Form 4: Constellation Energy Director Acquires Phantom Shares

Constellation Energy Corp Director Charles L. Harrington acquired 103 phantom share equivalents as part of a deferred compensation plan.

Summary

• Director Charles L. Harrington acquired 103 phantom share equivalents of Constellation Energy Corp (CEG).
• These phantom shares were acquired on December 31, 2025, as part of a multi-fund, non-qualified deferred compensation plan.
• The phantom shares are valued at $353.27 each and will be settled in cash on a 1-for-1 basis upon the termination of Harrington's service.
• Following this acquisition, Harrington beneficially owns a total of 5,055 phantom share equivalents.
• The balance also includes approximately 5 share equivalents accrued on December 5, 2025, through dividend reinvestment.

Sentiment

Score: 6

Explanation: Slightly positive due to a director increasing their beneficial ownership, even if through a compensation plan, indicating continued alignment with shareholder interests.

Positives

• Acquisition of phantom shares by a director indicates continued alignment of interests with shareholders, as the value is tied to the company's stock performance.
• The increase in beneficial ownership, now totaling 5,055 phantom share equivalents, shows a growing stake in the company's future.

Related Party Transactions

• Acquisition of 103 phantom share equivalents by Director Charles L. Harrington as part of his deferred compensation plan, which is a transaction between the company and a related party (director).

Stakeholder Impact

• Shareholders: Director's increased beneficial ownership aligns interests with shareholders, potentially signaling confidence in the company's long-term performance.
• Employees: The deferred compensation plan structure provides insight into executive compensation practices.

Next Steps

• Phantom share equivalents will be settled in cash on a 1-for-1 basis upon termination of the reporting person's service.

Key Dates

Recommendation

This Form 4 details a routine acquisition of phantom shares by a director as part of a deferred compensation plan. While it shows continued alignment of interests, it does not provide new fundamental information to warrant a change in investment recommendation. The transaction is part of a pre-existing compensation structure and does not reflect a discretionary open-market purchase or sale that would typically signal a strong buy or sell sentiment.

Keywords

Constellation Energy, CEG, Form 4, Insider Transaction, Phantom Shares, Deferred Compensation, Director Compensation, Equity Compensation