Innocenzo Michael 4

What Happened

• Innocenzo Michael, Chief Operating Officer of Exelon (EXC), exercised/converting derivative awards and received RSU and performance-share awards on 2026-02-02. The filing reports conversions totaling 27,469 shares (2,432 + 5,748 + 7,734 + 11,555) and awards totaling 32,223 shares (20,668 RSUs + 11,555 performance shares).
• To satisfy tax and payment obligations, 9,547 shares were withheld/used to pay taxes at $43.91 per share (total $419,209) and 7,199 shares were disposed to the issuer at $43.91 per share (total $316,108). These withholdings/dispositions reflect standard tax/exercise-related settlements rather than open-market sales.

Key Details

• Transaction date: February 2, 2026 (Form filed Feb 4, 2026 — appears timely).
• Reported prices: $43.91 per share for tax withholding (9,547 shares; $419,209) and disposition to issuer (7,199 shares; $316,108). Other derivative exercise entries list no per-share price (conversion/vesting).
• Shares reported acquired: 27,469 via exercise/conversion and 32,223 via awards (RSUs and performance shares).
• Shares disposed/used: 9,547 (tax withholding) and 7,199 (returned to issuer).
• Shares owned after the transactions: not specified in the provided filing details.
• Transaction codes: M = exercise/conversion of derivative; A = grant/award; F = payment of exercise price/tax liability (withholding); D = disposition to issuer.
• Notable footnotes: F1 = RSU award under LTIP (vests in 1/3 increments; each RSU pays one share on vesting); F2 = performance shares under LTIP (vest immediately on grant); F3–F5 note small additional shares from dividend reinvestment; F6–F7 relate to phantom share equivalents in a deferred-comp plan.

Context

• These transactions appear to be vesting/conversion of incentives and an internal settlement of tax/exercise obligations (share withholding/disposition), a common practice when RSUs/performance shares vest or options are exercised. Withheld/returned shares to cover taxes or exercise costs are routine and do not necessarily signal the insider's market view.
• For retail investors: awards and exercises indicate executive compensation realization. Purchases (buys) are generally more informative as bullish signals; these entries largely reflect compensation settlement rather than an independent purchase or open-market sale.