Danielle S. Mottor - May 14, 2021 Form 4 Insider Report for ATLANTIC POWER CORP (AT)

Role: Director
Signature: /s/ John S. Miele, attorney-in-fact
Stock symbol: AT
Transactions as of: May 14, 2021
Transactions value $: -$395,785
Form type: 4
Date filed: 5/19/2021, 07:30 PM

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	AT	Deferred share units	Disposed to Issuer	-$396K	-131K	-100%	$3.03	0	May 14, 2021	Common shares	131K		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Represents previously reported awards of deferred share units ("DSUs") granted under the Deferred Share Unit Plan of Atlantic Power Corporation (the "Company"), which provide for the payment of all accrued DSUs to the reporting person following his or her termination as a director. Each DSU is equal to the economic equivalent of one share of Company common stock, no par value (each, a "Common Share").
F2	Pursuant to the terms of the Arrangement Agreement dated January 14, 2021 by and among the Company, Atlantic Power Preferred Equity Ltd., Atlantic Power Limited Partnership, Tidal Power Holdings Limited and Tidal Power Aggregator, LP, all outstanding awards of DSUs will be cancelled and each non-employee director holding such DSUs will be entitled to receive a cash payment from the Company equal to US$3.03 for each Common Share subject to his or her DSU awards, without interest and less any applicable withholding taxes.

Content

Represents previously reported awards of deferred share units ("DSUs") granted under the Deferred Share Unit Plan of Atlantic Power Corporation (the "Company"), which provide for the payment of all accrued DSUs to the reporting person following his or her termination as a director. Each DSU is equal to the economic equivalent of one share of Company common stock, no par value (each, a "Common Share").

Pursuant to the terms of the Arrangement Agreement dated January 14, 2021 by and among the Company, Atlantic Power Preferred Equity Ltd., Atlantic Power Limited Partnership, Tidal Power Holdings Limited and Tidal Power Aggregator, LP, all outstanding awards of DSUs will be cancelled and each non-employee director holding such DSUs will be entitled to receive a cash payment from the Company equal to US$3.03 for each Common Share subject to his or her DSU awards, without interest and less any applicable withholding taxes.