FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         	UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB Number: 3235-0287
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                      	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	                      	

1. Name and Address of Reporting Person *

MILLER W. THADDEUS	2. Issuer Name and Ticker or Trading Symbol

CALPINE CORP [ CPN ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
EVP, Chief Legal Officer & Sec	
(Last)          (First)          (Middle)

CALPINE CORPORATION, 717 TEXAS AVENUE, SUITE 1000	3. Date of Earliest Transaction (MM/DD/YYYY)

2/26/2015		
(Street)

HOUSTON, TX 77002
(City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)

 	6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person	

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned	
1.Title of Security
(Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code
(Instr. 8)	4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)	5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)	
			Code	V	Amount	(A) or (D)	Price				
Common Stock, par value $0.001 per share  	2/26/2015  	 	A	  	38641   (1)	A	$0  	349080  	D  	 	
Common Stock, par value $0.001 peer share  	2/26/2015  	 	F	  	3831   (2)	D	$21.46   (3)	345249  	D  	 	
Common Stock, par value $0.001 peer share  	2/28/2015  	 	F	  	3881   (4)	D	$21.2   (5)	341368  	D  	 	
Common Stock, par value $0.001 per share  	 	 	 	  	 	 	 	40462  	I  	As trustee for Son  	
Common Stock, par value $0.001 per share  	 	 	 	  	 	 	 	40462  	I  	As trustee for Son  	
Common Stock, par value $0.001 per share  	 	 	 	  	 	 	 	26967  	I  	As trustee for Son  	
Common Stock, par value $0.001 per share  	 	 	 	  	 	 	 	7880  	I  	By grantor retained annuity trust  	
Common Stock, par value $0.001 per share  	 	 	 	  	 	 	 	11853  	I  	By grantor retained annuity trust  	
Common Stock, par value $0.001 per share  	 	 	 	  	 	 	 	12991  	I  	By grantor retained annuity trust  	
Common Stock, par value $0.001 per share  	 	 	 	  	 	 	 	10162  	I  	By grantor retained annuity trust  	

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)	
1. Title of Derivate Security
(Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code
(Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)	6. Date Exercisable and Expiration Date	7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)	8. Price of Derivative Security
(Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)	
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares					

Explanation of Responses:	
(  1) 	Award of restricted stock pursuant to Calpine Corporation's (the "Company's") Amended and Restated 2008 Equity Incentive Plan (the "Equity Plan"). The award vests in three equal installments on the first, second, and third anniversary dates of the grant date.	
(  2) 	Represents shares withheld by the Company, at the reporting person's request, as permitted under the Equity Plan, to satisfy the reporting person's tax withholding obligation in connection with the vesting on Thursday, February 26, 2015 of certain shares of restricted stock previously awarded to the reporting person. There was no open market sale of shares by the reporting person.	
(  3) 	Closing market price per share of the Company common stock on the transaction date.	
(  4) 	Represents shares withheld by the Company, at the reporting person's request, as permitted under the Equity Plan, to satisfy the reporting person's tax withholding obligation in connection with the vesting on Saturday, February 28, 2015 of certain shares of restricted stock previously awarded to the reporting person. There was no open market sale of shares by the reporting person.	
(  5) 	Closing market price of the Company common stock on Friday, February 27, 2015, representing the closing price per share on the next immediately preceding day on which the New York Stock Exchange was open for trading preceding the Saturday, February 28, 2015 vesting date, as provided under the Equity Plan.	

Reporting Owners	
Reporting Owner Name / Address	Relationships	
	Director	10% Owner	Officer	Other	
MILLER W. THADDEUS
CALPINE CORPORATION
717 TEXAS AVENUE, SUITE 1000
HOUSTON, TX 77002			EVP, Chief Legal Officer & Sec		

Signatures		
/s/ W. Thaddeus Miller		3/2/2015	
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.	
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).	
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).	
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.	
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.