Sauvage Joseph G 4

What Happened

• Joseph G. Sauvage, a director of American Electric Power Co. (AEP), received a grant of stock units (derivative award) on 2026-06-30. The filing reports 0 shares transferred at a reference price of $136.81 per share, indicating the award is a stock‑unit grant that will be paid in cash or shares at a later date or upon termination/deferral election.
• This was an award/grant (transaction code A), not an open‑market purchase or sale, so there was no immediate change in AEP common shares owned by the director.

Key Details

• Transaction date: 2026-06-30; Filing date: 2026-07-01 (appears timely).
• Reported price: $136.81 (footnote indicates this is AEP’s stock price at the time).
• Shares in this transaction: 0 issued/transferred now (derivative stock units awarded).
• Footnote summary: Stock units are generally paid in cash or shares upon termination of service unless the director elected deferred payment (up to five years) — meaning payout happens later.
• No indication in this filing of a 10b5-1 plan, sale, purchase, or tax‑withholding action.

Context

• Awards of stock units to directors are common compensation and do not necessarily signal a buy or sell decision; they typically convert to cash or stock at a future date or upon departure.
• Because this is a derivative award (not a sale or open‑market purchase), it’s largely a compensation event rather than an immediate sentiment indicator for retail investors.