Steven A. Webster - Apr 26, 2023 Form 4 Insider Report for Callon Petroleum Co (CPE)

Role
Director
Signature
/s/ Steven A. Webster, by Lucas A. Fried, as Attorney-in-Fact
Stock symbol
CPE
Transactions as of
Apr 26, 2023
Transactions value $
$0
Form type
4
Date filed
4/28/2023, 04:19 PM
Previous filing
Feb 28, 2023
Next filing
May 11, 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CPE Common Stock Options Exercise $0 +3.06K +0.57% $0.00 543K Apr 26, 2023 Direct F1
holding CPE Common Stock 64.5K Apr 26, 2023 by wife
holding CPE Common Stock 149K Apr 26, 2023 by San Felipe Resources Company

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 CPE 2022 RSU - Stock Options Exercise -3.06K -100% 0 Apr 26, 2023 Common Stock 3.06K Direct F1, F2
transaction CPE 2023 RSU - Stock Award +4.67K 4.67K Apr 26, 2023 Common Stock 4.67K Direct F3, F4
transaction CPE Phantom Stock Units Award +2.99K +22.65% 16.2K Apr 26, 2023 Common Stock 2.99K Direct F5, F6, F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.
F2 On May 25, 2022, the reporting person was granted 3,055 RSUs that vested in full on the earlier of (i) the first anniversary of the grant date or (ii) the date of the Company's 2023 Annual Meeting of Shareholders. The Company's 2023 Annual Meeting of Shareholders was held on April 26, 2023.
F3 On April 26, 2023, the reporting person was granted 4,666 RSUs. The RSUs will vest in full on the earlier of (i) the first anniversary of the grant date or (ii) the date of the Company's 2024 Annual Meeting of Shareholders. The reporting person elected that upon vesting these RSUs convert into Phantom Stock Units pursuant to the Company's Deferred Compensation Plan for Outside Directors (the "Plan").
F4 RSUs convert into Phantom Stock Units on a one-for-one basis, and each Phantom Stock Unit is the economic equivalent of one share of common stock.
F5 The reporting person elected to defer his 2023 director retainer pursuant to the Plan. Under the Plan, all deferrals are converted to Phantom Stock Units.
F6 The number of Phantom Stock Units issued is the amount of cash compensation deferred divided by the five (5) day average closing price of common stock on the grant date, which was $33.47 on April 26, 2023.
F7 Each Phantom Stock Unit is the economic equivalent of one share of common stock.
F8 The Phantom Stock Units will be paid upon the reporting person's retirement from the Company's Board of Directors pursuant to the Plan. The reporting person has elected to have his Phantom Stock Units distributed in cash.

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney