Joseph C. Gatto Jr. - 01 Apr 2022 Form 4 Insider Report for Callon Petroleum Co

Role
President and CEO, Director
Signature
/s/ Joseph C. Gatto, Jr. by Leisa Munoz, as Attorney-in-Fact
Issuer symbol
N/A
Transactions as of
01 Apr 2022
Net transactions value
-$1,004,151
Form type
4
Filing time
05 Apr 2022, 16:19:14 UTC
Previous filing
11 Mar 2022
Next filing
04 Jan 2023
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 +7,043 +9.6% $0.000000 80,538 01 Apr 2022 Direct F2, F3
transaction CPE Common Stock Tax liability $173,028 -2,772 -3.4% $62.42 77,766 01 Apr 2022 Direct F4, F5
transaction CPE Common Stock Options Exercise $0 +16,266 +21% $0.000000 94,032 01 Apr 2022 Direct F2, F3
transaction CPE Common Stock Tax liability $399,550 -6,401 -6.8% $62.42 87,631 01 Apr 2022 Direct F4, F5
transaction CPE Common Stock Options Exercise $0 +17,568 +20% $0.000000 105,199 01 Apr 2022 Direct F3
transaction CPE Common Stock Tax liability $431,572 -6,914 -6.6% $62.42 98,285 01 Apr 2022 Direct F4, F5
holding CPE Common Stock 0 01 Apr 2022 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 2019 RSU - Stock Options Exercise -7,043 -100% 0 01 Apr 2022 Common Stock 7,043 Direct F3, F6
transaction CPE 2020 RSU - Stock Options Exercise -16,266 -50% 16,266 01 Apr 2022 Common Stock 16,266 Direct F3, F7
transaction CPE 2021 RSU - Stock Options Exercise -17,568 -33% 35,135 01 Apr 2022 Common Stock 17,568 Direct F3, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Effective March 31, 2022, Callon Petroleum Company (the "Company") eliminated the Company stock fund as an investment alternative available under the Company's 401(k) plan. As a result, the shares of the Company's common stock that the reporting person previously reported as beneficially owned under the 401(k) plan were liquidated.
F2 Reflects the 1-for-10 reverse split of the common stock, par value $0.01, of the Company, effective August 7, 2020 (the "Reverse Stock Split").
F3 Restricted Stock Units ("RSUs") convert into common stock on a one-for-one basis.
F4 Payment of tax liability by withholding common stock incident to vesting of RSU award issued in accordance with Rule 16b-3.
F5 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 a weekend or holiday, the preceding business day's closing price is used.
F6 On January 31, 2019, the reporting person was granted 21,130 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 April 1, 2020. The second tranche vested on April 1, 2021. The third and final tranche vested on April 1, 2022.
F7 On January 31, 2020, the reporting person was granted 48,799 RSUs, as adjusted by the Reverse Stock Split, subject to the three-year ratable vesting with one-third vesting each year subsequent to the award year. The first tranche vested on April 1, 2021. The second tranche vested on April 1, 2022. The third and final tranche will vest on April 1, 2023.
F8 On March 12, 2021, the reporting person was granted 52,703 RSUs subject to the three-year ratable vesting with one-third vesting each year subsequent to the award year. The first tranche vested on April 1, 2022. The second tranche will vest on April 1, 2023. The third and final tranche will vest on April 1, 2024.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney