American Electric Power insider boosts deferred stake with phantom stock

Rhea-AI Filing Summary

American Electric Power Company, Inc. (AEP) – Form 4 filing dated 07/02/2025

Director Hunter C. Gary reported the acquisition of 409.59 phantom stock units on 06/30/2025 at a reference price of $103.76 per AEP share. Phantom stock units are deferred compensation instruments that track the value of AEP common stock and are generally settled in cash or shares when board service ends, unless the director elects a later payout (no later than five years after termination).

Following the transaction, Mr. Gary directly holds 2,543.5 phantom stock units. No open-market purchase or sale of common shares occurred, and no non-derivative holdings were reported.

The filing reflects routine board compensation rather than a discretionary insider buy or sell. As such, the disclosure is informational and neutral for investors, indicating continued alignment of the director’s interests with shareholder value but no material change to AEP’s fundamentals.

Insights

Corporate Governance Analyst

TL;DR: Routine phantom-stock grant; neutral impact on AEP valuation.

Phantom stock units are standard, non-cash equity equivalents used to align directors with shareholders without immediate dilution. The grant of 409.59 units (≈$42k notional value) raises Mr. Gary’s deferred holdings to 2,543.5 units, a modest stake relative to AEP’s $45 billion market cap. Because phantom units settle only after service ends and do not affect share count today, the filing has no direct earnings or cash-flow implications. It neither signals insider buying conviction nor selling pressure, so I classify the disclosure as neutral (rating 0) and not impactful for most investment theses.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider GARY HUNTER CLARK

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	409.59	$103.76	$42K

Holdings After Transaction: Phantom Stock Units — 2,543.5 shares (Direct)

Footnotes (2)

1. F1. 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.
2. F2. Was AEP Stock Price at the time of the transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 07/02/2025 - 10:57 AM Learn about SEC filing dates

FAQ

Who is the insider in AEP's latest Form 4 filing?

The insider is Director Hunter C. Gary.

What type of security did the AEP director acquire?

He acquired 409.59 phantom stock units, a form of deferred equity compensation.

At what price were the phantom stock units valued?

The reference price was $103.76 per AEP share on 06/30/2025.

How many phantom stock units does the director now hold in total?

After the transaction, he directly holds 2,543.5 phantom stock units.

Does this Form 4 indicate an open-market purchase of AEP common stock?

No. It records a phantom-stock grant; no common shares were bought or sold.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

GARY HUNTER CLARK

(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)
06/30/2025

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	$0	06/30/2025		A		409.59		(1)	(1)	Common Stock	409.59	$103.76(2)	2,543.5	D

Explanation of Responses:

1. 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.

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

Remarks:

	/s/ David C. House, Attorney-in-Fact for Hunter C. Gary	07/02/2025
	** 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.