X0306 4 2015-04-01 0 0001379895 DYNEGY INC. DYN 0001552646 Alonso Mario E 601 TRAVIS 14TH FLOOR HOUSTON TX 77002 0 1 0 0 EVP-Strategic Planning & Dev Common Stock 2015-04-01 4 A 0 16502 0 A 36971 D Common Stock 2015-04-02 4 M 0 3496 A 40467 D Common Stock 2015-04-02 4 D 0 3496 31.29 D 36971 D Phantom Stock 2014-04-02 4 M 0 3496 A Common Stock 3496 0 D The grants of restricted stock units were approved by a committee of the Issuer's Board of Directors on April 1, 2015. Restricted stock unit grant pursuant to Rule 16b-3(d). Each restricted stock unit represents a contingent right to receive one share of Dynegy Inc. common stock. The restricted stock units vest in three annual installments beginning on April 1, 2016. Amount includes 1357 restricted stock units that vest on October 29, 2015, 1,623 restricted stock units that vest on March 18, 2016, 4,053 restricted stock units that vest in two annual equal installments beginning on March 3, 2016, 7,710 restricted stock units that vest in three annual equal installments beginning on March 3, 2016, and 16,502 restricted stock units that vest in three annual equal installments beginning on April 1, 2016. Each unit of phantom stock is the economic equivalent of one share of common stock. The units of phantom stock become payable in cash within 30 days after the vesting date, April 2, 2015. On April 2, 2015, 3496 phantom stock units vested and were settled in cash based upon the closing stock price of $31.29 on April 2, 2015. /s/ Heidi D. Lewis, Attorney-in-Fact 2015-04-03