SEC Form 4 · accession 0000928022-16-000110

CALLON PETROLEUM CO · CPE

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — Chairman / President / CEO · Director

Period of report

Dec 31, 2015

Accepted (ET)

Jan 5, 2016 · 4:47 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000928022

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I
Common Stock^F1	Dec 31, 2015	M	542,182	—	A	894,822	D
Common Stock	Dec 31, 2015	D	542,182	$8.34	D	357,140	D
Common Stock	Dec 31, 2015	G	4,500	$0.00	D	352,640	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
2013 Phantom Units - Performance Based^F2,F1	—	Dec 31, 2015	M	271,091	D	Dec 31, 2015	Dec 31, 2015	Common Stock	271,091	0	D

F1The terms of this Phantom Unit award specify payment in cash rather than in stock, and includes a provision providing for a variable percentage payout (ranging from 0% to 200%) based on a performance criteria related to the Total Shareholder Return of the Company compared to a group of peer companies. On the vesting date, the reporting person's Phantom Shares held vested at the 200% level. The amount payable was based on the economic value of one share of Callon Petroleum Company common stock, calculated using the closing price on the vesting date.
F2This Phantom Share award is subject to vesting on December 31, 2015 and is payable in cash rather than stock. In addition, the award is subject to a variable percentage payout based on a performance criteria related to the total Shareholder Return of the Company compared to a group of peer companies. Therefore, this award can range from 0% to 200% of its original value at the vesting date.