SCHAEFER STEPHEN 4

What Happened
Stephen Schaefer, a director of Talen Energy Corporation (TLN), received a grant of 1,118 restricted stock units (RSUs) on 2026-02-26. The RSUs were reported as a derivative award (code A) with an acquisition price of $0.00; they represent a contingent right to one share each (or a cash equivalent) upon settlement.

Key Details

• Transaction date: 2026-02-26; Form 4 filed 2026-03-02 (timely under the two-business-day rule).
• Transaction type/code: Grant/Award (A) of RSUs (derivative securities).
• Amount: 1,118 RSUs granted at $0.00 (no immediate cash paid).
• Vesting: These RSUs vest on February 25, 2027, subject to Schaefer’s continued service (see footnote).
• Shares owned after transaction: Not specified in this filing.
• Footnotes: RSUs issued under the Talen Energy Corporation 2023 Equity Incentive Plan; each RSU is a contingent right to one common share or cash equivalent as determined at settlement.

Context
RSU grants are a common form of executive/director compensation and do not represent an immediate purchase or sale of shares. They become actual shares (or cash) only if/when they vest and are settled per the plan terms; therefore this filing is informational about future potential ownership rather than an immediate market transaction.