Form 4: FirstEnergy Corp Executive Toby L. Thomas Reports Stock Transactions

Chief Operating Officer Toby L. Thomas reports transactions involving FirstEnergy Corp stock, including vesting of restricted stock units, tax withholding, and deferred compensation.

Summary

• On March 1, 2025, Toby L. Thomas, Chief Operating Officer of FirstEnergy Corp, reported transactions involving the company's stock.
• These transactions include the vesting of 12,622 performance-adjusted restricted stock units (RSUs) which converted into common stock on a one-for-one basis.
• 1,567 shares were withheld to cover tax obligations related to the vesting of the 20PSUS21 award at a price of $38.355 per share.
• The reporting person's receipt of 10,728 shares was deferred, resulting in the receipt of 10,728 shares of phantom stock pursuant to the company's deferred compensation plan at a price of $38.355 per share.
• The reporting person also indirectly holds 255.37 shares through the company's 401(k) Savings Plan as of February 28, 2025.
• The phantom stock becomes payable upon the reporting person's death, disability, or termination of employment.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and stock transactions, suggesting a neutral to slightly positive sentiment due to the vesting of RSUs indicating achievement of performance goals.

Positives

• The vesting of RSUs indicates that performance goals were met, as certified by the Company's Board of Directors on February 5, 2025.

Future Outlook

The phantom stock becomes payable upon the reporting person's death, disability, or termination of employment with the Company.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common practice among publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units (RSUs) that vest over time based on performance and continued employment, similar to FirstEnergy's plan.
• Deferred compensation plans are also common, allowing executives to defer income and potentially reduce their current tax burden.
• Companies like Duke Energy, Southern Company, and Exelon also utilize similar compensation structures for their executives.

Stakeholder Impact

• Shareholders may view the vesting of RSUs as a positive sign, indicating that the executive is incentivized to perform well and align with shareholder interests.
• The transactions have a minimal direct impact on employees, customers, suppliers, and creditors.

Key Dates