Form 4: Exelon Corp: CEO of BGE, Carim V Khouzami, No Longer Subject to Section 16 Reporting

Carim V Khouzami, CEO of BGE, is no longer subject to Section 16 reporting requirements as of April 1, 2024, according to a recent SEC filing.

Summary

• This SEC Form 4 filing indicates that Carim V Khouzami, CEO of BGE and an officer of Exelon Corp, is no longer subject to the reporting provisions of Section 16 of the Securities Exchange Act of 1934, effective April 1, 2024.
• The filing details Khouzami's beneficial ownership of Exelon common stock, including 16,405 shares held directly and 8,834 shares held in a 401k.
• It also reports holdings of derivative securities, including 7,801 2024 Restricted Stock Units, 4,549 2023 Restricted Stock Units, 2,276 2022 Restricted Stock Units, and 766 Deferred phantom share equivalents.
• These restricted stock units (RSUs) vest in 1/3 increments at the January or February meeting of the Exelon Compensation Committee, with each RSU representing the right to receive one share of Exelon common stock upon vesting.
• The deferred phantom share equivalents are held in the reporting person's Exelon stock fund account that is part of a multi-fund, non-qualified deferred compensation plan and will be settled for cash upon termination of employment.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a procedural filing indicating a change in reporting requirements for an executive.

Management Comments

• The Board of Directors of Exelon has determined that, as of April 1, 2024, Mr. Khouzami is no longer subject to the reporting provisions of Section 16 of the Securities Exchange Act of 1934.
• Mr. Khouzami is and will remain an officer of Exelon and continue to perform his duties as the CEO of BGE.

Industry Context

This filing is a routine disclosure related to insider reporting requirements and doesn't necessarily reflect broader industry trends.

Stakeholder Impact

• Shareholders may find this information relevant for understanding executive compensation and reporting practices.
• Employees may be interested in the details of the deferred compensation plan.

Key Dates