X0306 4 2017-03-01 0 0001379895 DYNEGY INC. DYN 0001236545 FLEXON ROBERT C 601 TRAVIS 14TH FLOOR HOUSTON TX 77002 1 1 0 0 President and CEO Common Stock 2017-03-01 4 A 0 228330 0 A 657792 D Employee Stock Option (Right to Buy) 8.02 2017-03-01 4 A 0 352561 0 A 2027-03-01 Common Stock 352561 352561 D The grants of the restricted stock units were approved by a committee of the Issuer's Board of Directors on March 1, 2017. 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 equal installments beginning on March 1, 2017. Amount includes 19,105 restricted stock units that vest on March 3, 2017, 40,174 restricted stock units that vest in two annual equal installments beginning on March 3, 2017 and 153,563 restricted stock units that vest on April 30, 2018. The grants of the stock options were approved by a committee of the Issuer's Board of Directors on March 1, 2017. Option grant pursuant to rule 16b-3(d). The option becomes exercisable in three annual equal installments beginning March 1, 2018. /s/ Heidi D. Lewis, Attorney-in-Fact 2017-03-03