Ketschke Matthew 4

4 · CONSOLIDATED EDISON INC · Filed Feb 20, 2026

AI-generated summary of this filing

Updated Feb 20, 2026

Consolidated Edison President Matthew Ketschke Sells Shares, Receives Awards

What Happened

Matthew Ketschke, President of CECONY (a Consolidated Edison subsidiary), had 8,217 performance-unit equivalents converted and settled for cash on Feb 18, 2026, resulting in a disposition to the issuer of 8,217 units at $113.92 per unit for $936,081. At the same time he received new long‑term incentive awards totaling 26,800 units (18,800 performance units and 8,000 time‑based restricted stock units).

Key Details

Transaction date: 2026-02-18; cash disposition: 8,217 units @ $113.92 = $936,081.
New awards: 18,800 performance units (scheduled to vest based on performance, F2) and 8,000 time‑based RSUs (vesting in full on Dec 31, 2028, F3). No purchase price for awards; they are grants under the LTIP.
The filing was submitted Feb 20, 2026 (timely under Section 16 reporting rules).
Shares owned after the transaction: not disclosed in the filing.
Footnotes:
- F1: The settled units were 2023 Performance Units that vested; the reporting person elected cash rather than stock (each unit = economic equivalent of one share).
- F2: 2026 grant of Performance Units that will vest (if at all) in 2029 based on performance adjustments.
- F3: 8,000 time‑based RSUs scheduled to vest Dec 31, 2028.

Context

This was effectively a cash settlement of vested performance units (conversion/exercise and disposition to issuer), not an open‑market sale — a routine liquidity outcome after vesting.
The new grants are contingent future awards: performance units will be adjusted and paid based on future performance criteria; the RSUs are time‑based and vest later. These awards do not represent an immediate purchase of stock.

Form 4

Period: 2026-02-18

President, CECONY

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-02-18+8,217→ 50,641.919 total
Disposition to Issuer
Common Stock
[F1]
2026-02-18$113.92/sh−8,217$936,081→ 42,424.919 total
Exercise/Conversion
Performance Units
[F1]
2026-02-18−8,217→ 0 total
→ Common Stock (8,217 underlying)
Award
Performance Units
[F2]
2026-02-18+18,800→ 18,800 total
→ Common Stock (18,800 underlying)
Award
Time - Based Restricted Stock Units
[F3]
2026-02-18+8,000→ 8,000 total
From: 2028-12-31Exp: 2028-12-31→ Common Stock (8,000 underlying)

Holdings

Footnotes (3)

[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]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.
[F3]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.

Signature

William J. Kelleher; Attorney-in-Fact|2026-02-20

1 file