O'Connell Michele 4
4 · CONSOLIDATED EDISON INC · Filed Feb 20, 2026
Research Summary
AI-generated summary of this filing
Consolidated Edison (ED) CEO Michele O'Connell Sells 1,812 Shares
What Happened Michele O'Connell, President & CEO of Orange & Rockland (a Consolidated Edison subsidiary), converted vested performance units and received cash for 1,812 share-equivalents on February 18, 2026. The disposition to the issuer was reported at $113.92 per share, totaling $206,423. At the same time she was granted new long-term incentive awards: 7,400 performance units (performance-based, scheduled to vest in 2029) and 3,100 time-based restricted stock units (scheduled to vest in full on 12/31/2028).
Key Details
- Transaction date: 2026-02-18; Form 4 filed 2026-02-20 (timely).
- Sale/cash settlement: 1,812 share-equivalents converted/disposed at $113.92 each = $206,423.
- New awards: 7,400 performance units (LTIP, vesting contingent on 2029 performance) and 3,100 time-based RSUs (vesting 12/31/2028).
- Footnotes: F1 notes the 1,812 represented Performance Units granted in 2023 that vested and were elected to be paid in cash; F3 and F4 describe the future-vesting LTIP awards; F2 notes a 0.094-share change in thrift plan holdings per a 1/31/26 statement.
- Shares owned after the transactions are not specified in the filing.
Context
- The primary activity was a cash settlement of vested performance units (a conversion of derivatives into cash), not an open-market sale of previously held common shares. This is common when recipients elect cash instead of stock upon LTIP vesting.
- The filing shows the award/grant activity (future-vesting PUs and RSUs), which are contingent on future service and/or performance and do not represent immediately tradable shares.
Insider Transaction Report
Form 4
O'Connell Michele
President & CEO, O&R
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-02-18+1,812→ 21,267.848 total - Disposition to Issuer
Common Stock
[F1]2026-02-18$113.92/sh−1,812$206,423→ 19,455.848 total - Exercise/Conversion
Performance Units
[F1]2026-02-18−1,812→ 0 total→ Common Stock (1,812 underlying) - Award
Performance Units
[F3]2026-02-18+7,400→ 7,400 total→ Common Stock (7,400 underlying) - Award
Time - Based Restricted Stock Units
[F4]2026-02-18+3,100→ 3,100 totalFrom: 2028-12-31Exp: 2028-12-31→ Common Stock (3,100 underlying)
Holdings
- 484.52(indirect: By THRIFT Plan)
Common Stock
[F2]
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]Between 12/31/25 and 1/31/26, the reporting person's shares of Company common stock under the Thrift Plan decreased by 0.094. The information in this report is based on a Thrift Plan statement dated as of 1/31/26.
- [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.
Signature
William J. Kelleher; Attorney-in-Fact|2026-02-20