Form 4: Southern Company EVP & CFO Daniel S. Tucker Reports Changes in Beneficial Ownership

Daniel S. Tucker, EVP & CFO of Southern Company, reports transactions involving Southern Company common stock, including acquisitions and disposals related to vesting of performance restricted stock units and performance share units.

Summary

• Daniel S. Tucker, the EVP & CFO of Southern Company, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On February 5, 2025, Tucker acquired 2,864 shares upon the vesting of performance restricted stock units granted on January 31, 2024.
• He also acquired 41,710 shares upon the vesting of performance share units under the company's Performance Share Program for the 2022-2024 award period.
• A total of 1,411 and 18,621 shares were withheld to satisfy tax obligations at a price of $83.87 per share.
• Following these transactions, Tucker directly owns 72,198 shares and indirectly owns 3,489.474 shares through a 401(k) plan.
• He also holds 5,526 performance restricted stock units, representing the right to receive an equivalent number of common shares in the future.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the document primarily reports routine transactions related to executive compensation. The vesting of performance-based awards is generally a positive sign, but the tax withholding is a neutral event.

Positives

• The vesting of performance-based stock units suggests that Tucker has met certain performance criteria set by the company.
• The increase in direct ownership of Southern Company stock aligns Tucker's interests with those of the shareholders.

Negatives

• The withholding of shares to cover tax obligations reduces the net increase in Tucker's holdings.

Future Outlook

The remaining performance restricted stock units will vest in two tranches, one in 2026 and the other in 2027.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into the alignment of management's interests with shareholders.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards to incentivize executives to achieve company goals.
• Vesting schedules and tax withholding practices are standard across publicly traded companies.
• Comparing Tucker's holdings and transactions to those of executives at peer utilities companies (e.g., Duke Energy, NextEra Energy) would provide a more comprehensive assessment.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect the compensation structure for a key executive.
• Employees may view the vesting of performance-based awards as a positive sign of the company's performance.

Key Dates