Form 4: FirstEnergy Corp. Board Chair Brian Tierney Reports Stock Transactions
SEC Form 4
Brian Tierney, Board Chair, President, and CEO of FirstEnergy Corp., reports the vesting and conversion of restricted stock units (RSUs) and associated tax withholding.
Summary
- On March 1, 2025, Brian Tierney, Board Chair, President, and CEO of FirstEnergy Corp., reported transactions involving FirstEnergy Corp. common stock.
- 133,587 performance-adjusted restricted stock units (RSUs) vested and converted into shares of common stock.
- 60,582 shares were withheld to cover tax obligations related to the RSU vesting at a price of $38.355 per share.
- Tierney's direct holdings of common stock after these transactions totaled 277,807.602 shares.
- He also indirectly holds 590.27 shares through the company's 401(k) Savings Plan as of February 28, 2025.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard executive compensation practices; neither particularly positive nor negative.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) that vest over time based on performance and continued service.
- Tax withholding upon vesting of RSUs is a standard practice.
- Executive stock ownership is generally viewed positively as it aligns management's interests with those of shareholders.
- Comparing Tierney's holdings and transactions to those of executives at peer utilities companies (e.g., Duke Energy, Southern Company) would provide further context.
Stakeholder Impact
- The vesting of RSUs and subsequent tax withholding has a minor impact on shareholders through potential dilution.
- The transactions affect the executive's personal holdings and alignment with shareholder interests.
Key Dates
| Date | Description |
|---|---|
| February 5, 2025 | Company's Board of Directors certified the satisfaction of the performance goals for the RSUs. |
| February 7, 2025 | Form 4 filed reporting the satisfaction of performance goals for the RSUs. |
| February 28, 2025 | Date used to estimate the number of shares of the Company's common stock held in the unitized stock fund and allocated to the reporting person's account. |
| March 1, 2025 | Date of RSU vesting and conversion to common stock, and associated tax withholding. |
| March 4, 2025 | Date of signature for the Form 4 filing. |
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