Form 4: Consolidated Edison VP & Controller Increases Stake in Company
SEC Form 4
Joseph Miller, VP & Controller of Consolidated Edison, reports acquiring additional shares of common stock through a recent transaction and employee stock purchase plan.
Summary
- Joseph Miller, VP & Controller of Consolidated Edison, filed a Form 4 detailing changes in beneficial ownership.
- On September 16, 2024, Miller acquired 0.925 shares of common stock at a price of $105.07 per share.
- Miller also reported an increase of 0.975 shares held indirectly through the Tax Reduction Act Stock Ownership Plan (TRASOP) between May 31, 2024, and August 31, 2024.
- The report includes shares acquired under the Consolidated Edison, Inc. Employee Stock Purchase Plan on June 30, 2024 (13.076 shares), July 31, 2024 (2.279 shares), and August 31, 2024 (2.188 shares).
Sentiment
Score: 5
Explanation: The sentiment is neutral as it's a routine disclosure of insider trading activity. The VP's purchase could be seen as a slightly positive signal, but it's not a major event.
Positives
- The VP & Controller's increased stake in the company may signal confidence in Consolidated Edison's future performance.
Industry Context
Form 4 filings are a routine part of regulatory compliance for publicly traded companies, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The increased stake of a high-ranking officer could be viewed positively by shareholders.
Key Dates
| Date | Description |
|---|---|
| 05/31/2024 | Start date for TRASOP share increase calculation. |
| 06/30/2024 | Date of Employee Stock Purchase Plan acquisition (13.076 shares). |
| 07/31/2024 | Date of Employee Stock Purchase Plan acquisition (2.279 shares). |
| 08/31/2024 | End date for TRASOP share increase calculation and date of Employee Stock Purchase Plan acquisition (2.188 shares). |
| 09/16/2024 | Date of common stock acquisition (0.925 shares). |
| 09/18/2024 | Date of Form 4 filing. |
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