AEP (AEP) director Art A. Garcia receives phantom stock unit award
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
GARCIA ART A reported acquisition or exercise transactions in this Form 4 filing.
AMERICAN ELECTRIC POWER CO INC director Art A. Garcia received a grant of phantom stock units as board compensation. The award represents 310 underlying shares of common stock at a reference price of $136.81 per share, increasing his total phantom stock units in the plan to 2,852.
Each phantom stock unit tracks the value of one share of AEP common stock and is payable in cash or shares after Garcia’s board service ends. He may transfer these phantom units into an alternative investment account at any time, making this a non‑market, compensation-related transaction rather than an open‑market trade.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
GARCIA ART A
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units | 0 | $136.81 | -- |
Holdings After Transaction:
Phantom Stock Units — 2,852 shares (Direct, null)
Footnotes (1)
- Amounts shown represent value in AEP Stock Plan under the AEP Stock Unit Accumulation Plan for Non-Employee Directors. Each share of phantom stock represents the right to receive the cash value of one share of AEP common stock. Shares of phantom stock are payable in cash or shares following termination of the reporting person's service on the Board. The reporting person may transfer the phantom stock in the AEP Stock Plan account into an alternative investment account at any time. Was AEP Stock Price at the time of the transaction.
Key Figures
Underlying shares for grant: 310 shares
Reference stock price: $136.81 per share
Phantom units after transaction: 2,852 units
+1 more
4 metrics
Underlying shares for grant
310 shares
Phantom stock unit award underlying AEP common stock
Reference stock price
$136.81 per share
AEP stock price at time of phantom stock transaction
Phantom units after transaction
2,852 units
Total phantom stock units in AEP Stock Plan following grant
Derivative transactions reported
1 transaction
Single derivative-type grant/award acquisition on this Form 4
Key Terms
Phantom Stock Units, AEP Stock Unit Accumulation Plan for Non-Employee Directors, alternative investment account
3 terms
Phantom Stock Units financial
"Amounts shown represent value in AEP Stock Plan under the AEP Stock Unit Accumulation Plan for Non-Employee Directors. Each share of phantom stock represents the right to receive the cash value of one share of AEP common stock."
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
AEP Stock Unit Accumulation Plan for Non-Employee Directors financial
"Amounts shown represent value in AEP Stock Plan under the AEP Stock Unit Accumulation Plan for Non-Employee Directors."
alternative investment account financial
"The reporting person may transfer the phantom stock in the AEP Stock Plan account into an alternative investment account at any time."
FAQ
What did AEP director Art A. Garcia report in this Form 4 for AEP?
Art A. Garcia reported receiving a grant of phantom stock units tied to 310 underlying AEP common shares. These units are board compensation and increase his total phantom stock holdings in the plan to 2,852 units, without any open-market share purchase or sale.
Are the AEP phantom stock units in this Form 4 an open-market purchase or sale?
No, the phantom stock units reflect a grant or award, not an open-market trade. They are part of the AEP Stock Unit Accumulation Plan for Non-Employee Directors and are payable later in cash or shares, based on AEP’s common stock value.
What does the $136.81 figure mean in Art A. Garcia’s AEP Form 4 filing?
The $136.81 figure is the AEP stock price at the time of the phantom stock grant. It serves as a reference value for the 310 underlying common shares tied to the phantom units, but does not represent an actual cash payment or trade price.
When will Art A. Garcia receive value from these AEP phantom stock units?
The phantom stock units are payable in cash or AEP shares after Garcia’s service on the board ends. Until then, they track the value of AEP common stock and may be transferred into an alternative investment account within the AEP Stock Unit Accumulation Plan.