Constellation Energy (NASDAQ: CEG) director granted 130 phantom share units

Rhea-AI Filing Summary

Harrington Charles L. reported acquisition or exercise transactions in this Form 4 filing.

Constellation Energy Corp director Charles L. Harrington received 130 phantom share equivalents tied to Constellation Energy Corp common stock as a compensation award. These deferred compensation units were valued at $279.25 per equivalent and increased his balance to 5,191 phantom share equivalents.

The phantom share equivalents are held in a Constellation Energy Corporation stock fund within a multi-fund, non-qualified deferred compensation plan and will be settled in cash on a 1-for-1 basis when his service ends. The balance can fluctuate with fund performance and also reflects about 7 additional share equivalents from dividend reinvestment on March 20, 2026.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Harrington Charles L.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Compensation - Phantom Share Equivalents	130	$279.25	$36K

Holdings After Transaction: Deferred Compensation - Phantom Share Equivalents — 5,191 shares (Direct)

Footnotes (1)

1. F1. Phantom share equivalents acquired in the reporting person's Constellation Energy Corporation stock fund account that is part of a multi-fund, non-qualified deferred compensation plan and will be settled in cash on a 1-for-1 basis upon termination of the reporting person's service. The balance of phantom share equivalents may fluctuate due to periodic changes in the fund composition. Balance also reflects approximately 7 share equivalents accrued on March 20, 2026 through dividend reinvestment.

Key Figures

Phantom share equivalents granted: 130 units Reference value per unit: $279.25 per equivalent Total phantom share equivalents after grant: 5,191 units +2 more

5 metrics

Phantom share equivalents granted 130 units Grant on March 31, 2026 to director Harrington

Reference value per unit $279.25 per equivalent Valuation used for the 130 phantom share equivalents

Total phantom share equivalents after grant 5,191 units Balance following the March 31, 2026 award

Dividend reinvestment addition ≈7 units Phantom share equivalents accrued on March 20, 2026

Settlement ratio 1-for-1 in cash Cash settlement per phantom share equivalent upon service termination

Key Terms

Phantom share equivalents, non-qualified deferred compensation plan, dividend reinvestment

3 terms

Phantom share equivalents financial

"Phantom share equivalents acquired in the reporting person's Constellation Energy Corporation stock fund account"

non-qualified deferred compensation plan financial

"stock fund account that is part of a multi-fund, non-qualified deferred compensation plan"

An arrangement where an employer agrees to pay part of an employee’s salary or bonus at a later date, often to attract or keep key staff. Think of it as a company IOU or a delayed paycheck held on the company’s books rather than in a protected retirement account; investors care because these promises create future cash obligations that are typically unsecured and depend on the company’s financial health, affecting risk, liabilities, and cash-flow planning.

dividend reinvestment financial

"Balance also reflects approximately 7 share equivalents accrued on March 20, 2026 through dividend reinvestment"

Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.

FAQ

What did CEG director Charles L. Harrington report in this Form 4?

He reported a grant of 130 phantom share equivalents tied to Constellation Energy Corp stock. These units are part of his deferred compensation and increased his total phantom share balance to 5,191, all to be settled in cash at the end of his service.

Are the CEG phantom share equivalents an open-market stock purchase or sale?

No, the 130 phantom share equivalents are a compensation-related award, not an open-market trade. They are bookkeeping entries in a deferred compensation plan, designed to track Constellation Energy Corp’s stock value and settle in cash on a 1-for-1 basis.

How will Charles Harrington’s CEG phantom share equivalents be settled?

They will be settled in cash on a 1-for-1 basis when his service with Constellation Energy Corp ends. The plan credits cash amounts based on the value of the underlying stock at settlement, rather than delivering actual CEG shares.

Why did Harrington’s phantom share balance at CEG change besides the new grant?

In addition to the 130-unit award, his balance reflects roughly 7 phantom share equivalents added through dividend reinvestment on March 20, 2026. The total may also fluctuate over time due to periodic changes in the composition and performance of the stock fund.

Does this CEG Form 4 indicate remaining phantom share holdings after the transaction?

Yes, after receiving 130 phantom share equivalents, Charles Harrington’s total deferred compensation balance in these units is 5,191. This figure represents his reported holdings of phantom share equivalents following the compensation-related transaction on March 31, 2026.

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Accepted by SEC EDGAR 04/02/2026 - 04:52 PM Learn about SEC filing dates

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^*

Harrington Charles L.

(Last) (First) (Middle)

1310 POINT STREET

(Street)

BALTIMORE MARYLAND 21231

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Constellation Energy Corp [ CEG ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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

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

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

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
Deferred Compensation - Phantom Share Equivalents	(1)	03/31/2026		A		130		(1)	(1)	Common Stock	130	$279.25	5,191(1)	D

Explanation of Responses:

1. Phantom share equivalents acquired in the reporting person's Constellation Energy Corporation stock fund account that is part of a multi-fund, non-qualified deferred compensation plan and will be settled in cash on a 1-for-1 basis upon termination of the reporting person's service. The balance of phantom share equivalents may fluctuate due to periodic changes in the fund composition. Balance also reflects approximately 7 share equivalents accrued on March 20, 2026 through dividend reinvestment.

	/s/ Brian Buck, Attorney-in-Fact for Charles Harrington	04/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)