SEC FORM 3

SEC FORM 3 SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Casulli Edward T.

(Last)

(First)

(Middle)

2929 ALLEN PKWY

SUITE 2200

(Street)

HOUSTON

77019

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
12/15/2025

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

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SVP & Chief Nuclear Officer

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
2023 Restricted Stock Units	⁽¹⁾	⁽¹⁾	Common Stock	6,376	⁽²⁾	D
2023 Performance-Based Restricted Stock Units	⁽³⁾	⁽³⁾	Common Stock	9,564	⁽⁴⁾	D
2025 Restricted Stock Units	⁽⁵⁾	⁽⁵⁾	Common Stock	1,875	⁽²⁾	D
2025 Performance-Based Restricted Stock Units	⁽⁶⁾	⁽⁶⁾	Common Stock	2,902	⁽⁴⁾	D

Explanation of Responses:

1. Represents Restricted Stock Units ("RSUs") that, subject to the reporting person's continued service, will vest on May 17, 2026.

2. Each 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

3. Represents Performance-Based Restricted Stock Units ("PSUs") that, subject to the reporting person's (i) continued service and (ii) achievement of applicable performance goals, will vest on May 17, 2026. The number of PSUs that vest can range from 0% to 200% of the target number of PSUs subject to the award. The numbers of PSUs and shares of common stock in this row represent the maximum level of performance (or 200%).

4. Each 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 RSUs that, subject to the reporting person's continued service, will vest on February 28, 2027.

6. Represents PSUs that, subject to the reporting person's (i) continued service and (ii) achievement of applicable performance goals, will vest on February 28, 2027. The number of PSUs that vest can range from 0% to 200% of the target number of PSUs subject to the award. The numbers of PSUs and shares of common stock in this row represent the maximum level of performance (or 200%).

Remarks:

	/s/ John C. Wander, attorney-in-fact	12/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

SEC Form 3 filed by new insider Casulli Edward T.