4//SEC Filing
Crane Christopher M. 4
Accession 0001062993-22-003606
CIK 0001109357other
Filed
Feb 9, 7:00 PM ET
Accepted
Feb 10, 8:07 PM ET
Size
12.1 KB
Accession
0001062993-22-003606
Insider Transaction Report
Form 4
EXELON CORPEXC
Crane Christopher M.
Executive Vice President
Transactions
- Award
2022 Restricted Stock Units
2022-02-08+84,243→ 84,243 totalExercise: $0.00→ Common Stock (84,243 underlying) - Award
Earned Performance RSU
2022-02-08+215,793→ 215,793 totalExercise: $0.00→ Common Stock (215,793 underlying)
Holdings
- 75,965
2021 Restricted Stock Units
Exercise: $0.00→ Common Stock (75,965 underlying) - 36,190
2020 Restricted Stock Units
Exercise: $0.00→ Common Stock (36,190 underlying)
Footnotes (4)
- [F1]Restricted stock units (RSU) awarded under the Exelon Long Term Incentive Plan (LTIP). Award vests in 1/3 increments at the January or February meeting of the Exelon Compensation Committee with each RSU representing the right to receive one share of Exelon common stock upon vesting. RSUs accrue quarterly dividend equivalents in the form of additional RSUs representing common stock dividends as approved by the Board, which vest on the same schedule as the underlying RSU.
- [F2]In connection with the separation of Constellation Energy Corp (Constellation) from Exelon effective February 1, 2022 (the Spin-Off), the unvested balance of RSU awards outstanding immediately prior to the Spin-Off were adjusted to preserve their intrinsic value post-Spin Off. As a result, the balance of this RSU award accrued an additional 18,346 RSUs. Such adjustment is exempt from Section 16 of the Securities Exchange Act of 1934, as amended (Exchange Act) pursuant to Rule 16a-9 under the Exchange Act. The award will continue to vest on its original schedule and otherwise has substantially the same terms and conditions as the original award.
- [F3]Identical adjustment as described in Note 2. As a result, the balance of this RSU award accrued an additional 8,740 RSUs. Such adjustment is exempt from Section 16 of the Securities Exchange Act of 1934, as amended (Exchange Act) pursuant to Rule 16a-9 under the Exchange Act. The award will continue to vest on its original schedule and otherwise has substantially the same terms and conditions as the original award.
- [F4]RSUs awarded under the LTIP. Award cliff vests at the January 2023 meeting of the Exelon Compensation Committee with each RSU representing the right to receive one share of Exelon common stock upon vesting. RSUs accrue quarterly dividend equivalents in the form of additional RSUs representing common stock dividends as approved by the Board, which vest on the same schedule as the underlying RSU. In connection with Spin-Off, this award replaces the 2020 to 2022 performance share award. The Exelon Compensation Committee approved the conversion and replacement to the outstanding award target based on 2021 year-end performance, as adjusted for the Spin-Off.
Issuer
EXELON CORP
CIK 0001109357
Entity typeother
Related Parties
1- filerCIK 0001411453
Filing Metadata
- Form type
- 4
- Filed
- Feb 9, 7:00 PM ET
- Accepted
- Feb 10, 8:07 PM ET
- Size
- 12.1 KB