Muller Cole 4
4 · Talen Energy Corp · Filed Mar 2, 2026
Research Summary
AI-generated summary of this filing
Talen Energy (TLN) CFO Muller Cole Receives Equity Awards
What Happened
Muller Cole, Chief Financial Officer of Talen Energy Corporation (TLN), received equity awards on February 26, 2026: 5,557 restricted stock units (RSUs) and 25,934 performance‑based restricted stock units (PSUs). The Form 4 reports these as derivative grants at $0.00 per unit (awards, not purchases or sales). The awards are contingent rights to receive common stock (or cash) upon vesting and/or achievement of performance goals.
Key Details
- Transaction date: February 26, 2026; Form 4 filed March 2, 2026. The filing date is 4 days after the transaction date and appears to exceed the typical 2-business‑day Form 4 deadline.
- Reported amounts and price: 5,557 RSUs @ $0.00 (derivative); 25,934 PSUs @ $0.00 (derivative). Total award units = 31,491.
- Shares owned after transaction: Not specified in the filing.
- Footnotes of note:
- RSUs (F1/F2): 5,557 time‑based RSUs vest in tranches — 2,222 on Feb 25, 2027; 2,223 on Feb 25, 2028; 1,112 on Feb 25, 2029, subject to continued service.
- PSUs (F3/F4): 25,934 PSUs vest only if service and performance goals are met. The filing lists the maximum/200% payout amounts: 10,374 PSUs tied to performance as of Feb 25, 2028 and 15,560 as of Feb 25, 2029; actual payout may range from 0% to 200% of target (plus a possible additional allocation tied to market‑cap performance).
- No sale or purchase occurred — these are grants/awards (code A).
Context
RSUs and PSUs are common executive compensation tools. RSUs vest with continued service; PSUs require meeting performance metrics before converting to shares or cash, so the actual number of shares received could be materially lower or higher than the targets reported. Because these awards were granted (not bought), they should not be read as a direct market purchase or sale signal. The apparent late filing is administrative but worth noting for timeliness tracking.
Insider Transaction Report
- Award
2026 Restricted Stock Units
[F1][F2]2026-02-26+5,557→ 5,557 total→ Common Stock (5,557 underlying) - Award
2026 Performance-Based Restricted Stock Units
[F3][F4]2026-02-26+25,934→ 25,934 total→ Common Stock (25,934 underlying)
Footnotes (4)
- [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.
- [F2]Represents 2,222 RSUs that will vest on February 25, 2027, 2,223 RSUs that will vest on February 25, 2028 and 1,112 RSUs that will vest on February 25, 2029, in each case subject to the reporting person's continued service.
- [F3]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.
- [F4]Represents PSUs that will vest subject to the reporting person's (i) continued service and (ii) achievement of applicable performance goals. 10,374 of the PSUs will be eligible to vest based on performance as of February 25, 2028 and 15,560 of the PSUs will be eligible to vest based on performance as of February 25, 2029. The number of PSUs that vest can range from 0% to 200% of the target number of PSUs subject to the award, plus, if the maximum performance level is exceeded, an additional number of PSUs in an amount equal to the reporting person's proportionate share among the participating executive officers of 3% of the Company's market capitalization above the maximum performance level. The numbers of PSUs and shares of common stock in this row represent the maximum level of performance (or 200%) for each award.