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Filing Details

Accession Number:: 0001140361-14-021957
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2014-05-16 16:44:36
Reporting Period:: 2014-05-14

Filing Date:: 2014-05-16
Accepted Time:: 2014-05-16 16:44:36
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
916457	Calpine Corp	CPN	Electric Services (4911)	770212977

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1254013	C David Merritt	C/O Calpine Corporation 717 Texas Avenue, Ste. 1000 Houston TX 77002		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Par Value $0.001 Per Share	Acquisiton	2014-05-14	4,452	$0.00	30,827	No	4	A	Direct
Common Stock, Par Value $0.001 Per Share	Disposition	2014-05-15	10,000	$22.39	20,827	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	A	Direct
No	4	S	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, Par Value $0.001 Per Share	10,000	Indirect	By David C. Merritt Defined Benefit Plan & Trust

Footnotes

Represents award of restricted stock units pursuant to Calpine Corporation's Amended and Restated 2008 Director Incentive Plan. The awards vest on the earlier to occur of (i) the first anniversary of the grant date or (ii) the day immediately preceding the date of the 2015 annual meeting of stockholders. The vested shares will be issued and delivered to the reporting person on the earliest to occur of (i) the reporting person's elected distribution date, (ii) the consummation of a change in control, or (iii) upon termination of service on the board of directors. Each restricted stock unit represents a contingent right to receive one share of Calpine Corporation common stock. The restricted stock units are settled solely in common stock.
As an Internal Revenue Service regulation prohibits a transfer of shares from the reporting person's personal account directly into his pension fund account, the reporting person elected to effect the transfer by purchasing shares in the open market for deposit in his pension fund account and subsequently selling the same number of shares into the open market from his personal account. Therefore, as previously reported, on August 19, 2013 the reporting person purchased 10,000 shares in the open market for deposit into his pension fund account to hold as a long-term investment. The reporting person is hereby reporting a sale of the same number of shares from his personal account effective May 15, 2014.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions. 1,500 shares were sold at $22.37 per share, 100 shares were sold at $22.3725 per share, 200 shares were sold at $22.375 per share, 3,500 shares were sold at $22.38 per share, 100 shares were sold at $22.39 per share, 200 shares were sold at $22.395 per share, 1,000 shares were sold at $22.40 per share, 1,500 shares were sold at $22.41 per share, 600 shares were sold at $22.42 per share, 1,100 shares were sold at $22.43 per share, and 200 shares were sold at $22.435 per share.