Form 4: Duke Energy Executive Vests Performance Shares
Statement of Changes in Beneficial Ownership
Duke Energy's EVP-Chief General Officer, Thomas Preston Gillespie Jr., reported the vesting of performance shares and subsequent tax-related share disposition.
Summary
- Thomas Preston Gillespie Jr., EVP-Chf Gen Off-Entrp Op Excel at Duke Energy Corp (DUK), reported changes in beneficial ownership.
- On February 5, 2026, 16,263 shares of common stock vested, related to a performance share award granted on February 22, 2023.
- The performance-vesting requirements for this award were measured over a three-year period and deemed satisfied on February 5, 2026.
- Concurrently, 5,857 shares were disposed of at a price of $123.41 per share to cover tax obligations upon vesting.
- Following these transactions, Gillespie Jr. directly owns 56,828 shares of common stock.
- Additionally, 420 shares are indirectly owned through a 401(k) issuer stock fund.
Sentiment
Score: 6
Explanation: StockSavvy.ai views this as a moderately positive event for the executive, reflecting successful performance and compensation realization, and a neutral, routine compensation event for the company.
Positives
- Thomas Preston Gillespie Jr. received 16,263 vested performance shares, indicating successful achievement of performance targets over a three-year period.
- The vesting of shares at a $0 acquisition price (as it's a grant/vesting) represents a significant compensation event for the executive.
Negatives
- 5,857 shares were withheld to pay taxes due upon the vesting of the performance shares, reducing the net shares received by the executive.
Future Outlook
The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategy.
Industry Context
StockSavvy.ai notes that executive compensation through performance-based equity awards is a standard practice across the utility sector, aligning management incentives with long-term company performance. This specific filing reflects a routine vesting event for a senior executive at Duke Energy, consistent with typical compensation structures in large public utilities.
Stakeholder Impact
- Shareholders: The transaction represents a routine executive compensation event, which is a standard operational cost. It indicates that performance targets set for the executive were met, which could be viewed positively regarding management's execution.
- Employees: No direct impact on general employees is indicated by this filing.
- Customers, Suppliers, Creditors: No direct impact is indicated by this filing.
Key Dates
| Date | Description |
|---|---|
| 02/22/2023 | Performance share award granted. |
| 02/05/2026 | Performance-vesting requirements deemed satisfied; 16,263 performance shares vested and 5,857 shares disposed for tax withholding. |
| 02/09/2026 | Date Form 4 was signed by attorney-in-fact. |
Keywords
Duke Energy, DUK, Form 4, Insider Transaction, Executive Compensation, Stock Vesting, Performance Shares, Thomas Preston Gillespie Jr.
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