Nutt Terry L 4

What Happened
Terry L. Nutt, President of Talen Energy Corporation, was granted a total of 40,176 derivative equity awards on February 26, 2026. The filing shows two award lines: 7,090 restricted stock units (RSUs) and 33,086 performance-based restricted stock units (PSUs). Both grants were recorded at $0.00 (no cash paid at grant) and are contingent rights to receive common stock (or cash equivalent) upon vesting/settlement.

Key Details

• Transaction date: 2026-02-26; Form 4 filed 2026-03-02 (appears within the normal Form 4 reporting window).
• RSUs: 7,090 units (per Footnote F3). Vesting schedule — 2,836 RSUs vest 2/25/2027, 2,836 RSUs vest 2/25/2028, and 1,418 RSUs vest 2/25/2029, subject to continued service.
• PSUs: 33,086 units (per Footnote F5). PSUs are performance-based; 13,234 are tied to performance measured 2/25/2028 and 19,852 to 2/25/2029. Vesting can range from 0% to 200% of target; the reported number reflects the maximum (200%) treatment and may include an extra pool tied to market-cap outperformance.
• Price/consideration: $0.00 per unit at grant (derivative awards; no immediate cash outlay).
• Prior ownership note: filing includes 74 shares purchased under the 2025 ESPP (Footnote F1). The awards are contingent and not immediately issued as common shares.
• Footnotes: RSUs and PSUs were issued under the 2023 Equity Incentive Plan (F2, F4). PSUs vesting is subject to both continued service and performance goals (F5).

Context
These awards are standard executive compensation—RSUs vest based on continued service, PSUs vest based on performance metrics. Because they are derivative awards (not open‑market purchases or sales), they represent potential future ownership if vesting and performance conditions are met rather than an immediate buy or sell signal.