Form 4: Consolidated Edison Director Acquires Shares Through Deferred Stock Units

Michael W. Ranger, a director at Consolidated Edison, acquired shares through deferred stock units (DSUs) in lieu of cash for the quarterly board retainer fee.

Summary

• On June 28, 2024, Michael W. Ranger, a director of Consolidated Edison Inc. [ED], acquired 545.18 shares of common stock through Deferred Stock Units (DSUs).
• The DSUs were acquired in lieu of cash for the quarterly board retainer fee at a price of $89.42 per share.
• These shares were acquired under the Consolidated Edison, Inc. Long Term Incentive Plan.
• Following the transaction, Ranger's total beneficial ownership of Consolidated Edison common stock is 88,564.536 shares, which includes 790.732 DSUs acquired on June 15, 2024, through dividend reinvestment.
• The filing indicates that Ranger's holdings are directly owned.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects a routine transaction of a director acquiring shares as part of their compensation. It doesn't indicate any significant positive or negative outlook.

Positives

• A director's decision to take compensation in stock can be seen as a positive signal, indicating confidence in the company's future performance.

Industry Context

Directors acquiring company stock is a common practice, especially in regulated industries like utilities, where long-term stability and dividend payouts are valued.

Comparison to Industry Standards

• Comparing director stock ownership changes at Consolidated Edison to peers like Exelon, Duke Energy, and Southern Company could provide insights into management's confidence relative to the industry.
• Similar filings from directors at comparable companies can be used to benchmark the size and frequency of stock acquisitions.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it signals confidence from a company director.

Key Dates