Form 4: FirstEnergy COO Toby Thomas Reports Stock Transactions

FirstEnergy's Chief Operating Officer, Toby L. Thomas, reported various equity transactions including RSU vesting, tax withholdings, and deferrals into phantom stock on March 1, 2026.

Summary

• Toby L. Thomas, Chief Operating Officer of FirstEnergy Corp., reported multiple transactions involving the company's common stock and derivative securities on March 1, 2026.
• Acquired 11,681 time-based restricted stock units (RSUs) under the 2020 Incentive Compensation Plan, which will vest in full on March 1, 2029.
• 24,155.778 performance-adjusted restricted stock units (RSUs) vested, converting into shares of common stock on a one-for-one basis. These RSUs were certified by the Board of Directors on February 11, 2026.
• 1,540 shares of common stock were automatically withheld to cover tax obligations related to the RSU vesting, at a price of $50.97 per share.
• Cash-Based RSUs equivalent to 8,088.778 shares were settled based on the average high and low stock price on February 27, 2026, net of tax withholding, at a price of $50.97 per share.
• 13,657 shares of common stock were deferred into an equal number of phantom stock shares under the company's deferred compensation plan, at a price of $50.97 per share.
• Beneficial ownership of common stock following these transactions is 38,452.865 shares directly and an estimated 696.197 shares indirectly through the Company 401(k) Savings Plan.
• The acquired phantom stock, totaling 13,658 shares, becomes payable upon the reporting person's death, disability, or termination of employment.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive event, reflecting the successful vesting of performance-based awards and the grant of new long-term incentives, which are standard positive indicators of executive alignment and compensation.

Positives

• Grant of 11,681 new time-based restricted stock units, indicating continued long-term incentive for the COO.
• Vesting of 24,155.778 performance-adjusted restricted stock units, signifying the achievement of previously set performance goals.

Negatives

• 1,540 shares of common stock were withheld to cover tax obligations, reducing the immediate net share gain from vesting.
• 13,657 shares of common stock were deferred into phantom stock, delaying the direct ownership and liquidity of those shares until specific future events.

Future Outlook

The newly granted time-based restricted stock units will vest in full on March 1, 2029. Phantom stock acquired through deferral will become payable upon the reporting person's death, disability, or termination of employment with the Company.

Industry Context

StockSavvy.ai notes that these transactions are typical for executive compensation packages in the utility sector, involving a mix of performance-based and time-based equity awards designed to align executive incentives with long-term company performance and shareholder value.

Stakeholder Impact

• Shareholders: The vesting and grant of equity awards align executive incentives with shareholder interests.
• Employees: Reflects the company's executive compensation structure.

Next Steps

• Vesting of 11,681 time-based restricted stock units on March 1, 2029.
• Payout of 13,658 shares of phantom stock upon the reporting person's death, disability, or termination of employment.

Key Dates

Recommendation

This Form 4 details routine executive compensation transactions, including RSU vesting and deferrals, which do not provide new fundamental information to alter an investment decision. The transactions are expected and do not signal a change in the company's operational or financial outlook.

Keywords

FirstEnergy, FE, Toby Thomas, Form 4, insider transaction, executive compensation, restricted stock units, RSU, phantom stock, stock vesting, deferred compensation, corporate officer