Etheredge James O 4

What Happened
James O. Etheredge, a director of Southern Company (SO), was granted 473.087 deferred stock units (DSUs) on 2026-07-01 as a quarterly director equity retainer. The DSUs are recorded at $95.12 per share, for a total grant value of $45,000. This transaction is an award/compensation (derivative), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-07-01; Filing date: 2026-07-02 (appears timely).
• Grant: 473.087 deferred stock units at $95.12 per unit; total value $45,000. (Transaction code A: award/grant)
• Shares owned after transaction: Not reported in this Form 4.
• Footnotes:
  • F1: Grant represents quarterly director equity retainer deferred under the Deferred Compensation Plan; each DSU equals the right to receive one share.
  • F2: DSUs settle in shares upon termination of board service as specified by the director; no exercise or expiration date.
  • F3: Amount includes additional DSUs from dividend reinvestment under the plan.
• Nature: Derivative award (deferred compensation), not an immediate stock purchase or sale.

Context
Deferred stock units are commonly used for director compensation and represent the right to receive shares in the future (typically upon leaving the board); they do not necessarily indicate a buy or sell signal by the insider. Because DSUs are settled later and include dividend reinvestment, the economic exposure differs from an immediate open-market purchase.