Form 4: Edison International Director Carey A. Smith Reports Acquisition of Phantom Stock

Director Carey A. Smith reports acquisition of phantom stock units following re-election at Edison International's annual meeting.

Summary

• Carey A. Smith, a director of Edison International, filed a Form 4 on April 29, 2024, reporting changes in beneficial ownership.
• On April 25, 2024, Smith acquired 2,496 phantom stock units as part of re-election as a director.
• Each phantom stock unit is equivalent in value to one share of Edison International Common Stock.
• These units will be settled upon Smith's retirement, resignation, death, or disability, unless an alternative date is chosen.
• Smith directly owns 11,345.9609 phantom stock units, including additional units acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard director compensation practices and alignment of interests with shareholders.

Positives

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.
• Dividend reinvestment in phantom stock units demonstrates a long-term commitment to the company.

Future Outlook

The phantom stock units will be settled upon the Reporting Person's retirement, resignation, death or disability, unless another date(s) is elected by the Reporting Person.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Director compensation packages often include stock or stock-based awards like phantom stock to align executive incentives with shareholder value.
• Companies like NextEra Energy (NEE) and Duke Energy (DUK) also utilize stock-based compensation for their directors.
• The amount of phantom stock granted is typical for director compensation at companies of Edison International's size and industry.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders, potentially leading to better decision-making for the company's long-term success.

Key Dates