Thomas Lizanne 4

What Happened
Thomas Lizanne, a director of Southern Company (SO), was granted 464.205 deferred stock units on 2026-04-01 at an attributable price of $96.94 per share, for an aggregate value of $45,000. The transaction is reported as an award/acquisition (derivative) — this is director compensation rather than an open-market purchase.

Key Details

• Transaction date: 2026-04-01; Filing date (Accession): 2026-04-02 (timely filing).
• Instrument and amount: 464.205 deferred stock units at $96.94 per unit; total value $45,000.
• Transaction code: A (award/grant/acquisition); classified as a derivative.
• Shares owned after transaction: not specified in the Form 4 filing.
• Footnotes:
  • F1: Units represent a quarterly director equity retainer under the 2021 Equity and Incentive Compensation Plan and are deferred under the Deferred Compensation Plan for Outside Directors.
  • F2: Deferred stock units settle in shares of common stock upon termination of Board service; no exercise or expiration date.
  • F3: Units include additional deferred units from dividend reinvestment.
• No indication of a sale or cashless exercise; this is routine compensation, not an immediate stock purchase.

Context
Deferred stock units (DSUs) are rights to receive shares in the future (typically after a director leaves the board) and are commonly used for director compensation. Such awards are routine and primarily reflect compensation structure rather than an immediate bullish or bearish trading signal.