Frances A. Sevilla-Sacasa - May 14, 2022 Form 4 Insider Report for Callon Petroleum Co (CPE)

Role
Director
Signature
/s/ Frances A. Sevilla-Sacasa, by Leisa Munoz, as Attorney-in-Fact
Stock symbol
CPE
Transactions as of
May 14, 2022
Transactions value $
$0
Form type
4
Date filed
5/16/2022, 04:15 PM
Previous filing
May 16, 2022
Next filing
May 26, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding CPE Common Stock 2.35K May 14, 2022 Direct

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 Options Exercise $0 -3.24K -100% $0.00* 0 May 14, 2022 Common Stock 3.24K Direct F1, F2, F3
transaction CPE Phantom Stock Units. Options Exercise $0 +3.24K +159.06% $0.00 5.28K May 14, 2022 Common Stock 3.24K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 14, 2021, the reporting person was granted 3,240 restricted stock units ("RSUs") that vested in full on the earlier of (i) first anniversary date 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").
F2 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.
F3 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.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney