Form 4: Exelon Director Cheshire Acquires Additional Deferred Stock Units

Marjorie Rodgers Cheshire, an Exelon director, acquired additional deferred stock units and phantom share equivalents, as reported in a recent SEC Form 4 filing.

Summary

• On March 31, 2025, Marjorie Rodgers Cheshire, a director of Exelon Corp, acquired 933 shares of common stock in the form of deferred stock units at a price of $44.19 per share.
• These deferred stock units are held indirectly through the Exelon Corp. Directors Deferred Stock Unit Plan.
• Additionally, Cheshire acquired 448 deferred phantom share equivalents, with each equivalent representing one share of common stock.
• The price of the derivative security is $46.08.
• These 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 service to the board of directors.
• The filing also indicates that Cheshire indirectly owns 21,178 shares of common stock through the Exelon Corp. Directors Deferred Stock Unit Plan, including 182 additional shares acquired through automatic dividend reinvestment.
• Cheshire directly owns 7,881 derivative securities in the form of deferred phantom share equivalents, including 67 additional phantom share equivalents that were accrued to the account by the plan administrator on the ex-dividend date.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it simply reports transactions related to director compensation. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Positives

• The acquisition of deferred stock units and phantom share equivalents by a director may signal confidence in the company's future performance.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. These transactions can be influenced by factors such as executive compensation plans and personal financial planning.

Comparison to Industry Standards

• Director stock ownership is a common practice among publicly traded companies, such as Exelon, and is often seen as a way to align the interests of management with those of shareholders.
• Companies like NextEra Energy and Duke Energy also have similar deferred compensation plans for their directors.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with those of the shareholders.

Key Dates

Keywords

Exelon, Director, Deferred Stock Units, Phantom Share Equivalents, SEC Form 4, Beneficial Ownership, Insider Trading