BOWERS WILLIAM P 4

What Happened

• William P. Bowers, a director of Exelon Corporation, received equity awards on 2026-03-31. The filing shows two acquisitions: 878 shares at $49.82 each (total $43,742) and 880 units recorded as derivative/phantom equivalents at $49.02 each (total $43,138). Combined value of the transactions is about $86,880.
• These were awards/grants (transaction code A) rather than open-market purchases or sales.

Key Details

• Transaction date: 2026-03-31. Prices: $49.82 (878 shares) and $49.02 (880 derivative units).
• Transaction type: Award/Grant (A). The 880-unit entry is a derivative (phantom share equivalents) in a non-qualified deferred compensation plan.
• Footnotes: F1 notes the reported balance includes 160 additional shares from automatic dividend reinvestment. F2 explains phantom share equivalents are held in the reporting person’s Exelon stock fund account under a deferred compensation plan and will be settled for cash 1-for-1 upon termination of board service. F3 notes 161 phantom equivalents were added via dividend reinvestment.
• Shares owned after the reported transactions are not separately quantified in the form; the filing’s footnotes indicate additional share and phantom-equivalent balances as noted above.
• Filing timeliness: Report filed 2026-04-01 for a 2026-03-31 transaction (filed promptly under Form 4 timing rules).

Context

• Phantom share equivalents are not actual stock; they track Exelon’s share value and are typically settled in cash (here, 1:1 on termination), so they don’t confer direct shareholder voting rights until and unless converted or settled.
• These entries reflect compensation/award activity from the company rather than a director buying or selling in the open market; such awards are common for board compensation and do not by themselves indicate an intent to buy or sell additional stock.