Olagues Darren J 4

What Happened Darren J. Olagues, Chief Development Officer of Talen Energy Corporation (TLN), received equity awards on Feb 26, 2026: 3,450 Restricted Stock Units (RSUs) and 16,096 Performance-Based Restricted Stock Units (PSUs). Both awards were reported as grants (transaction code A) with $0.00 per-unit acquisition price — these are contingent, derivative awards that convert to shares (or cash equivalent) only upon vesting and/or achievement of performance goals.

The RSUs vest solely based on continued service: 1,380 RSUs on Feb 25, 2027; 1,380 RSUs on Feb 25, 2028; and 690 RSUs on Feb 25, 2029. The PSUs vest based on continued service and achievement of performance goals: 6,438 PSUs are tied to performance measured as of Feb 25, 2028 and 9,658 PSUs to performance as of Feb 25, 2029. The PSU awards report the maximum payout (200% of target) for each award and include a potential extra award equal to the reporting person's pro rata share (3%) of the Company’s market capitalization above the maximum performance level.

Key Details

• Transaction date: Feb 26, 2026; Form 4 filed Mar 2, 2026 (filed timely).
• Awards: 3,450 RSUs (service-based vesting) and 16,096 PSUs (performance + service-based vesting) — total 19,546 units.
• Per-unit acquisition price reported: $0.00 (typical for RSU/PSU grants).
• RSU vesting schedule: 1,380 on 2/25/2027; 1,380 on 2/25/2028; 690 on 2/25/2029.
• PSU performance schedule: 6,438 measured as of 2/25/2028; 9,658 measured as of 2/25/2029. Vesting can range 0%–200% of target; potential additional award up to 3% of market cap above max level.
• Footnote: Filing notes inclusion of 117 shares previously purchased under the 2025 ESPP (purchased 6/30/2025).
• Shares owned after this transaction: not specified in the Form 4 provided.

Context

• These are compensation awards, not open-market purchases or sales; they don’t indicate an immediate cash outlay or sale and only convert to shares (or cash) if vesting and/or performance conditions are met. For retail investors, grants like these are common executive compensation and are less direct signals of near-term insider buying or selling than open-market purchases.