Form 4: Con Edison VP Reports Stock Ownership Changes

Joseph Miller, VP & Controller of Consolidated Edison, reported transactions including the acquisition of 600 common shares and disposition of 15 shares for tax purposes.

Summary

• Joseph Miller, VP & Controller of Consolidated Edison, Inc. (ED), reported changes in beneficial ownership.
• On December 31, 2025, 600 shares of Common Stock were acquired through the conversion of time-based restricted stock units.
• On December 31, 2025, 15 shares of Common Stock were disposed of at a price of $99.89 per share to cover tax liabilities.
• Following these transactions, direct beneficial ownership stands at 4,317.181 shares of Common Stock.
• Indirect beneficial ownership through the Tax Reduction Act Stock Ownership Plan (TRASOP) increased by 0.985 shares between November 30, 2025, and December 31, 2025, totaling 119.956 shares.
• Deferred Stock Units (DSUs) were acquired through dividend reinvestment on various dates in 2025: 5.552 on March 15, 19.456 on June 15, 20.904 on September 15, and 21.090 on December 15.

Sentiment

Score: 5

Explanation: This is a factual report of insider transactions, which are routine and do not inherently carry positive or negative sentiment beyond the mechanics of compensation and tax obligations.

Positives

• Acquisition of 600 common shares through the conversion of time-based restricted stock units, indicating vesting of executive compensation.
• Accumulation of 66.902 Deferred Stock Units (DSUs) throughout 2025 via dividend reinvestment, increasing indirect equity exposure.
• An increase of 0.985 shares in the Tax Reduction Act Stock Ownership Plan (TRASOP) between November 30, 2025, and December 31, 2025.

Negatives

• Disposition of 15 common shares at $99.89 per share to satisfy tax withholding obligations.

Future Outlook

No specific forward-looking statements or guidance are provided in this Form 4 filing, which primarily reports historical insider transactions.

Industry Context

This Form 4 filing details routine insider stock transactions for an executive at a utility company. Such filings are standard disclosures and typically do not reflect broader industry trends, but rather individual executive compensation and ownership changes within the specific company.

Related Party Transactions

• The reported transactions, including the conversion of restricted stock units and acquisition of deferred stock units, represent standard executive compensation arrangements between the company and its Vice President & Controller.

Stakeholder Impact

• Shareholders: Provides transparency regarding executive stock ownership and compensation, which is a routine aspect of corporate governance.

Key Dates

Keywords

Consolidated Edison, ED, Form 4, Insider Trading, Stock Ownership, Executive Compensation, Joseph Miller, Restricted Stock Units, Deferred Stock Units, TRASOP