award specify payment in cash.
F6 The terms of this Performance Unit Award specify payment in stock.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney