Hensley Jennifer 4

What Happened

• Jennifer Hensley, Senior VP, Corporate Affairs at Consolidated Edison, had LTIP performance units vest and executed related derivative transactions on 2026-02-18. As part of the vesting settlement she disposed (sold back to the issuer) 2,087 shares at $113.92 each for proceeds of $237,751. Additionally, 264 shares were withheld to cover tax obligations (value $30,075).
• The filing also reports derivative activity showing 8,100 shares acquired via exercise/conversion and a new grant of 3,400 units (awarded), both recorded on 2026-02-18. These acquisitions are LTIP-related equity awards (not open-market purchases).

Key Details

• Transaction date: 2026-02-18; filing date: 2026-02-20 (timely).
• Disposition: 2,087 shares sold to issuer at $113.92 — proceeds $237,751.
• Tax withholding: 264 shares withheld @ $113.92 — value $30,075 (reported as payment of exercise price/tax liability).
• Derivative activity: 8,100 shares acquired via exercise/conversion of derivatives; 3,400 shares granted (LTIP awards scheduled to vest per footnotes).
• Additional note: 47.826 shares were acquired under the company’s Stock Purchase Plan since the last filing (per footnote).
• Footnotes clarify these are LTIP Performance Units and time-based restricted stock units (some vested from 2023; some grants vest in future years — 2028/2029). Performance Units are the economic equivalent of one share.
• Filing does not indicate a 10b5-1 plan; transaction appears compensation-related rather than an open-market buy/sell.

Context

• This appears to be a routine, compensation-driven settlement of LTIP awards: some performance units vested and the reporting person elected/received a portion in cash, resulting in shares surrendered to the issuer and shares withheld for taxes. Such transactions are common for executives receiving equity compensation and do not necessarily signal a personal view on the company’s stock.
• For retail investors, purchases (open-market buys) often carry more interpretive weight than routine award settlements; here the activity mainly reflects compensation vesting and tax withholding rather than a discretionary market purchase or sale.