Talen Energy (TLN) CCO settles 2023 RSUs, PSUs and remits shares for taxes
Rhea-AI Filing Summary
Talen Energy Corp Chief Commercial Officer Christopher E. Morice reported compensation-related equity activity. On May 22, 2026, 2023 restricted stock units and performance-based restricted stock units granted on June 16, 2023 vested on their third anniversary.
The vesting converted 153,527 performance-based restricted stock units and 14,050 restricted stock units into rights to receive common stock or cash under the 2023 Equity Incentive Plan. For both awards, 60% of the after-tax value was settled in cash.
To cover tax withholding from the RSU and PSU vesting, Morice remitted 26,378 shares of common stock to the company at $324.21 per share in an exempt disposition under Rule 16b-3(e). These events reflect equity compensation settlement and tax withholding rather than open-market buying or selling.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 40,653 shares
Net Buy
5 txns
Insider
Morice Christopher E
Role
Chief Commercial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | 2023 Restricted Stock Units | 14,050 | $0.00 | $0.00 |
| Exercise | 2023 Performance-Based Restricted Stock Units | 153,527 | $0.00 | $0.00 |
| Exercise | Common Stock | 5,620 | $0.00 | $0.00 |
| Exercise | Common Stock | 61,411 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 26,378 | $324.21 | $8.55M |
Holdings After Transaction:
2023 Restricted Stock Units — 0 shares (Direct);
2023 Performance-Based Restricted Stock Units — 0 shares (Direct);
Common Stock — 49,174 shares (Direct)
Footnotes (3)
- 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. The reporting person's RSUs were granted on June 16, 2023 and the final installment of the reporting person's RSUs vested on May 17, 2026, the third anniversary of the vesting commencement date, with 60% of the after-tax value of such RSUs settled in cash.
- F2. 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. The number of PSUs that vest can range from 0% to 200% of the target number of PSUs subject to the award, plus an additional incentive based on the Company's market capitalization at vesting, as more fully set forth in the applicable award agreement. The number of shares in this row represents the actual level of performance (200%) plus the additional incentive shares described above. The reporting person's PSUs were granted on June 16, 2023 and they vested on May 17, 2026, the third anniversary of the vesting commencement date, with 60% of the after-tax value of such PSUs settled in cash.
- F3. In an exempt disposition to the Company under Rule 16b-3(e), the reporting person remitted shares to the Company in connection with the satisfaction of tax withholding obligations arising out of the vesting of the RSUs and PSUs.
Key Figures
Performance-based RSUs vested: 153,527 units
Time-based RSUs vested: 14,050 units
Shares remitted for taxes: 26,378 shares
+3 more
6 metrics
Performance-based RSUs vested
153,527 units
2023 performance-based restricted stock units vested on May 17, 2026
Time-based RSUs vested
14,050 units
2023 restricted stock units vested on May 17, 2026
Shares remitted for taxes
26,378 shares
Common stock delivered to company for tax withholding
Tax withholding price
$324.21 per share
Value used for exempt disposition under Rule 16b-3(e)
Derivative exercises
167,577 shares
Total underlying shares from derivative exercises (M-code)
Cash settlement portion
60% of after-tax value
Portion of RSU and PSU value settled in cash
Key Terms
Restricted Stock Unit, performance-based restricted stock unit, 2023 Equity Incentive Plan, Rule 16b-3(e), +1 more
5 terms
Restricted Stock Unit financial
"Each Restricted Stock Unit ("RSU") was issued under the Talen Energy Corporation 2023 Equity Incentive Plan"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
performance-based restricted stock unit financial
"Each performance-based restricted stock unit ("PSU") was issued under the Plan and represents a contingent right"
A performance-based restricted stock unit is a promise of company shares given to an employee that only becomes actual stock if specific performance targets are met and any required time at the company is completed. For investors, these awards matter because they can dilute existing shares when earned and signal management’s confidence or the company’s expected future performance, much like a bonus cheque that only clears when pre-set goals are reached.
2023 Equity Incentive Plan financial
"was issued under the Talen Energy Corporation 2023 Equity Incentive Plan (the "Plan")"
Rule 16b-3(e) regulatory
"In an exempt disposition to the Company under Rule 16b-3(e), the reporting person remitted shares"
market capitalization financial
"plus an additional incentive based on the Company's market capitalization at vesting"
Market capitalization is the total market value of a company’s outstanding shares, calculated by multiplying the current share price by the number of shares issued. It gives a quick snapshot of a company’s size and how investors value it, influencing perceived risk, index membership, and roughly how much it might cost to buy the whole company — like using a sticker price to compare the relative size and price of different houses.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did Talen Energy Corp (TLN) report for Christopher E. Morice?
Talen Energy reported that Chief Commercial Officer Christopher E. Morice settled 2023 restricted stock units and performance-based restricted stock units into common stock or cash, and remitted 26,378 shares back to the company to satisfy tax withholding obligations related to these vesting events.
Were the recent TLN insider transactions open-market stock sales or purchases?
The reported TLN transactions were not open-market trades. They reflect the vesting and settlement of restricted stock units and performance-based units, plus an exempt disposition of shares to the company to cover tax withholding obligations under Rule 16b-3(e), rather than discretionary buying or selling.
How many Talen Energy performance-based restricted stock units vested for the CCO?
Christopher E. Morice had 153,527 performance-based restricted stock units vest. This number reflects 200% of the target PSU award plus additional incentive units tied to Talen Energy’s market capitalization at vesting, as specified in the applicable performance award agreement and plan documents.
What happened to the 2023 restricted stock units for Talen Energy’s CCO?
The 2023 restricted stock units granted to the CCO on June 16, 2023 vested on May 17, 2026. A total of 14,050 restricted stock units converted into rights to receive Talen Energy common stock or its cash equivalent, with 60% of the after-tax value of the units settled in cash.
Under which plan were the TLN RSUs and PSUs granted to the CCO?
The restricted stock units and performance-based restricted stock units were granted under the Talen Energy Corporation 2023 Equity Incentive Plan. Each unit represents a contingent right to receive one share of common stock or its cash equivalent, as determined by the Compensation Committee at settlement.