Form 4: Eversource COO Sells Shares for Tax Obligations

Eversource Energy's EVP and COO, Paul Chodak III, disposed of 2,759 common shares at $73.61 each to cover tax withholding obligations.

Summary

• Paul Chodak III, Executive Vice President and Chief Operating Officer of Eversource Energy (ES), reported a disposition of common shares.
• On November 13, 2025, Mr. Chodak disposed of 2,759 common shares at a price of $73.61 per share.
• This transaction was a disposition to satisfy tax withholding obligations, indicated by transaction code "F".
• Following the transaction, Mr. Chodak directly beneficially owns 33,924 common shares, which includes restricted share units and dividend equivalents.
• Additionally, 433 common shares are indirectly held in trust under the Eversource 401k Plan.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary sale of shares for tax withholding purposes, which is neutral in terms of company sentiment.

Positives

• The transaction is a routine disposition for tax withholding, not a discretionary sale indicating a lack of confidence in the company's future.

Negatives

• No specific negatives are identified as this is a routine tax-related transaction.

Risks

• No specific risks are mentioned in this Form 4 filing.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This routine insider transaction for tax purposes does not provide specific insights into broader industry trends or competitive dynamics within the utility sector. Such transactions are common for executives receiving equity compensation.

Comparison to Industry Standards

• Dispositions of shares to cover tax withholding obligations are a standard practice for executives receiving equity-based compensation across all industries, including the utility sector.
• The reported transaction is consistent with typical executive compensation structures where restricted stock units vest, and a portion is sold to cover statutory tax liabilities.

Stakeholder Impact

• Shareholders: Minimal impact, as this is a routine, non-discretionary transaction for tax purposes and does not reflect a change in management's confidence in the company.
• Employees: No direct impact on general employees.

Next Steps

• The filing does not mention any specific future actions, events, or milestones.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary sale of shares by an executive to cover tax withholding obligations upon the vesting of equity awards. Such transactions are common and do not typically signal a change in the company's fundamentals or management's outlook. Therefore, it provides no new information that would warrant a change in investment recommendation; a 'hold' stance is appropriate based solely on this filing.

Keywords

Eversource Energy, ES, Form 4, Insider Trading, Executive Stock Sale, Tax Withholding, Paul Chodak III, Common Shares, Utility Sector