Form 4: Con Edison CEO's Year-End Stock Transactions
Insider Transaction Report
Con Edison's Chairman, President & CEO, Timothy Cawley, reported year-end stock transactions including the conversion of restricted stock units and shares withheld for tax obligations.
Summary
- Timothy Cawley, Chairman, President & CEO of Consolidated Edison, Inc., reported transactions on December 31, 2025.
- Acquired 22,400 shares of common stock through the conversion of time-based restricted stock units.
- Disposed of 11,436 shares of common stock at a price of $99.89 per share to cover tax withholding obligations.
- Following these transactions, direct beneficial ownership stands at 126,604.732 shares of common stock.
- Indirect beneficial ownership includes 4.294 shares through the Company's Thrift Plan, which saw a decrease of 0.001 shares between January 31, 2025, and December 31, 2025.
- Additional shares were acquired under the Company's Stock Purchase Plan (388.794 shares) for periods from February 2025 to November 2025.
- Deferred stock units (DSUs) totaling 3,581.988 were acquired through the Long Term Incentive Plan's dividend reinvestment provision on March 15, 2025 (852.289 DSUs), June 15, 2025 (864.258 DSUs), September 15, 2025 (928.579 DSUs), and December 15, 2025 (936.862 DSUs).
Sentiment
Score: 5
Explanation: The filing is a routine disclosure of insider transactions related to executive compensation and tax obligations. It does not contain information that would significantly alter the company's financial outlook or operational performance, thus maintaining a neutral sentiment.
Positives
- Conversion of 22,400 time-based restricted stock units into common stock, representing the vesting and realization of equity compensation.
- Acquisition of 388.794 shares through the Company's Stock Purchase Plan, indicating ongoing participation in employee stock programs.
- Acquisition of 3,581.988 deferred stock units (DSUs) through the Long Term Incentive Plan's dividend reinvestment provision, increasing future equity holdings.
Negatives
- Disposal of 11,436 shares of common stock at $99.89 per share to satisfy tax withholding obligations related to the RSU conversion, reducing direct share count.
Future Outlook
NA
Industry Context
This Form 4 filing details routine insider transactions related to equity compensation for a senior executive at a major utility company. Such transactions are common across the utility sector as part of executive compensation packages, reflecting the vesting of long-term incentives and subsequent tax obligations.
Stakeholder Impact
- Shareholders: Minimal direct impact as these are routine compensation-related transactions, not indicative of a change in company fundamentals or strategy.
- Employees: No direct impact beyond the executive involved.
Key Dates
| Date | Description |
|---|---|
| 01/31/2025 | Start of the period for the reported change in Thrift Plan shares. |
| 02/2025 | Start of the period for shares acquired under the Company's Stock Purchase Plan. |
| 03/15/2025 | Acquisition of 852.289 deferred stock units (DSUs) via dividend reinvestment. |
| 06/15/2025 | Acquisition of 864.258 deferred stock units (DSUs) via dividend reinvestment. |
| 09/15/2025 | Acquisition of 928.579 deferred stock units (DSUs) via dividend reinvestment. |
| 12/15/2025 | Acquisition of 936.862 deferred stock units (DSUs) via dividend reinvestment. |
| 12/31/2025 | Date of earliest transaction, including RSU conversion and tax withholding. Also the end of the period for Stock Purchase Plan acquisitions and Thrift Plan share changes. |
| 01/05/2026 | Signature date of the reporting person's attorney-in-fact. |
Keywords
Consolidated Edison, ED, Insider Trading, Form 4, Restricted Stock Units, Equity Compensation, Stock Transactions, CEO Stock, Utility Sector
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