Form 4: FirstEnergy Corp Executive Park Hyun Reports Stock Transactions
SEC Form 4 Filing
SVP & CLO of FirstEnergy Corp, Park Hyun, reports acquisition and disposal of company stock and restricted stock units (RSUs) on March 1, 2025.
Summary
- On March 1, 2025, Park Hyun, SVP & CLO of FirstEnergy Corp, reported transactions involving FirstEnergy Corp (FE) common stock and Restricted Stock Units (RSUs).
- The transactions included the vesting of 32,989.23 performance-adjusted RSUs, which converted into shares of common stock on a one-for-one basis.
- 9,938 shares were withheld to cover tax obligations related to the vesting of the RSUs at a price of $38.355 per share.
- Cash-Based RSUs were settled on March 1, 2025, based on the average of the company's high and low stock price, net of applicable tax withholding obligations, resulting in the disposal of 10,996.23 shares.
- Park Hyun also reported indirect ownership of 1,098.28 shares held by the Savings Plan and 5 shares held by the Park Family Trust.
- Following the reported transactions, Park Hyun directly owns 66,349 shares of FirstEnergy Corp common stock and indirectly owns 1,098.28 shares through the Savings Plan and 5 shares through the Park Family Trust.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't convey any particularly positive or negative sentiment about the company's performance or future prospects.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives of publicly traded companies. It provides transparency into the trading activities of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider trading activities.
- Companies like Exelon, Duke Energy, and Southern Company also have executives who regularly file Form 4s for similar transactions involving stock options, RSUs, and stock grants.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the number of shares outstanding, but the effect is likely negligible.
- Employees participating in the 401(k) Savings Plan may be indirectly affected by the changes in the unitized fund invested in FirstEnergy Corp shares.
Key Dates
| Date | Description |
|---|---|
| 02/05/2025 | The Company's Board of Directors certified the satisfaction of the performance goals for the RSUs. |
| 02/07/2025 | Form 4 filed reporting the satisfaction of performance goals for the RSUs. |
| 02/28/2025 | 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. |
| 03/01/2025 | Date of the reported transactions, including RSU vesting, stock withholding for taxes, and settlement of Cash-Based RSUs. |
| 03/04/2025 | Date of the Form 4 filing. |
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