Form 4: FirstEnergy Executive Lisowski Reports Stock Transactions Following RSU Vesting
SEC Form 4
VP, Controller & CAO of FirstEnergy, Jason Lisowski, reports changes in beneficial ownership of company stock due to the vesting of performance-adjusted restricted stock units (RSUs) and subsequent transactions.
Summary
- On March 1, 2025, Jason Lisowski, VP, Controller & CAO of FirstEnergy Corp, reported transactions related to the vesting of performance-adjusted restricted stock units (RSUs).
- 6,320.953 RSUs vested, converting into shares of FirstEnergy's common stock on a one-for-one basis.
- 1,900 shares were withheld to cover tax obligations associated with the vesting of the RSUs at a price of $38.355 per share.
- 2,081.953 Cash-Based RSUs were settled based on the company's high and low stock price, net of applicable tax withholding obligations on March 1, 2025.
- Lisowski also reported indirect ownership of 910.214 shares through the company's 401(k) Savings Plan as of February 28, 2025.
- Following these transactions, Lisowski directly owns 12,183.097 shares of FirstEnergy common stock and indirectly owns 910.214 shares through the savings plan.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It reflects the standard practice of granting RSUs as part of executive compensation packages.
Comparison to Industry Standards
- Executive compensation packages often include RSUs to align executive interests with shareholder value, similar to practices at comparable utilities like Exelon, Duke Energy, and Southern Company.
- Tax withholding practices related to RSU vesting are standard across publicly traded companies, ensuring compliance with tax regulations.
- Employee stock purchase plans and 401(k) plans with company stock options are common benefits offered by large corporations, including those in the energy sector.
Stakeholder Impact
- The vesting of RSUs and subsequent transactions may have a minor impact on shareholders due to the increase in the number of outstanding shares.
- The executive benefits from the vesting of RSUs, aligning their interests with the company's performance.
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 the performance goals for the RSUs. |
| February 28, 2025 | Date for the estimate of the number of shares of the Company's common stock held in the unitized stock fund. |
| March 1, 2025 | Date of RSU vesting, stock withholding for taxes, and settlement of Cash-Based RSUs. |
| March 4, 2025 | Date of the Form 4 filing. |
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