BOWERS WILLIAM P 4

What Happened William P. Bowers, a director of Exelon Corporation (EXC), received a grant of 3,720 restricted stock units (RSUs) reported as a derivative acquisition on 2026-04-28. The Form 4 shows an acquisition price of $0.00 (code A — award/grant); these RSUs are awards that will convert into common shares if and when they vest, so no cash changed hands at grant.

Key Details

• Transaction date: 2026-04-28; Form 4 filed 2026-04-29 (appears timely).
• Grant: 3,720 RSUs; reported price $0.00; transaction code A (award/grant, derivative).
• Shares/units owned after transaction: not specified in this Form 4 filing.
• Footnote F1: These are annual RSU awards under Exelon's LTIP that will settle 1-for-1 into Exelon common stock when they vest; the award accrues additional stock units through dividend reinvestment that vest with the award.
• Footnote F2: References phantom share equivalents in a non-qualified deferred compensation stock fund that settle for cash 1-for-1 upon termination of board service (separate from the RSU grant).

Context RSU grants to directors are a routine form of compensation and do not represent an open-market purchase or sale. Because these units convert to shares only on vesting (and may include dividend reinvestment), they should be viewed as compensation-related awards rather than a direct insider buy signal.