Form 4: Exelon Director Acquires Deferred Stock Units

Exelon Director Marjorie Rodgers Cheshire acquired 950 deferred stock units and 458 deferred phantom share equivalents on September 30, 2025.

Summary

• Marjorie Rodgers Cheshire, a Director of Exelon Corp. (EXC), acquired additional securities.
• On September 30, 2025, 950 common stock-deferred stock units were acquired at a price of $43.43 per unit.
• Following this transaction, beneficial ownership of common stock-deferred stock units stands at 23,483, held indirectly through the Exelon Corp. Directors Deferred Stock Unit Plan.
• This balance includes 206 additional shares acquired through automatic dividend reinvestment.
• Also on September 30, 2025, 458 deferred phantom share equivalents were acquired at a price of $45.01 per equivalent.
• These phantom share equivalents are held in the reporting person's Exelon stock fund account, part of a multi-fund, non-qualified deferred compensation plan.
• Phantom share equivalents will be settled for cash on a 1-for-1 basis upon termination of service to the board of directors.
• Following this transaction, 8,958 deferred phantom share equivalents are beneficially owned directly.
• This balance includes 74 additional phantom share equivalents accrued by the plan administrator on the ex-dividend date.

Sentiment

Score: 7

Explanation: The acquisition of additional deferred stock units and phantom share equivalents by a director, while routine and compensation-related, generally indicates continued alignment with the company's performance and a stable commitment to the role.

Positives

• A director's acquisition of additional company securities, even if compensation-related, can signal continued alignment with shareholder interests and confidence in the company's long-term prospects.

Future Outlook

NA

Industry Context

This filing reports a routine insider transaction related to director compensation, which is specific to Exelon Corp. and does not directly reflect broader industry trends or competitive dynamics.

Stakeholder Impact

• Shareholders: The director's increased indirect ownership through deferred compensation plans may be viewed as a positive signal of continued commitment and alignment of interests.

Key Dates

Recommendation

The filing details a routine acquisition of deferred stock units and phantom share equivalents by a director as part of their compensation plan. While insider buying can be a positive indicator, these types of transactions are typically pre-scheduled and do not usually reflect a strong, immediate investment signal for a 'buy' or 'sell' recommendation. The information provided does not suggest a significant change in the company's fundamental outlook or valuation.

Keywords

Exelon, EXC, Form 4, Insider Transaction, Director, Deferred Stock Units, Phantom Shares, Beneficial Ownership, Compensation Plan