Sanchez Robert 4

What Happened

• Robert Sanchez, President, Shared Services at Consolidated Edison, reported exercising/vesting and selling 5,370 share-equivalents on Feb 18, 2026. The disposition to the issuer was at $113.92 per share, totaling $611,750.
• The filing also shows new equity awards the same day: 8,900 performance units (future-vesting) and 3,800 time-based restricted stock units (vesting in 2028). Small additional changes include ~97.65 shares acquired under the company stock purchase plan and a 0.098-share decrease in thrift plan holdings per a statement dated 1/31/26.

Key Details

• Transaction date: 2026-02-18. Sale price: $113.92; total cash received: $611,750 for 5,370 shares.
• Shares owned after the reported transactions: not specified in the excerpt provided.
• Notable footnotes:
  • F1: The sold units were performance units granted in 2023 that vested; the reporting person elected to receive value in cash. Performance Units are economically equivalent to one share each.
  • F4: 8,900 performance units granted under LTIP, scheduled to vest in 2029 subject to performance criteria.
  • F5: 3,800 time‑based restricted stock units under LTIP, scheduled to vest in full on Dec 31, 2028.
  • F2/F3: Small adjustments from the company Stock Purchase Plan and Thrift Plan are reflected.
• Filing timing: Reported on 2026-02-20 for transactions on 2026-02-18 (filed within the typical two-business-day window).

Context

• This was primarily a cash settlement of vested performance-unit awards rather than an open‑market sale of previously owned shares; the filer elected to receive the vested value in cash per the footnote.
• The new grants reported are long-term awards scheduled to vest in future years and do not represent immediate share purchases.
• These kinds of exercises/settlements and concurrent new grants are common in executive compensation reporting and do not by themselves indicate a change in company outlook.