Miller Joseph 4

What Happened

• Joseph Miller, Vice President & Controller of Consolidated Edison, exercised derivative awards and received equity awards on Feb 18, 2026. He exercised 841 shares at a strike of $113.92 per share (cash paid = $95,807). The filing also reports acquisitions of 1,500 performance units and 600 time‑based restricted stock units (total 2,100 units) under the company’s LTIP.

Key Details

• Transaction date: 2026-02-18 (reported on Form 4 filed 2026-02-20).
• Option exercise: 841 shares acquired at $113.92 each; total strike cost reported as $95,807.
• Related derivative entry: the filing includes a corresponding derivative disposition line for 841 shares (reported as a derivative disposition with no open‑market price shown).
• Awards/grants: 1,500 performance units (adjusted based on performance criteria) and 600 time‑based restricted stock units (vesting schedule noted in footnotes).
• Small plan credits noted in footnotes: includes shares from the company Stock Purchase Plan and thrift plan adjustments.
• Shares owned after the transactions: not provided in the excerpt of the filing supplied.
• Timeliness: filing was submitted within two days of the transaction date (no late filing indicated).

Context

• The “M” transactions are exercises/conversions of derivatives (e.g., option/performance-unit conversions) — the Form 4 shows an exercise (cash paid) and a related derivative disposition line; the filing does not show an open‑market sale of the acquired shares.
• The 1,500 units reference performance units that vested (adjusted for performance achievement); the 600 units are time‑based restricted stock units scheduled to vest per the LTIP.
• These insider equity awards and exercises are routine forms of compensation and not, by themselves, a stated vote of confidence or concern about the stock — they document compensation realization and vesting events.