Andrews Kirkland B 4

What Happened

• Kirkland B. Andrews, SVP & Chief Financial Officer of Consolidated Edison (ED), received equity awards on February 18, 2026 totaling 18,400 units: 12,900 performance units and 5,500 time‑based restricted stock units (RSUs). No purchase price is reported (awards, not open‑market trades). These are derivative awards that may convert to shares (or cash equivalents) only if/when they vest.

Key Details

• Transaction date: 2026-02-18; Form 4 filed 2026-02-20 (timely).
• Awards: 12,900 Performance Units (F1) and 5,500 time‑based RSUs (F2); price: N/A (award).
• Vesting: Performance Units scheduled to vest in 2029 subject to performance determination by the Management Development and Compensation Committee; RSUs scheduled to vest in full on December 31, 2028.
• Economic nature: Each Performance Unit = economic equivalent of one share; each RSU = contingent right to one share on vesting. No shares were immediately issued.
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Transaction code: A = Award/Grant. No 10b5‑1 plan, tax withholding, or cashless sale indicated in the footnotes provided.

Context

• These are compensation grants, not purchases or sales, so they reflect company compensation practices rather than an immediate insider market signal. Final number (or cash value) received will depend on future vesting and performance outcomes.