X0306 4 2014-03-14 0001441849 CLOUD PEAK ENERGY INC. CLD 0001581657 Jones Bruce E 505 SOUTH GILLETTE AVENUE GILLETTE WY 82716 1 Sr. Vice President, Tech Svcs Common Stock 2014-03-14 4 A 0 3553 0 A 14502 D Common Stock 2014-03-15 4 F 0 148 19.35 D 14354 D Employee Non-Qualified Stock Option (Right to Buy) 19.35 2014-03-14 4 A 0 7727 0 A 2017-03-14 2024-03-14 Common Stock 7727 7727 D Performance Units 2014-03-14 4 A 0 7106 0 A Common Stock 7106 7106 D Each restricted stock unit represents a contingent right to receive one share of Cloud Peak Energy Inc. common stock. 100% of the restricted stock units vest three years after the date of grant. Reflects the number of shares of common stock withheld by the Issuer in satisfaction of the Reporting Person's tax withholding obligation upon the tax vesting of restricted stock issued in 2012, based on the retirement eligibility of such Reporting Person under the terms of the applicable restricted stock agreement. Each performance right represents a contingent right to receive one share of Cloud Peak Energy Inc. (CPE) common stock. The performance rights vest 3 years from the date of grant upon CPE's achievement of performance goals, which are based upon CPE's relative and absolute total shareholder return. These achievements may result in a payout ranging between 0% and 200% of the target. The number of performance rights shown in columns 5 and 7 is equal to the target number of performance rights that may be earned. There is no expiration date for performance rights. /s/ Lisa Kish, attorney-in-fact for Bruce E. Jones 2014-03-18