Gregory F. Conaway - 31 Dec 2022 Form 4 Insider Report for Callon Petroleum Co

Role
Vice President & CAO
Signature
/s/ Gregory F. Conaway, by Lucas A. Fried, Attorney-in-Fact
Issuer symbol
N/A
Transactions as of
31 Dec 2022
Net transactions value
-$52,189
Form type
4
Filing time
04 Jan 2023, 16:53:25 UTC
Previous filing
05 Apr 2022
Next filing
06 Mar 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 +724 +1.9% $0.000000 38,317 31 Dec 2022 Direct F1
transaction CPE Common Stock Disposed to Issuer $26,115 -724 -1.9% $36.07 37,593 31 Dec 2022 Direct
transaction CPE Common Stock Options Exercise $0 +724 +1.9% $0.000000 38,317 31 Dec 2022 Direct F2
transaction CPE Common Stock Tax liability $7,974 -215 -0.56% $37.09 38,102 31 Dec 2022 Direct F3
transaction CPE Common Stock Options Exercise $0 +1,645 +4.3% $0.000000 39,747 01 Jan 2023 Direct F4
transaction CPE Common Stock Tax liability $18,100 -488 -1.2% $37.09 39,259 01 Jan 2023 Direct F5, F6

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 2020 Performance Units - 50% Stock/50% Cash Options Exercise -724 -100% 0 31 Dec 2022 Common Stock 724 Direct F1, F7, F8
transaction CPE 2020 Performance Units - 50% Stock/50% Cash Options Exercise -724 -100% 0 31 Dec 2022 Common Stock 724 Direct F2, F7, F9
transaction CPE 2019 RSU - Stock (Inducement Award) Options Exercise -1,645 -100% 0 01 Jan 2023 Common Stock 1,645 Direct F10, F11
* 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 Restricted Stock Units ("RSUs") convert into common stock on a one-for-one basis.
F5 Payment of tax liability by withholding common stock incident to vesting of RSU award issued in accordance with Rule 16b-3.
F6 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 should fall on a weekend or holiday.
F7 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 300%. On the vesting date, this Performance Unit award vested at the 18% level.
F8 The terms of this Performance Unit Award specify payment in cash.
F9 The terms of this Performance Unit Award specify payment in stock.
F10 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 vested on January 1, 2023.
F11 Each RSU is the economic equivalent of one share of Callon Petroleum Company's common stock.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney