Joseph C. Gatto Jr. - 01 Apr 2023 Form 4 Insider Report for Callon Petroleum Co

Role
President and CEO, Director
Signature
/s/ Joseph C. Gatto, Jr. by Lucas A. Fried, as Attorney-in-Fact
Issuer symbol
N/A
Transactions as of
01 Apr 2023
Net transactions value
-$431,309
Form type
4
Filing time
04 Apr 2023, 17:31:32 UTC
Previous filing
06 Mar 2023
Next filing
28 Apr 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 +16,266 +16% $0.000000 119,315 01 Apr 2023 Direct F1, F2
transaction CPE Common Stock Tax liability $132,456 -3,961 -3.3% $33.44 115,354 01 Apr 2023 Direct F3, F4
transaction CPE Common Stock Options Exercise $0 +17,568 +15% $0.000000 132,922 01 Apr 2023 Direct F2
transaction CPE Common Stock Tax liability $162,786 -4,868 -3.7% $33.44 128,054 01 Apr 2023 Direct F3, F4
transaction CPE Common Stock Options Exercise $0 +10,338 +8.1% $0.000000 138,392 01 Apr 2023 Direct F2
transaction CPE Common Stock Tax liability $136,067 -4,069 -2.9% $33.44 134,323 01 Apr 2023 Direct F3, F4

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 RSU - Stock Options Exercise -16,266 -100% 0 01 Apr 2023 Common Stock 16,266 Direct F2, F5
transaction CPE 2021 RSU - Stock Options Exercise -17,568 -50% 17,567 01 Apr 2023 Common Stock 17,568 Direct F2, F6
transaction CPE 2022 RSU - Stock Options Exercise -10,338 -33% 20,676 01 Apr 2023 Common Stock 10,338 Direct F2, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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").
F2 Restricted Stock Units ("RSUs") convert into common stock on a one-for-one basis.
F3 Payment of tax liability by withholding common stock incident to vesting of RSU award issued in accordance with Rule 16b-3.
F4 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.
F5 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 vested on April 1, 2023.
F6 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 vested on April 1, 2023. The third and final tranche will vest on April 1, 2024.
F7 On March 9, 2022, the reporting person was granted 31,014 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, 2023. The second tranche will vest April 1, 2024. The third and final tranche will vest on April 1, 2025.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney