RANGER MICHAEL W 4

What Happened

Michael W. Ranger, a director of Consolidated Edison, received 430.73 Deferred Stock Units (DSUs) on March 31, 2026. The grant is reported as an award/acquisition (code A) at a per-unit valuation of $113.18, for a total value of $48,750. The DSUs were elected in lieu of a cash quarterly board retainer.

Key Details

• Transaction date: 2026-03-31; Filing date: 2026-04-01 (Form 4).
• Type: Award/Acquisition (A) — 430.73 DSUs @ $113.18 each = $48,750.
• Footnote F1: These are Deferred Stock Units acquired instead of cash for the quarterly board retainer; each DSU represents one share of common stock.
• Footnote F2: The filing also notes inclusion of 764.245 DSUs acquired on March 16, 2026 under the plan's dividend reinvestment provision.
• Shares owned after the transaction: not disclosed in the provided filing excerpt.
• No late filing flag indicated in the provided data (transaction 3/31/2026 filed 4/1/2026).

Context

DSUs are a form of non-cash director compensation that represent one share each and typically settle as shares or cash according to plan terms; such awards are routine compensation and do not directly signal a buy or sell decision by the insider. The reported activity is an internal compensation election rather than an open-market purchase or sale.