| Schedule of Common Stock Activity |
The table below summarizes our common stock activity for the years ended December 31, 2016, 2015 and 2014. | | | | | | | | | | | Shares Issued | | Shares Held in Treasury | | Shares Outstanding | Balance, December 31, 2013 | 497,841,056 |
| | (68,802,068 | ) | | 429,038,988 |
| Shares issued under Calpine Equity Incentive Plans | 4,445,966 |
| | (1,879,167 | ) | | 2,566,799 |
| Share repurchase program | — |
| | (49,684,523 | ) | | (49,684,523 | ) | Balance, December 31, 2014 | 502,287,022 |
| | (120,365,758 | ) | | 381,921,264 |
| Shares issued under Calpine Equity Incentive Plans | 2,431,236 |
| | (1,089,328 | ) | | 1,341,908 |
| Share repurchase program | — |
| | (26,601,168 | ) | | (26,601,168 | ) | Retirement of shares held in treasury | (147,962,511 | ) | | 147,962,511 |
| | — |
| Balance, December 31, 2015 | 356,755,747 |
| | (93,743 | ) | | 356,662,004 |
| Shares issued under Calpine Equity Incentive Plans | 2,871,366 |
| | (449,079 | ) | | 2,422,287 |
| Share repurchase program | — |
| | (22,527 | ) | | (22,527 | ) | Balance, December 31, 2016 | 359,627,113 |
| | (565,349 | ) | | 359,061,764 |
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