Form 4: Duke Energy Executive Glenn Robert Alexander Reports Stock Transaction
SEC Form 4 Filing
EVP & CEO of Duke Energy DEF & Midwest, Glenn Robert Alexander, reports disposition of shares to cover tax obligations upon vesting of restricted stock units.
Summary
- On May 5, 2024, Glenn Robert Alexander, EVP & CEO DEF & Midwest at Duke Energy, reported a transaction involving Duke Energy common stock.
- A total of 129 shares were disposed of at a price of $100.26 per share to cover tax obligations related to the vesting of 293 restricted stock units (RSUs) granted on May 5, 2021.
- Following the transaction, Alexander directly owns 24,989 shares of Duke Energy common stock.
- Alexander also indirectly owns 5,217 shares through a 401(k) plan.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track executive sentiment and potential alignment with company performance.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) that vest over time, aligning executive interests with long-term shareholder value.
- The practice of selling shares to cover tax obligations upon vesting is common among executives at publicly traded companies.
- Comparing Alexander's holdings and transactions to those of executives at peer companies like NextEra Energy (NEE) or Southern Company (SO) could provide additional context.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it is a routine sale of shares to cover tax obligations.
- The filing provides transparency to stakeholders regarding executive stock ownership and transactions.
Key Dates
| Date | Description |
|---|---|
| 05/05/2021 | Date of RSU award grant under the Duke Energy Corporation 2015 Long-Term Incentive Plan |
| 05/05/2024 | Date of stock transaction (disposal of shares for tax obligations) |
| 05/07/2024 | Date of signature on the Form 4 filing |
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