SEC Form 4 · accession 0001209191-15-051963
Talen Energy Corp · TLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Paul A Farr
Officer — President & CEO · Director
Period of report
Jun 8, 2015
Accepted (ET)
Jun 10, 2015 · 5:58 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001622536
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | Jun 8, 2015 | A | 123,134 | $0.00 | A | 128,130 | D | |
| Common StockF3 | Jun 8, 2015 | J | 17 | $18.94 | D | 0 | I | See Footnote |
| Common StockF4 | holding | — | — | — | 1 | I | See Footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Options (Right to Buy)F5 | $19.00 | Jun 8, 2015 | A | 477,262 | A | — | Jun 8, 2025 | Common Stock | 477,262 | 477,262 | D |
Explanation of responses
- F1Reflects a grant of restricted stock units that vests in full on June 8, 2018.
- F2Includes shares of common stock of the Issuer acquired in the spinoff of the Issuer from PPL Corporation.
- F3Reflects shares of common stock of the Issuer held in the PPL Corporation Employee Stock Ownership Plan (the "PPL ESOP") as a result of the spinoff of the Issuer from PPL Corporation. The reported sale reflects a mandatory disposition by the trustee of the PPL ESOP of the shares received in connection with the spinoff of the Issuer from PPL Corporation.
- F4Reflects a share of common stock owned by the Reporting Person's daughter in a custodial account, which share was acquired in the spinoff of the Issuer from PPL Corporation.
- F5The options vest in three equal annual installments beginning on June 8, 2016.