Donnley Deneen L 4
4 · CONSOLIDATED EDISON INC · Filed Feb 20, 2026
Research Summary
AI-generated summary of this filing
Consolidated Edison (ED) SVP Deneen Donnley Sells Shares
What Happened
Deneen L. Donnley, Senior Vice President & General Counsel of Consolidated Edison (ED), reported converting vested performance units and receiving cash for 6,405 shares, resulting in a disposition to the issuer of 6,405 shares at $113.92 per share for $729,658 on February 18, 2026. The filing also reports the grant of 10,600 performance units (vesting based on 2029 performance criteria) and 4,500 time‑based restricted stock units (vesting December 31, 2028), plus ~67.803 shares acquired under the company stock purchase plan since the last filing.
Key Details
- Transaction date: February 18, 2026; Form 4 filed February 20, 2026 (timely filing).
- Sale/disposition: 6,405 shares to issuer at $113.92 — total reported proceeds $729,658.
- Derivative activity: 6,405 performance units vested and were cash‑settled (report shows conversion/exercise of derivative).
- Grants: 10,600 performance units (scheduled to vest 2029, F3) and 4,500 time‑based RSUs (vest 12/31/2028, F4) — these are future contingent awards, not immediate share purchases.
- Other: 67.803 shares acquired under the company Stock Purchase Plan since last filing (F2).
- Shares owned after transaction: not specified in the provided excerpt.
- Footnote (F1): The 6,405 units were 2023 LTIP Performance Units adjusted for performance and elected to be received in cash.
Context
The core action was a cash settlement of vested performance units rather than an open‑market sale; the units were converted/settled and paid out by the company. The newly reported grants are future awards subject to performance or time vesting and do not represent immediate purchases. These kinds of cash‑settled conversions and LTIP grants are common executive compensation events and should be viewed as administrative rather than an explicit directional bet on the stock.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-02-18+6,405→ 40,759.407 total - Disposition to Issuer
Common Stock
[F1]2026-02-18$113.92/sh−6,405$729,658→ 34,354.407 total - Exercise/Conversion
Performance Units
[F1]2026-02-18−6,405→ 0 total→ Common Stock (0 underlying) - Award
Performance Units
[F3]2026-02-18+10,600→ 10,600 total→ Common Stock (10,600 underlying) - Award
Time - Based Restricted Stock Units
[F4]2026-02-18+4,500→ 4,500 totalFrom: 2028-12-31Exp: 2028-12-31→ Common Stock (4,500 underlying)
Footnotes (4)
- [F1]Represents Performance Units granted in 2023 under the Company's Long Term Incentive Plan (the "LTIP") that vested for which the reporting person elected to receive the value in cash. The number of shares has been adjusted from the original reporting based upon the achievement of the performance criteria. Each Performance Unit is the economic equivalent of one share of Company common stock.
- [F2]Includes 67.803 shares acquired under the Company's Stock Purchase Plan since the reporting person's last filing.
- [F3]Represents a grant of Performance Units granted under the LTIP scheduled to vest in 2029 upon the determination of the performance criteria by the Management Development and Compensation Committee of the Board of Directors of the Company. Each Performance Unit is the economic equivalent of one share of Company common stock. The number of shares (or cash equivalents) ultimately received will be adjusted and determined based upon the achievement of the performance criteria.
- [F4]Represents a grant of time-based restricted stock units under the LTIP scheduled to vest in full on December 31, 2028. Each time-based restricted stock unit is a contingent right to receive one share of Company common stock.