Lebsack Dale E Jr. 4

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.