Smith Shane Patrick 4

What Happened Shane Patrick Smith, CFO of Constellation Energy Corp. (CEG), converted/exercised company equity awards and received shares on Feb 9, 2026. The filing shows multiple items: conversion/exercise of derivative awards and grants of RSUs and performance shares. To cover tax and exercise obligations, 2,048 shares were withheld for taxes at $272.15/share ($557,363) and 1,377 shares were surrendered/disposed to the issuer at $272.15/share ($374,751). The filing also reports awards/vesting of RSUs and performance shares (see Key Details). These transactions are routine equity vesting/exercise activity rather than an open-market purchase.

Key Details

• Transaction date: 2026-02-09; Form 4 filed: 2026-02-11 (appears timely).
• Tax withholding: 2,048 shares withheld at $272.15 = $557,363 (code F).
• Disposition to issuer: 1,377 shares at $272.15 = $374,751 (code D).
• Awards / conversions / exercises reported:
  • Exercise/conversion (M): 5,243 shares (acquired; price N/A on form).
  • Grant/award (A): 3,032 RSUs acquired (vested RSUs under LTIP; price $0).
  • Grant/award (A): 4,535 performance shares acquired (vested; price $0).
  • Exercise/conversion (M): 707 shares and 4,535 shares shown as disposed at $0 in the filing (derivative-related entries).
• Total shares withheld/surrendered to satisfy tax/exercise obligations: 3,425 shares, total value $932,114.
• Shares owned after the transactions: not disclosed in the provided filing details.
• Footnotes of note:
  • F1: Shares came from vested LTIP awards.
  • F2: RSUs vest in 1/3 increments over three years and accrue dividend equivalents as additional RSUs.
  • F3: Performance shares vested immediately on grant for the referenced performance period.

Context

• Code meanings: M = exercise/conversion of derivative, A = grant/award, F = tax withholding, D = disposition to issuer. Several zero-dollar entries reflect vesting/conversion of RSUs or performance shares (no cash paid), and withheld/surrendered shares are typical to cover tax or exercise costs.
• These transactions mostly reflect vesting and exercise of company awards rather than an open-market buy or deliberate sale of stock for investment reasons. Withheld/surrendered shares to satisfy tax/exercise obligations are routine and do not necessarily indicate the insider’s view of the company’s prospects.