Form 4: FirstEnergy COO Sells Shares for Tax Obligations

FirstEnergy's Chief Operating Officer, Toby L. Thomas, reported the disposition of 886 common shares to cover tax liabilities from restricted stock vesting.

Summary

• Toby L. Thomas, Chief Operating Officer of FirstEnergy Corp. (FE), reported a transaction involving the company's common stock.
• On November 30, 2025, 886 shares of common stock were disposed of at a price of $47.39 per share.
• This disposition was due to shares being withheld to satisfy tax withholding obligations upon the vesting of 2,918 shares of restricted common stock.
• The restricted stock award was granted on November 30, 2023.
• Following this transaction, Toby L. Thomas directly beneficially owns 25,630.28 shares of common stock, which includes shares acquired through dividend reinvestments since the last filing.
• Additionally, 480.7697 shares are indirectly held through the company's 401(k) Savings Plan, which includes a unitized fund, dividend reinvestment, and company match features.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction related to equity compensation and tax withholding. It is neutral in sentiment as it reflects standard corporate practice rather than a discretionary sale or a significant positive/negative event for the company's operations or financial health.

Positives

• The vesting of restricted stock indicates that performance conditions (if any) were met, and the executive is receiving compensation.
• The executive continues to hold a significant number of shares, both directly and indirectly, aligning interests with shareholders.

Future Outlook

The filing does not contain any forward-looking statements or guidance.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, common across all publicly traded companies when executives receive equity compensation that vests and requires tax withholding. It does not provide specific insights into broader industry trends for the utility sector but reflects standard executive compensation practices.

Comparison to Industry Standards

• The practice of withholding shares to cover tax obligations upon the vesting of restricted stock is a standard and common mechanism for equity compensation in publicly traded companies across various industries, including utilities. This is not unique to FirstEnergy Corp. or its Chief Operating Officer.
• The continued beneficial ownership of a significant number of shares by the COO, both directly and through a 401(k) plan, aligns with typical corporate governance best practices that encourage executive ownership to align interests with shareholders.

Stakeholder Impact

• Shareholders: Minimal direct impact. The transaction is a routine part of executive compensation and tax management. The executive's continued significant ownership aligns interests.

Key Dates

Keywords

FirstEnergy, FE, Toby L. Thomas, Insider Trading, Form 4, Restricted Stock, Tax Withholding, Beneficial Ownership, Chief Operating Officer, Equity Compensation