SEC Form 4 · accession 0000916457-17-000086
CALPINE CORP · CPN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thad Hill
Officer — President & CEO · Director
Period of report
May 16, 2017
Accepted (ET)
May 18, 2017 · 7:10 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000916457
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.001 per shareF1 | May 16, 2017 | A | 9,677 | $0.00 | A | 597,541 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F2 | $12.40 | May 16, 2017 | A | 15,571 | A | May 16, 2020 | May 16, 2027 | Common Stock, par value $0.001 per share | 15,571 | 15,571 | D |
| Performance Stock UnitsF3 | $0.00 | May 16, 2017 | A | 6,706 | A | — | — | Common Stock, par value $0.001 per share | 6,706 | 6,706 | D |
Explanation of responses
- F1Award of restricted stock pursuant to Calpine Corporation's (the "Company") 2017 Equity Incentive Plan. The award vests in three equal annual installments on the first, second and third anniversary dates of the grant date.
- F2Granted pursuant to the Company's 2017 Equity Incentive Plan; vesting 100% on May 16, 2020.
- F3Granted pursuant to the Company's 2017 Equity Incentive Plan. The number of performance share units ("PSUs") reported represents the "target" number of PSUs that may be earned. Each PSU represents a contingent right to receive 0-150% of the target award. PSUs will vest and be paid in cash (in an amount equal to the product of the number of earned PSUs multiplied by the fair market value of one share of common stock of the Company as of the last trading day of the performance cycle) upon achievement of the specified thresholds of the Company's total shareholder return over the three-year performance period of May 16, 2017 through May 15, 2020, following the Compensation Committee's certification of performance as soon as practicable following completion of the performance period.