Talen Energy (TLN) awards RSU and PSU grants to Chief Development Officer

Rhea-AI Filing Summary

Talen Energy Corp granted its Chief Development Officer, Darren J. Olagues, equity awards that increase his potential share-based compensation. He received 3,450 time-based restricted stock units that vest in three installments through February 25, 2029, subject to continued service. He was also awarded 16,096 performance-based restricted stock units, representing the maximum 200% payout level, which may vest in 2028 and 2029 based on performance goals and continued service. Following these awards, he directly holds 117 shares of common stock acquired under the company’s employee stock purchase plan.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Olagues Darren J

(Last) (First) (Middle)

2929 ALLEN PKWY, SUITE 2200

(Street)

HOUSTON TX 77019

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Talen Energy Corp [ TLN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Development Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								117(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
2026 Restricted Stock Units	(2)	02/26/2026		A		3,450		(3)	(3)	Common Stock	3,450	$0	3,450	D
2026 Performance-Based Restricted Stock Units	(4)	02/26/2026		A		16,096		(5)	(5)	Common Stock	16,096	$0	16,096	D

Explanation of Responses:

1. Includes 117 shares of common stock, par value $0.001 ("common stock"), of Talen Energy Corporation (the "Company") purchased from the 2025 Talen Energy Corporation Employee Stock Purchase Plan on June 30, 2025.

2. 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 of 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.

3. Represents 1,380 RSUs that will vest on February 25, 2027, 1,380 RSUs that will vest on February 25, 2028 and 690 RSUs that will vest on February 25, 2029, in each case subject to the reporting person's continued service.

4. 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.

5. Represents PSUs that will vest subject to the reporting person's (i) continued service and (ii) achievement of applicable performance goals. 6,438 of the PSUs will be eligible to vest based on performance as of February 25, 2028 and 9,658 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.

Remarks:

	/s/ John C. Wander, attorney-in-fact	03/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did Talen Energy Corp (TLN) disclose in this Form 4 for Darren J. Olagues?

Talen Energy disclosed that Chief Development Officer Darren J. Olagues received new equity awards: 3,450 restricted stock units and 16,096 performance-based restricted stock units, plus he now directly holds 117 shares of common stock from the employee stock purchase plan.

How many restricted stock units did TLN grant to its Chief Development Officer?

Talen Energy granted Darren J. Olagues 3,450 restricted stock units. These RSUs vest in three tranches on February 25, 2027, February 25, 2028, and February 25, 2029, contingent on his continued service with the company over that period.

What are the terms of the performance-based restricted stock units granted by TLN?

Talen Energy granted 16,096 performance-based restricted stock units to Darren J. Olagues. These PSUs may vest based on meeting performance goals as of February 25, 2028 and February 25, 2029, with the disclosed number reflecting the maximum 200% performance payout level.

When will Darren J. Olagues’ TLN restricted stock units vest?

Of the 3,450 restricted stock units, 1,380 vest on February 25, 2027, another 1,380 on February 25, 2028, and 690 on February 25, 2029, each installment requiring Darren J. Olagues to remain in service with Talen Energy.

How is the payout for TLN’s performance-based restricted stock units determined?

The payout for Talen’s performance-based units depends on achieving specified performance goals. Vesting can range from 0% to 200% of target, with potential additional PSUs tied to 3% of the company’s market capitalization above the maximum performance level, allocated among participating executives.

How many TLN common shares does Darren J. Olagues directly own after these transactions?

After these transactions, Darren J. Olagues directly holds 117 shares of Talen Energy common stock. These shares were purchased through the 2025 Talen Energy Corporation Employee Stock Purchase Plan, as disclosed in the accompanying footnote to the Form 4 filing.