AEP Form 4: Director granted 377 phantom stock units at $112.50

Rhea-AI Filing Summary

Art A. Garcia, a director of American Electric Power (AEP), received 377 phantom stock units under AEP's Stock Unit Accumulation Plan on 09/30/2025. Each phantom unit represents the right to receive the cash value of one share of AEP common stock; the filing states the AEP share price at the transaction was $112.50. The phantom units are payable in cash or shares after Mr. Garcia leaves the board, and may be transferred into an alternative investment account while he remains a director. After this grant, Mr. Garcia beneficially owns 1,801 shares directly.

Positive

• Director alignment with shareholders: 377 phantom stock units link director compensation to AEP share value
• Clear disclosure of terms: Units payable in cash or shares and transferable into alternative investment account
• Maintained ownership stake: Reporting person holds 1,801 shares directly after the transaction

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received phantom stock aligning compensation with shareholder value; modest economic stake increase.

The grant of 377 phantom stock units is a routine, non-cash director compensation event that ties the director's payout to AEP's share price, cited at $112.50 at the transaction time. Phantom units are common for non-employee directors and preserve cash while linking pay to equity performance. The post-grant direct beneficial ownership of 1,801 shares is small relative to a large utility but signals continued alignment with shareholders. This disclosure does not indicate any sale or change in control implications.

Corporate Governance Expert

TL;DR: Compensation structure reflects standard governance practice—deferred, stock-linked pay for non-employee directors.

The use of phantom stock units payable in cash or shares upon departure is consistent with practices to avoid immediate dilution while maintaining long-term alignment. The ability to transfer units into alternative investments before termination provides flexibility but does not materially alter governance signals. The Form 4 cleanly discloses the grant and resulting direct ownership; there are no indications of related-party transactions or unusual terms disclosed in this filing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

GARCIA ART A

(Last) (First) (Middle)

1 RIVERSIDE PLAZA

(Street)

COLUMBUS OH 43215

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AMERICAN ELECTRIC POWER CO INC [ AEP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Units(1)	$0	09/30/2025		A		377(1)		(2)	(2)	Common Stock	377(1)	$112.5(3)	1,801	D

Explanation of Responses:

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.

2. 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.

3. Was AEP Stock Price at the time of the transaction.

Remarks:

	/s/ David C. House, Attorney-in-Fact for Art A. Garcia	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Art A. Garcia report on the AEP Form 4?

He reported receiving 377 phantom stock units under AEP's Stock Unit Accumulation Plan on 09/30/2025 and a direct beneficial ownership of 1,801 shares after the transaction.

What is a phantom stock unit in this filing?

The filing states each phantom stock unit represents the right to receive the cash value of one share of AEP common stock, payable in cash or shares following board service termination.

What price was used to value the phantom units?

The filing shows the AEP stock price at the time of the transaction was $112.50, which is the price referenced for the transaction.

Can the phantom stock units be transferred before leaving the board?

Yes. The reporting person may transfer the phantom stock in the AEP Stock Plan account into an alternative investment account at any time, per the filing.

Does this Form 4 show any sales of AEP shares by the director?

No. The Form 4 discloses an acquisition (phantom units) and reports 1,801 shares beneficially owned; it does not report any disposals or sales.