Form 4: Consolidated Edison CEO Stuart Nachmias Reports Stock Transactions
SEC Form 4 Filing
Stuart Nachmias, President & CEO of Consolidated Edison, reports the acquisition and disposal of company stock and derivative securities on December 31, 2024.
Summary
- On December 31, 2024, Stuart Nachmias, the President & CEO of Consolidated Edison, executed transactions involving the company's stock.
- Nachmias acquired 1,500 shares of common stock through the conversion of time-based restricted stock units.
- He also disposed of 541 shares to cover tax obligations at a price of $89.16 per share.
- Following these transactions, Nachmias directly owns 7,768.525 shares of Consolidated Edison common stock.
- This includes shares acquired under the company's Stock Purchase Plan and deferred stock units (DSUs) acquired through dividend reinvestment.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document simply reports required insider trading activity without indicating positive or negative performance.
Industry Context
Executive stock transactions are routinely monitored as indicators of management's confidence in the company's prospects. Form 4 filings are a standard part of regulatory compliance for corporate insiders.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
- The frequency and size of these transactions are typical for executives at large, publicly traded companies like Consolidated Edison.
- Comparing Nachmias's holdings and transactions to those of CEOs at peer utilities (e.g., NextEra Energy, Duke Energy) would provide a benchmark for assessing the magnitude of his stake and activity.
Stakeholder Impact
- The transactions themselves have minimal direct impact on stakeholders.
- However, consistent insider ownership is generally viewed positively by shareholders as it aligns management's interests with theirs.
Key Dates
| Date | Description |
|---|---|
| May 31, 2024 | Start date for the period of shares acquired under the Company's Stock Purchase Plan. |
| June 15, 2024 | Date of acquisition of 46.107 deferred stock units (DSUs). |
| September 15, 2024 | Date of acquisition of 40.437 deferred stock units (DSUs). |
| November 30, 2024 | End date for the period of shares acquired under the Company's Stock Purchase Plan. |
| December 15, 2024 | Date of acquisition of 45.977 deferred stock units (DSUs). |
| December 31, 2024 | Date of the reported transactions: acquisition of 1,500 shares via restricted stock units and disposal of 541 shares for tax obligations. |
| December 31, 2024 | Expiration date of Time-Based Restricted Stock Units. |
| January 03, 2025 | Date of signature for the report. |
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