X0305 4 2012-05-15 0 0001089819 CLECO CORP CNL 0001186052 GARRETT J PATRICK P.O. BOX 5000 PINEVILLE LA 71361-5000 1 0 0 0 Common Stock, $1.00 par 50732.808 D Phantom Stock 2012-05-15 4 A 0 440 40.30 A Common Stock, $1.00 par 440 57082.866 D The shares of phantom stock relate to dividend reinvestment on shares of phantom stock pursuant to the terms and provisions of the Cleco Corporation Deferred Compensation Plan (the "Plan"). The reporting person has elected to defer receipt of these shares under the Plan. Each share of phantom stock is the economic equivalent of one share of Cleco Corporation common stock. Includes 10,764 shares of phantom stock (not subject to restrictions) related to dividend reinvestment on shares of phantom stock pursuant to the terms and provisions of the Plan. Includes (a) 1,846 shares of phantom stock subject to restrictions that lapse on January 26, 2013; (b) 2,140 shares of phantom stock subject to restrictions that lapse on January 25, 2014; (c) 2,544 shares of phantom stock subject to restrictions that lapse on January 30, 2015; (d) 2,149 shares of phantom stock subject to restrictions that lapse on January 29, 2016; (e) 1,898 shares of phantom stock subject to restrictions that lapse on January 28, 2017 and (f) 2,113 shares of phantom stock subject to restrictions that lapse on January 27, 2018. Julia E. Callis, Atty-in-fact for J. Patrick Garret 2012-05-17