Cooper Shantella E. 4

What Happened
Shantella E. Cooper, a member of Southern Company’s Board of Directors, received 473.087 deferred stock units on 2026-07-01 as a quarterly director equity retainer. The award is reported at a per-unit value of $95.12 for a total reported value of $45,000. The transaction is coded as an award/acquisition (A) and involves deferred stock units (a derivative right to receive shares), not an open-market purchase.

Key Details

• Transaction date: 2026-07-01; Form 4 filed: 2026-07-02 (timely filing).
• Security: Deferred stock units (derivative), 473.087 units @ $95.12 each = $45,000.
• Shares owned after transaction: Not disclosed in the filing.
• Footnotes:
  • F1: Units represent the quarterly director equity retainer under the 2021 Equity and Incentive Compensation Plan, deferred under the Deferred Compensation Plan for Outside Directors.
  • F2: Deferred stock units convert to shares on dates after board service ends as elected by the director; there is no exercise/expiration date.
  • F3: Amount includes additional units from dividend reinvestment under the Deferred Compensation Plan.
• Transaction code: A = award/acquisition; instrument = derivative (deferred stock units).

Context
This is routine director compensation deferred into stock units, not a market buy or sale — it does not directly signal a personal investment decision to buy or sell shares. Deferred stock units typically convert to actual shares (and are delivered) only after the director’s service ends per the plan terms.