James Patrick D'Angelo - May 14, 2021 Form 4 Insider Report for ATLANTIC POWER CORP (AT)

Role: Chief Administrative Officer
Signature: /s/ John S. Miele, attorney-in-fact
Stock symbol: AT
Transactions as of: May 14, 2021
Transactions value $: -$784,579
Form type: 4
Date filed: 5/19/2021, 07:38 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AT	Common shares	Other	-$509K	-168K	-100%	$3.03	0	May 14, 2021	Direct	F1

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	Notional shares	Disposed to Issuer	-$275K	-90.9K	-100%	$3.03	0	May 14, 2021	Common shares	90.9K		Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	Pursuant to the terms of the Arrangement Agreement dated January 14, 2021 (the "Agreement") by and among Atlantic Power Corporation (the "Company"), Atlantic Power Preferred Equity Ltd. ("APPEL"), Atlantic Power Limited Partnership, Tidal Power Holdings Limited and Tidal Power Aggregator, LP (together with Tidal Power Holdings Limited, the "Purchasers"), the Purchasers purchased each share of Company common stock, no par value (each, a "Common Share") at a price per share of US$3.03, net to the seller in cash, without interest thereon and less any required withholding taxes.
F2	Represents previously reported awards of notional shares ("Notional Shares") granted under the Company's Long-Term Incentive Plans, which provide forsettlement of such Notional Shares upon vesting, which occurs ratably over a three year period or upon certain other events. Each Notional Share is equal to theeconomic equivalent of one Common Share.
F3	Pursuant to the terms of the Agreement, all outstanding awards of Notional Shares will vest in full and be cancelled and each person holding such Notional Shareswill be entitled to receive a cash payment from the Company equal to US$3.03 for each Common Share subject to his or her Notional Share awards, withoutinterest and less any applicable withholding taxes.