Form 4: Duke Energy Executive Kodwo Ghartey-Tagoe Reports Stock Disposals for Tax Obligations

EVP, CLO & Corp Sec Kodwo Ghartey-Tagoe reports disposals of Duke Energy common stock to cover tax obligations related to vesting restricted stock units.

Summary

• Kodwo Ghartey-Tagoe, EVP, CLO & Corp Sec of Duke Energy, filed a Form 4 detailing changes in beneficial ownership.
• On February 22, 2025, Mr. Ghartey-Tagoe disposed of 1,020 shares of common stock at $115.55 to cover taxes on vesting of 2,334 restricted stock units (RSUs) granted on February 22, 2023.
• An additional 1,256 shares were disposed of on February 22, 2025, at $115.55 to cover taxes on vesting of 2,872 RSUs granted on February 22, 2024.
• On February 23, 2025, 878 shares were disposed of at $115.55 to cover taxes on vesting of 2,007 RSUs granted on February 23, 2022.
• Following these transactions, Mr. Ghartey-Tagoe directly owns 47,359 shares of Duke Energy common stock and indirectly owns 5,267 shares through a 401(k).
• The RSUs convert into common stock on a one-for-one basis.

Sentiment

Score: 5

Explanation: The Form 4 filing is a routine disclosure of stock transactions related to tax obligations, and doesn't indicate positive or negative sentiment.

Industry Context

Executives routinely sell shares to cover tax obligations when restricted stock units vest; this is a common practice and doesn't necessarily reflect a change in the executive's confidence in the company.

Comparison to Industry Standards

• Executive compensation packages in the utility industry often include restricted stock units (RSUs) as a component of long-term incentives.
• Similar to executives at companies like NextEra Energy (NEE) and Southern Company (SO), Duke Energy executives receive RSUs that vest over time.
• The practice of selling shares to cover tax obligations upon vesting is standard across these companies.

Key Dates