MAYFIELD ROBERT A 4

4 · CALLON PETROLEUM CO · Filed Aug 25, 2009

Form 4

Period: 2009-08-21

Corporate Secretary

Transactions

Exercise/Conversion
Common Stock
2009-08-21$1.60/sh+3,200$5,120→ 29,553 total
Exercise/Conversion
2006 Performance Shares
2009-08-21$1.60/sh−3,200$5,120→ 3,200 total
Exercise: $15.83From: 2006-08-21Exp: 2010-08-21→ Common Stock (3,200 underlying)
Tax Payment
Common Stock
2009-08-21$1.60/sh−42$67→ 29,511 total

Holdings

Stock Option (Right to Buy)
Exercise: $3.70From: 2003-02-24Exp: 2012-08-23→ Common Stock (1,200 underlying)
1,200
2008 Performance Stock Award
Exercise: $0.00→ Common Stock (4,000 underlying)
4,000
2009 Restricted Stock Units - cash
Exercise: $1.63→ Common Stock (2,100 underlying)
2,100
Stock Option (Right to Buy)
Exercise: $10.50From: 2000-09-23Exp: 2010-03-23→ Common Stock (12,500 underlying)
12,500
Common Stock
(indirect: By 401(k))
76,097
Stock Option (Right to Buy)
Exercise: $4.50From: 2003-01-13Exp: 2012-07-12→ Common Stock (4,800 underlying)
4,800
2009 Restricted Stock Units - shares
Exercise: $1.63→ Common Stock (11,900 underlying)
11,900

Footnotes (4)

[F1]The number of shares reported is calculated by dividing the total market value of the reporting person's account balance within the Callon Petroleum Company Employee Savings and Protection Plan (401(k) Plan) on the day prior to this Form 4 reporting date by the closing market price per share on that day.
[F2]The number of shares awarded is conditioned based on the achievement of a specified performance target, based upon the price of Callon's stock, to be calculated on December 31, 2010. If the performance target is achieved, vesting with respect to the awarded shares will occur on 04/18/2011, the third anniversary following the award date.
[F3]Restricted Stock Units will vest 100% on the third anniversary date following the grant date. Payment will be made in cash based on the average of the opening and closing market price of the underlying common stock of the issuer on the date of vesting.
[F4]Restricted Stock Units will vest 100% on the third anniversary date following the grant date. Payment will be made in shares of common stock of the issuer based on the average of the opening and closing market price of the underlying common stock on the date of vesting.

Documents

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