Form 4: Ameren Executive Acquires Shares Under 10b5-1 Plan

Ameren's EVP, GC & Secretary, David M. Feinberg, acquired 4,449 shares of common stock through a dividend reinvestment feature of restricted stock units.

Summary

• David M. Feinberg, Executive Vice President, General Counsel & Secretary of Ameren Corp (AEE), acquired 4,449 shares of common stock.
• The acquisition occurred on February 5, 2026, at a price of $0 per share, indicating it was not an open market purchase.
• This transaction includes 27 accrued dividend equivalents acquired during the fourth quarter of 2025, pursuant to a dividend reinvestment feature of restricted stock units granted under the issuer's 2022 Omnibus Incentive Compensation Plan.
• The transaction was made pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• Following this reported transaction, Mr. Feinberg directly beneficially owns 8,260 shares of Ameren common stock.
• Additionally, Mr. Feinberg holds an estimated 9 share equivalents in the unitized stock fund within the Ameren Corporation Savings Investment Plan as of January 31, 2026.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive signal, as it reflects an executive's increasing stake in the company, albeit through a non-discretionary compensation mechanism rather than an open market purchase.

Positives

• An executive acquiring shares, even through a compensation plan, generally signals continued alignment of management interests with shareholders.
• The transaction was conducted under a Rule 10b5-1 plan, indicating a pre-planned, non-discretionary acquisition, which can reduce concerns about opportunistic insider trading.

Future Outlook

No explicit forward-looking statements or guidance are provided in this Form 4 filing.

Industry Context

StockSavvy.ai notes that insider acquisitions, even through compensation plans, can be viewed positively as they demonstrate continued executive commitment to the company's long-term performance, particularly in the utility sector where stability and consistent returns are often valued by investors.

Related Party Transactions

• The acquisition of shares by an executive is inherently a related party transaction, as it involves a company insider.

Stakeholder Impact

• Shareholders: May view the executive's increased ownership as a positive sign of alignment and confidence in the company's future.

Key Dates

Recommendation

This Form 4 filing details a routine acquisition of shares by an executive through a compensation plan and dividend reinvestment, pre-arranged under a 10b5-1 plan. While it shows continued alignment of management interests, it does not represent a discretionary open market purchase that would typically signal strong conviction or new material information. Therefore, it does not warrant a change in investment stance, suggesting a 'hold' for existing investors.

Keywords

Ameren Corp, AEE, David M. Feinberg, Form 4, insider transaction, stock acquisition, executive compensation, 10b5-1 plan, restricted stock units, dividend reinvestment