CFO of Talen Energy (NYSE: TLN) receives 2026 RSU and PSU grants

Rhea-AI Filing Summary

Talen Energy Corp reported that Chief Financial Officer Cole Muller received new equity awards in the form of restricted stock units. He was granted 5,557 time‑based RSUs for 2026 that may each convert into one share of common stock or cash, with vesting scheduled in 2027, 2028, and 2029, subject to continued service.

He also received 25,934 performance‑based RSUs for 2026 that may settle in common stock or cash if multi‑year performance goals are met as of February 25, 2028 and February 25, 2029. The filing notes these PSU amounts reflect the maximum performance level, up to 200% of target.

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^*

Muller Cole

(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 Financial 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

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	(1)	02/26/2026		A		5,557		(2)	(2)	Common Stock	5,557	$0	5,557	D
2026 Performance-Based Restricted Stock Units	(3)	02/26/2026		A		25,934		(4)	(4)	Common Stock	25,934	$0	25,934	D

Explanation of Responses:

1. 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.

2. 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.

3. 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.

4. 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.

Remarks:

	/s/ John C. Wander, attorney-in-fact	03/02/2026
	** Signature of Reporting Person	Date
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FAQ

What equity awards did Talen Energy (TLN) grant to its CFO?

Talen Energy granted its CFO, Cole Muller, 5,557 time‑based RSUs and 25,934 performance‑based RSUs for 2026. Each unit can settle in one share of common stock or cash, subject to vesting and performance conditions under the company’s 2023 Equity Incentive Plan.

How do the 2026 RSUs for Talen Energy (TLN) CFO vest?

The 2026 RSUs for the CFO vest in three tranches: 2,222 units on February 25, 2027, 2,223 units on February 25, 2028, and 1,112 units on February 25, 2029. Vesting is contingent on his continued service with Talen Energy.

What conditions apply to the performance-based RSUs at Talen Energy (TLN)?

The CFO’s performance-based RSUs vest only if he remains in service and performance goals are achieved. 10,374 PSUs are tied to performance as of February 25, 2028 and 15,560 PSUs to performance as of February 25, 2029, with payouts linked to goal attainment.

What is the maximum payout potential of Talen Energy (TLN) performance-based RSUs?

The filing states the 25,934 performance-based RSUs reflect the maximum performance level of 200% of target. If maximum performance is exceeded, additional PSUs can be earned based on a 3% share of any market capitalization above that maximum performance level.

Can Talen Energy (TLN) settle RSUs and PSUs in cash instead of shares?

Yes. Each RSU and PSU gives a contingent right to receive one share of common stock or its cash equivalent. The Compensation Committee decides at settlement whether to deliver stock or cash, consistent with the company’s 2023 Equity Incentive Plan terms.

Under what plan were Talen Energy (TLN) CFO’s 2026 equity awards granted?

Both the time-based RSUs and performance-based RSUs were granted under the Talen Energy Corporation 2023 Equity Incentive Plan. The plan governs award terms, including vesting schedules, performance conditions, and whether settlement occurs in common stock shares or cash equivalents.