Form 4: Duke Energy EVP & CFO Brian Savoy Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
Brian Savoy, EVP & CFO of Duke Energy, reported the disposal of common stock to cover tax obligations related to vesting restricted stock units.
Summary
- On February 22 and 23, 2025, Brian D. Savoy, EVP & CFO of Duke Energy, reported the disposal of Duke Energy common stock.
- These disposals were made to cover tax obligations arising from the vesting of restricted stock units (RSUs) granted under the company's long-term incentive plans.
- Specifically, 949 shares were disposed of at a price of $115.55 on February 22, 2025, related to RSUs granted in 2023.
- An additional 1,157 shares were disposed of at the same price on the same date, related to RSUs granted in 2024.
- Furthermore, 779 shares were disposed of at $115.55 on February 23, 2025, related to RSUs granted in 2022.
- Following these transactions, Savoy directly owns 49,165 shares of Duke Energy common stock.
Sentiment
Score: 5
Explanation: This is a routine transaction related to executive compensation and tax obligations, and does not indicate a positive or negative outlook for the company.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies, often related to compensation packages and tax planning. The disposal of shares to cover tax obligations upon vesting of RSUs is a standard practice.
Comparison to Industry Standards
- Executive compensation packages in the utility sector, like Duke Energy, typically include a mix of salary, bonus, and equity-based compensation such as RSUs.
- The vesting schedules and tax implications of RSUs are generally similar across companies, leading to comparable patterns of stock disposal for tax purposes.
- Comparing Savoy's transactions to those of executives at similar companies like NextEra Energy (NEE) or Southern Company (SO) would provide further context, but specific details would require access to their individual Form 4 filings.
- The amount of shares disposed of is proportional to the amount of RSUs vesting and the applicable tax rates, which can vary based on individual circumstances and tax laws.
Key Dates
| Date | Description |
|---|---|
| 02/22/2023 | Date of RSU award granted under the Duke Energy Corporation 2015 Long-Term Incentive Plan related to the disposal of 949 shares. |
| 02/22/2024 | Date of RSU award granted under the Duke Energy Corporation 2023 Long-Term Incentive Plan related to the disposal of 1,157 shares. |
| 02/22/2025 | Transaction date for the disposal of 949 and 1,157 shares of common stock. |
| 02/23/2022 | Date of RSU award granted under the Duke Energy Corporation 2015 Long-Term Incentive Plan related to the disposal of 779 shares. |
| 02/23/2025 | Transaction date for the disposal of 779 shares of common stock. |
| 02/25/2025 | Date of signature for the Form 4 filing. |
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