X0303 4 2010-05-19 0 0000916457 CALPINE CORP CPN 0001200540 CASSIDY FRANK C/O CALPINE CORPORATION 717 TEXAS AVENUE, STE. 1000 HOUSTON TX 77002 1 0 0 0 Common Stock 2010-05-19 4 A 0 6367 0.00 A 11396 D Represents award of restricted stock units pursuant to Calpine Corporation's 2008 Director Incentive Plan. The award vests on the earlier to occur of (i) the first anniversary of the grant date or (ii) the day immediately preceding the date of the 2011 annual meeting of stockholders. The shares become payable on the earliest to occur of (i) the reporting person's elected distribution date, (ii) the consummation of a change in control, or (iii) upon termination of service on the board of directors. Each restricted stock unit represents a contingent right to receive one share of Calpine Corporation common stock. The restricted stock units are payable solely in common stock. Exhibit 24 - Power of Attorney /s/ W. Thaddeus Miller, Attorney-in-Fact 2010-05-21