| Schedule of Common Stock Activity |
The table below summarizes our common stock activity for the years ended December 31, 2018, 2017 and 2016. | | | | | | | | | | | Shares Issued | | Shares Held in Treasury | | Shares Outstanding | 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 |
| Shares issued under Calpine Equity Incentive Plans | 2,050,778 |
| | (596,451 | ) | | 1,454,327 |
| Balance, December 31, 2017 | 361,677,891 |
| | (1,161,800 | ) | | 360,516,091 |
| Shares issued under Calpine Equity Incentive Plans | 355,805 |
| | (477,711 | ) | | (121,906 | ) | Cancellation of Calpine Corporation common stock in accordance with the Merger Agreement | (362,033,696 | ) | | 1,639,511 |
| | (360,394,185 | ) | Conversion of Merger Sub common stock to Calpine Corporation common stock in accordance with the Merger Agreement | 105.2 |
| | — |
| | 105.2 |
| Balance, December 31, 2018 | 105.2 |
| | — |
| | 105.2 |
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