American Electric Power (AEP) director granted new phantom stock units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
FOWKE BENJAMIN G S III reported acquisition or exercise transactions in this Form 4 filing.
AMERICAN ELECTRIC POWER CO INC director Benjamin G. S. Fowke III reported a compensation-related change in his holdings. He received a grant of Phantom Stock Units tied to 310 shares of Common Stock at $136.81 per share, bringing his total Phantom Stock Units to 7,070. These units arise from deferring his quarterly cash retainer into the AEP Stock Fund under the AEP Stock Unit Accumulation Plan for Non-Employee Directors and are paid in cash or shares after his board service ends or a later elected date. Following this update, he also reports direct holdings of 25,898 and 2,371 Common Stock shares in separate entries. No open-market purchases or sales are reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
FOWKE BENJAMIN G S III
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units | 0 | $136.81 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock Units — 7,070 shares (Direct, null);
Common Stock — 2,371 shares (Direct, null)
Footnotes (1)
- The reporting director previously deferred the receipt of his quarterly cash retainer into the AEP Stock Fund under the AEP Stock Unit Accumulation Plan for Non-Employee Directors. The reporting director may transfer amounts in the AEP Stock Fund into an alternative investment at any time. Stock Units are paid to the director in cash or shares upon termination of service unless the director has elected to defer payment for a period that results in payment commencing not later than five years thereafter. Was AEP Stock Price at the time of the transaction.
Key Figures
Phantom stock grant: 310 underlying shares at $136.81
Total Phantom Stock Units: 7,070 units
Common Stock holding 1: 25,898 shares
+2 more
5 metrics
Phantom stock grant
310 underlying shares at $136.81
Phantom Stock Units grant price and underlying AEP common shares
Total Phantom Stock Units
7,070 units
Phantom Stock Units held after the transaction
Common Stock holding 1
25,898 shares
Direct AEP Common Stock reported after transaction
Common Stock holding 2
2,371 shares
Additional direct AEP Common Stock reported after transaction
Conversion price
$0.00
Conversion or exercise price for Phantom Stock Units
Key Terms
Phantom Stock Units, AEP Stock Unit Accumulation Plan for Non-Employee Directors, AEP Stock Fund, Stock Units
4 terms
Phantom Stock Units financial
"security_title: "Phantom Stock Units" and underlying_security_title: "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
"deferred the receipt of his quarterly cash retainer into the AEP Stock Fund under the AEP Stock Unit Accumulation Plan for Non-Employee Directors"
AEP Stock Fund financial
"deferred the receipt of his quarterly cash retainer into the AEP Stock Fund under the AEP Stock Unit Accumulation Plan"
Stock Units financial
"Stock Units are paid to the director in cash or shares upon termination of service"
Stock units are individual pieces of ownership in a company, like slices of a pie that together make up the whole business. They matter to investors because each unit represents a claim on the company’s assets, profits and sometimes voting power, and changes in the number or value of these units affect ownership percentages, potential dividends and share dilution — all of which influence an investment’s worth.
FAQ
What insider transaction did AEP director Benjamin Fowke report on this Form 4?
Benjamin Fowke reported a grant of Phantom Stock Units. The award reflects deferred quarterly cash retainers converted into the AEP Stock Fund, tied to 310 underlying common shares at $136.81, increasing his total Phantom Stock Units to 7,070 with no open-market trade.
Does this AEP Form 4 show any insider buying or selling of common stock?
No open-market buying or selling is reported for AEP common stock. The filing lists updated direct holdings of 25,898 and 2,371 common shares, but the only transaction is a Phantom Stock Unit grant from deferred director fees.
How many Phantom Stock Units tied to AEP stock does the director hold after this filing?
After this filing, the director holds 7,070 Phantom Stock Units. These units are linked to AEP common stock and stem from deferring quarterly cash retainers into the AEP Stock Fund, to be paid in cash or shares after board service ends or later.
When are AEP Phantom Stock Units paid out to the director?
Phantom Stock Units are paid in cash or shares when board service ends. The director may also elect to defer payment, but any deferral must start no later than five years after termination of service, according to the plan terms.
What plan governs the AEP director’s Phantom Stock Unit deferrals?
The deferrals occur under the AEP Stock Unit Accumulation Plan for Non-Employee Directors. Quarterly cash retainers are directed into the AEP Stock Fund, creating Phantom Stock Units that track AEP stock performance until payout in cash or shares.