John M. Richardson - Mar 31, 2022 Form 4 Insider Report for Constellation Energy Corp (CEG)

Role: Director
Signature: /s/ Brian Buck, Attorney-in-Fact for John Richardson
Stock symbol: CEG
Transactions as of: Mar 31, 2022
Transactions value $: $42,852
Form type: 4
Date filed: 4/4/2022, 09:02 PM
Previous filing: Mar 30, 2022
Next filing: Apr 5, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CEG	Common Stock (Deferred Stock Units)	Award	$42.9K	+835	+8.8%	$51.32	10.3K	Mar 31, 2022	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	In connection with the separation of the Issuer from Exelon Corp. effective February 1, 2022 (the "Spin-Off"), as further described in the Constellation Energy Group Inc. ("Constellation") current report on Form 8-K filed on February 2, 2022, each Exelon deferred stock unit ("DSU") held immediately prior to the Spin Off by a Constellation employee or director was replaced with a substitute Constellation DSU in an amount equal to the number of Exelon DSUs multiplied by a fraction, the numerator of which is the volume-weighted average price of Exelon common stock for the five trading days preceding and including February 1, 2022, and the denominator of which is the volume-weighted average price of Constellation common stock ("Common Stock") for the five trading days beginning February 2, 2022. Each substitute Constellation DSU shall vest based on the holder's continued service, and otherwise shall have substantially the same terms and conditions as the corresponding Exelon DSU.
F2	Balance includes approximately 9,463 DSUs acquired in connection with the Spin-Off in a transaction exempt from Section 16 of the Exchange Act pursuant to Rule 16a-9 under the Exchange Act and approximately 26 shares acquired on March 10, 2022 through automatic dividend reinvestment.

Content

In connection with the separation of the Issuer from Exelon Corp. effective February 1, 2022 (the "Spin-Off"), as further described in the Constellation Energy Group Inc. ("Constellation") current report on Form 8-K filed on February 2, 2022, each Exelon deferred stock unit ("DSU") held immediately prior to the Spin Off by a Constellation employee or director was replaced with a substitute Constellation DSU in an amount equal to the number of Exelon DSUs multiplied by a fraction, the numerator of which is the volume-weighted average price of Exelon common stock for the five trading days preceding and including February 1, 2022, and the denominator of which is the volume-weighted average price of Constellation common stock ("Common Stock") for the five trading days beginning February 2, 2022. Each substitute Constellation DSU shall vest based on the holder's continued service, and otherwise shall have substantially the same terms and conditions as the corresponding Exelon DSU.

Balance includes approximately 9,463 DSUs acquired in connection with the Spin-Off in a transaction exempt from Section 16 of the Exchange Act pursuant to Rule 16a-9 under the Exchange Act and approximately 26 shares acquired on March 10, 2022 through automatic dividend reinvestment.