Form 4: Southern Company Executive James Y. Kerr, II Reports Stock Transactions
SEC Form 4 Filing
James Y. Kerr, II, Chairman, President & CEO, GAS of Southern Company, reports acquisition and disposal of company stock related to vesting of performance restricted stock units.
Summary
- On February 1, 2025, James Y. Kerr, II, an executive officer of Southern Company, reported transactions involving Southern Company common stock.
- He acquired 3,332 shares upon the vesting of performance restricted stock units at a price of $0.
- 1,553 shares were withheld to cover state and federal tax obligations at a price of $83.95.
- Following these transactions, Kerr directly owns 146,867 shares and indirectly owns 32,802.4212 shares through a 401(k).
- He also holds 3,086 performance restricted stock units, representing the second 1/3 of units granted on February 1, 2023, which will vest in 2026.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The transactions are part of a standard compensation plan and indicate the executive is meeting performance goals. There are no red flags or negative indicators.
Positives
- The vesting of performance restricted stock units suggests the executive is meeting performance goals.
Future Outlook
The remaining performance restricted stock units will vest in 2026, subject to continued performance.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, which are closely monitored by investors.
Comparison to Industry Standards
- Executive compensation packages often include performance-based equity awards like restricted stock units to align management's interests with those of shareholders.
- The vesting schedule of these units is typical, with vesting occurring over several years to incentivize long-term performance.
- Tax withholding practices are standard procedure for equity compensation.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- They provide transparency into executive compensation and alignment with shareholder interests.
Key Dates
| Date | Description |
|---|---|
| 02/01/2023 | Date of grant for performance restricted stock units, vesting in thirds over three years. |
| 12/09/2024 | Effective date of Power of Attorney. |
| 02/01/2025 | Date of stock transactions (acquisition and disposal) and vesting of performance restricted stock units. |
| 02/04/2025 | Date of Form 4 filing. |
| 2026 | Remaining performance restricted stock units will vest. |
Keywords
Southern Company, James Y. Kerr II, Form 4, Stock Transactions, Performance Restricted Stock Units, Vesting, Tax Withholding, Beneficial Ownership
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