Form 4: Ameren SVP Sells Shares Under 10b5-1 Plan

Theresa A. Shaw, SVP of Finance and CAO at Ameren Corp, reported the sale of common stock and an acquisition through a 401(k) plan, all under a pre-arranged 10b5-1 plan.

Summary

• Theresa A. Shaw, SVP, Finance and CAO of Ameren Corp (AEE), reported transactions in company common stock.
• The transactions were executed pursuant to a Rule 10b5-1(c) plan, indicating they were pre-scheduled.
• Shaw acquired an estimated 884 shares indirectly through the Ameren Corporation Savings Investment Plan (401(k)) as of October 31, 2025.
• Shaw directly disposed of 325 shares of common stock at a price of $104.77 per share on November 14, 2025.
• Shaw also directly disposed of 1,432 shares of common stock at a price of $0 per share on November 14, 2025, likely indicating a gift or transfer.
• Following these transactions, Shaw beneficially owns 32,942 shares directly after the $104.77 sale and 31,510 shares directly after the $0 disposition.

Sentiment

Score: 5

Explanation: Neutral. While there is a net reduction in direct beneficial ownership, the transactions are routine, pre-planned under a 10b5-1 plan, and include an acquisition through a 401(k) plan, mitigating any strong negative sentiment.

Positives

• The transactions were conducted under a Rule 10b5-1(c) plan, which demonstrates pre-planning and reduces the implication of trading on material non-public information.
• An estimated 884 shares were acquired indirectly through the company's 401(k) plan, indicating continued investment in the company through employee benefits.

Negatives

• A direct sale of 325 shares occurred at $104.77 per share, representing a reduction in direct beneficial ownership.
• A direct disposition of 1,432 shares at $0, while potentially a gift, also reduces direct beneficial ownership.

Future Outlook

No future outlook provided in this Form 4 filing.

Industry Context

This filing reports routine insider transactions for a utility company executive. Such transactions are common across all industries and do not inherently reflect specific industry trends, especially when conducted under a 10b5-1 plan.

Related Party Transactions

• Acquisition of 884 shares indirectly through the Ameren Corporation Savings Investment Plan (401(k)), which is a company-sponsored employee benefit plan.

Stakeholder Impact

• Shareholders: May view the insider selling as a minor negative signal, though mitigated by the 10b5-1 plan. The overall impact on shareholder confidence is likely minimal given the routine nature and relatively small scale of the transactions compared to total outstanding shares.
• Employees: The 401(k) acquisition indicates continued participation in employee benefit plans.

Key Dates

Keywords

Ameren Corp, AEE, Theresa A. Shaw, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, Corporate Officer, Utility Sector