Form 4 for CEG Constellation Energy

Accepted 2026-01-09 00:00:00 ET · period of report 2026-01-07 · accession 0000905148-26-000108 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
	2026-01-09	2026-01-07	CEG	Novotny Andrew R.	See Remarks	A - Grant	—	+298.9K	298.9K	New	—

Purchase Sale Sale after option exercise All abbreviations

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Common Stock	2026-01-07	A	A	298,853	—	298,853	D	—	—	(F2) These shares of Common Stock are subject to various restrictions, including lock-up agreements and time-based vesting conditions. (F1) On January 7, 2026, upon consummation of the mergers and internal reorganization set forth in the Agreement and Plan of Merger, dated as of January 10, 2025 (the "Merger Agreement"), by and among the Issuer, Calpine Corporation, a Delaware corporation ("Calpine"), various direct and indirect wholly owned subsidiaries of each of the Issuer and Calpine, and a representative of the stockholders of Calpine, Calpine became an indirect, wholly owned subsidiary of the Issuer. In connection therewith, each common share of Calpine held by the reporting person was converted into the right to receive the Per Share Cash Consideration and Per Share Stock Consideration, each as defined in the Merger Agreement, with cash paid in lieu of any fractional share of the Issuer's Common Stock payable under the Per Share Stock Consideration.