Sec Form 4 Filing - Ecklund Michol L @ Callon Petroleum Co - 2021-04-01

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

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Ecklund Michol L 2. Issuer Name and Ticker or Trading Symbol Callon Petroleum Co [ CPE] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) SVP,General Counsel & Corp Sec (Last) (First) (Middle) 2000 W. SAM HOUSTON PKWY. S., SUITE 2000 3. Date of Earliest Transaction (MM/DD/YY) 04/01/2021 (Street) HOUSTON, TX77042 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 60 I 401(k) Account Common Stock 04/01/2021 M 1,638 ( 1 ) A 6,733 D Common Stock 04/01/2021 F 645 ( 3 ) ( 4 ) D $ 40.7 ( 4 ) 6,088 D Common Stock 04/01/2021 M 4,840 ( 1 ) A 10,928 D Common Stock 04/01/2021 F 1,905 ( 3 ) ( 4 ) D $ 40.7 ( 4 ) 9,023 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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 2019 RSU - Stock ( 5 ) ( 2 ) 04/01/2021 M 1,638 ( 5 ) ( 5 ) Common Stock 1,638 ( 2 ) 1,638 D 2020 RSU - Stock ( 6 ) ( 2 ) 04/01/2021 M 4,840 ( 6 ) ( 6 ) Common Stock 4,840 ( 2 ) 9,679 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Ecklund Michol L 2000 W. SAM HOUSTON PKWY. S. SUITE 2000 HOUSTON, TX77042 SVP,General Counsel & Corp Sec Signatures /s/ Michol L. Ecklund, by Diana L. Denton, Attorney-in-Fact 04/12/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Reflects the 1-for-10 reverse split of the common stock, par value $0.01, of Callon Petroleum Company, effective August 7, 2020. ( 2 )Restricted Stock Units ("RSUs") convert into Common Stock on a one-for-one basis. ( 3 )Payment of tax liability by withholding Common Stock incident to vesting of RSU award issued in accordance with Rule 16b-3. ( 4 )Pursuant to the Company's 2018 Omnibus Incentive Plan, each RSU is the economic equivalent of one share of CPE Common Stock at its closing price on the vesting date. If the vesting date should fall on a weekend or holiday, the preceding business day's closing price is used. ( 5 )On January 31, 2019, the reporting person was granted 4,914 RSUs (adjusted to reflect the 1-for-10 reverse stock split of common stock described in Footnote 1) subject to three-year ratable vesting with one-third vesting each year subsequent to the award year. The first tranche vested on April 1, 2020. The second tranche vested on April 1, 2021. The third and final tranche will vest on April 1, 2022. ( 6 )On January 31, 2020, the reporting person was granted 14,519 RSUs (adjusted to reflect the 1-for-10 reverse stock split of common stock described in Footnote 1) subject to three-year ratable vesting with one-third vesting each year subsequent to the award year. The first tranche vested on April 1, 2021. The second tranche will vest on April 1, 2022. The third and final tranche will vest on April 1, 2023.

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 4(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).

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