Wright Andrew M 4

What Happened
Andrew M. Wright, Chief Administrative Officer of Talen Energy Corporation (TLN), was granted equity awards on February 26, 2026: 3,450 restricted stock units (RSUs) and 16,096 performance-based restricted stock units (PSUs). The awards were reported as derivative acquisitions with a $0.00 acquisition price (typical for compensatory equity grants). These awards total 19,546 contingent units that may convert to common shares or cash at settlement per the plan terms.

Key Details

• Transaction date: February 26, 2026; Form 4 filed March 2, 2026 (filed within the required 2 business days).
• Price: $0.00 (award/grant; no cash paid by the insider).
• Awards: 3,450 RSUs; 16,096 PSUs (19,546 units total).
• RSU vesting (per filing): 1,380 RSUs vest Feb 25, 2027; 1,380 RSUs vest Feb 25, 2028; 690 RSUs vest Feb 25, 2029 — each subject to continued service.
• PSU vesting (per filing): PSUs vest based on continued service and performance goals — 6,438 PSUs tied to performance as of Feb 25, 2028 and 9,658 PSUs tied to performance as of Feb 25, 2029. The filing reports the maximum (200%) payout levels; actual vesting can range from 0%–200% (plus a possible additional award tied to 3% of market cap above the maximum).
• Shares owned after transaction: not specified in the provided filing excerpt. Note footnote: filing also references 117 shares purchased under the 2025 ESPP (F1).

Context
RSUs and PSUs are compensatory, contingent rights to receive common stock or cash at settlement; they are not open-market purchases or sales. RSUs vest by service dates listed above; PSUs require both continued service and achievement of performance targets before any shares are delivered. Such awards are routine for executive compensation and should be viewed as compensation rather than a direct market bet by the insider.