Mary Shafer-Malicki - May 25, 2022 Form 4 Insider Report for Callon Petroleum Co (CPE)

Role
Director
Signature
/s/Mary Shafer-Malicki by Leisa Munoz, Attorney-in-Fact
Stock symbol
CPE
Transactions as of
May 25, 2022
Transactions value $
$0
Form type
4
Date filed
5/26/2022, 08:55 PM
Previous filing
Jan 3, 2022
Next filing
Apr 28, 2023

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 2022 RSU - Stock Award +3.06K 3.06K May 25, 2022 Common Stock 3.06K Direct F1, F2
transaction CPE 2021 RSU - Stock Options Exercise -1.22K -100% 0 May 25, 2022 Common Stock 1.22K Direct F2, F3
transaction CPE Phantom Stock Units. Options Exercise +1.22K 1.22K May 25, 2022 Common Stock 1.22K Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 25, 2022, the reporting person was granted 3,055 Restricted Stock Units ("RSUs"). The RSUs vest in full on the earlier of (i) the first anniversary of the grant date or (ii) the date of the Company's 2023 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 common stock on a one-for-one basis.
F3 On January 1, 2022, the reporting person was granted 1,223 RSUs that vested in full on the earlier of (i) the anniversary of the grant date or (ii) the date of the Company's 2022 Annual Shareholder Meeting.
F4 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 shares of common stock.
F5 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.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney