Item 5. OTHER INFORMATION

Rule 10b5-1 Trading Plans

Except as set forth below, during the three months ended June 30, 2026, none of our directors or executive officers (as defined in Rule 16a-1 under the Exchange Act) adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any "non-Rule 10b5-1 trading arrangement" (as defined in Item 408 under Regulation S-K of the Exchange Act).

On May 18, 2026, Andrew Novotny, Senior Executive Vice President, Constellation Power Operations, and President and CEO, Calpine, entered into a stock trading plan designed to comply with Rule 10b5-1 under the Exchange Act. Under the terms of the plan, Mr. Novotny is scheduled to sell an aggregate of 118,915 shares of common stock in trades scheduled from August 2026 through January 2027. The plan will terminate on January 15, 2027.