Drake Sloane N 4

What Happened
Drake Sloane, EVP & CHRO of Southern Co (SO), received the second tranche of performance restricted stock units (PRSUs) that vested on January 31, 2026. A total of 3,052 shares were converted/issued (two derivative conversion entries of 1,579 and 1,473 shares). To satisfy tax withholding obligations, 773 of those shares were withheld at $89.31 per share, generating a withholding value of $69,037. After withholding, Sloane effectively added about 2,279 shares to his holdings. The acquisitions were issuances from the company (vested awards), not open-market purchases.

Key Details

• Transaction date: 2026-01-31; Form filed 2026-02-03 (no late filing indicated in the report).
• Items reported:
  • 1,579 shares acquired via conversion of derivative (vested) at $0.00 (includes 106 accrued dividend equivalents per footnote).
  • 1,473 shares converted/disposed as a derivative entry at $0.00.
  • 773 shares withheld to cover federal/state tax liabilities at $89.31/share, totaling $69,037 (tax withholding entry).
• Net shares retained after withholding: ~2,279 (3,052 vested − 773 withheld).
• Footnotes: These shares represent the second 1/3 of PRSUs granted Jan 31, 2024; remaining award tranche vests in 2027. Withholding is routine to satisfy tax obligations.

Context

• Code explanation: M = exercise/conversion of a derivative (here, RSUs converting into shares); F = payment of exercise price or tax liability (shares withheld for taxes).
• This was not an open-market sale — the 773-share "disposition" reflects tax withholding, not a decision to sell shares on the market.
• Vesting of RSUs is a standard form of compensation and does not, by itself, indicate insider sentiment about the stock.