Lebsack Dale E Jr. 4
4 · Talen Energy Corp · Filed May 27, 2026
Research Summary
AI-generated summary of this filing
Talen (TLN) Chief Asset Dev. Officer Receives RSUs/PSUs; 33,692 Shares Remitted
What Happened
- Dale E. Lebsack Jr., Chief Asset Development Officer at Talen Energy Corporation (TLN), had restricted stock units (RSUs) and performance-based restricted stock units (PSUs) convert/settle. The Form 4 reports multiple derivative conversions on May 22, 2026 related to awards granted June 16, 2023 and vested on May 17, 2026.
- The filing shows conversions totaling 299,664 RSU/PSU units (multiple entries). As part of settlement, Lebsack remitted 33,692 shares to the company on May 22 to satisfy tax withholding obligations, reported as a disposition valued at $10,923,283. Other conversion entries reflect cash settlement/derivative conversions (reported with $0 share price in the filing).
Key Details
- Transaction date(s): Conversions and tax-withholding remittance reported on May 22, 2026; Form 4 filed May 27, 2026 (filed after the transaction date).
- Reported amounts: Conversion/derivative entries total 299,664 units across the filing; 33,692 shares were remitted to Talen to satisfy tax withholding ($10,923,283).
- Transaction codes: M = exercise/conversion of derivative (RSU/PSU conversion); F = payment of exercise price or tax liability (share remittance for tax withholding).
- Footnotes: RSUs and PSUs were granted under the 2023 Equity Incentive Plan (granted June 16, 2023; vested May 17, 2026). PSUs vested at maximum performance (200%) plus an additional incentive; 60% of the after-tax value of both RSUs and PSUs is settled in cash per the award terms. The remittance to the company for tax withholding was an exempt disposition under Rule 16b-3(e).
- Shares owned after the transaction: not specified in the provided filing details.
- Timeliness: Form filed May 27 for transactions reported May 22; this is later than the typical two-business-day window for Section 16 reporting.
Context
- These transactions are award vesting and settlement events, not open-market purchases or discretionary sales. Much of the award value appears to have been settled in cash per the plan terms, and a portion of shares were remitted to cover tax obligations (a routine outcome of equity award vesting).
- For retail investors: award vesting and tax withholding remittances are common and don’t necessarily signal buy/sell intent. The notable item here is the large tax withholding (~$10.9M) reflecting the size of the vested awards.
Insider Transaction Report
Form 4
Lebsack Dale E Jr.
Chief Asset Dev. Officer
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-05-22+7,178→ 18,179 total - Exercise/Conversion
Common Stock
[F2]2026-05-22+78,440→ 96,619 total - Tax Payment
Common Stock
[F3]2026-05-22$324.21/sh−33,692$10,923,283→ 62,927 total - Exercise/Conversion
2023 Restricted Stock Units
[F1]2026-05-22−17,946→ 0 total→ Common Stock (17,946 underlying) - Exercise/Conversion
2023 Performance-Based Restricted Stock Units
[F2]2026-05-22−196,100→ 0 total→ Common Stock (196,100 underlying)
Footnotes (3)
- [F1]Each Restricted Stock Unit ("RSU") was issued under the Talen Energy Corporation 2023 Equity Incentive Plan (the "Plan") and represents a contingent right to receive one share of common stock, par value $0.001 ("common stock") of Talen Energy Corporation (the "Company") or its cash equivalent, as determined at the time of settlement by the Compensation Committee of the Company's Board of Directors (the "Committee") pursuant to the terms of the Plan. The reporting person's RSUs were granted on June 16, 2023 and the final installment of the reporting person's RSUs vested on May 17, 2026, the third anniversary of the vesting commencement date, with 60% of the after-tax value of such RSUs settled in cash.
- [F2]Each performance-based restricted stock unit ("PSU") was issued under the Plan and represents a contingent right to receive one share of common stock or its cash equivalent, as determined at the time of settlement by the Committee pursuant to the terms of the Plan. The number of PSUs that vest can range from 0% to 200% of the target number of PSUs subject to the award, plus an additional incentive based on the Company's market capitalization at vesting, as more fully set forth in the applicable award agreement. The number of shares in this row represents the actual level of performance (200%) plus the additional incentive shares described above. The reporting person's PSUs were granted on June 16, 2023 and they vested on May 17, 2026, the third anniversary of the vesting commencement date, with 60% of the after-tax value of such PSUs settled in cash.
- [F3]In an exempt disposition to the Company under Rule 16b-3(e), the reporting person remitted shares to the Company in connection with the satisfaction of tax withholding obligations arising out of the vesting of the RSUs and PSUs.
Signature
/s/ Daniel J. Kelly, attorney-in-fact|2026-05-27