Cheshire Marjorie Rodgers 4

What Happened

• Marjorie Rodgers Cheshire, a director of Exelon Corporation (EXC), received two awards on 2026-03-31: 878 shares credited at $49.82 each (total $43,742) and 421 derivative phantom share equivalents credited at $49.02 each (total $20,637). Both transactions are coded as "A" (award/grant) on the Form 4 and appear to be director compensation rather than open-market trading.

Key Details

• Transaction date: 2026-03-31; Filing date: 2026-04-01 (timely).
• Awards: 878 shares @ $49.82 = $43,742; 421 phantom equivalents @ $49.02 = $20,637; combined reported value $64,379.
• Derivative note: The 421-unit entry is a phantom share equivalent (derivative) held in a non‑qualified deferred compensation plan; these phantom equivalents are settled in cash 1-for-1 upon termination of board service (see footnote F2).
• Dividend reinvestment: Footnote F1 notes a balance includes 208 additional shares from automatic dividend reinvestment; F3 notes 80 additional phantom equivalents from dividend reinvestment.
• Shares owned after the transactions were not explicitly stated in the summary provided on the report.

Context

• These grants are director compensation (awards), a routine non-market transaction; such awards do not necessarily signal a personal trading decision.
• The derivative award is a cash-settled phantom share equivalent, not an immediately tradable stock position.