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  4. [Form 4] Constellation Energy Corp Insider Trading Activity

Constellation Energy (CEG) director adds deferred and phantom stock units

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

DE BALMANN YVES C reported acquisition or exercise transactions in this Form 4 filing.

Constellation Energy Corp director Yves C. de Balmann received a grant of 556 Common Stock deferred stock units on Constellation Energy common stock. The award, valued at $305.71 per unit, increased his deferred stock unit holdings to 51,340 units held directly.

He also reports 636 shares of common stock held directly and 203 shares held indirectly through de Balmann Family Holdings LLLP. In addition, he holds 50,571 phantom deferred stock units tied to legacy director compensation, which are payable in cash on a 1-for-1 basis using the year-end stock price upon termination of his service. Recent balances reflect additional shares and units credited through quarterly automatic dividend reinvestment features.

Positive

  • None.

Negative

  • None.
Insider DE BALMANN YVES C
Role null
Type Security Shares Price Value
Grant/Award Common Stock (Deferred Stock Units) 556 $305.71 $170K
holding Phantom Deferred Stock Units -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock (Deferred Stock Units) — 51,340 shares (Direct, null); Phantom Deferred Stock Units — 50,571 shares (Direct, null); Common Stock — 636 shares (Direct, null); Common Stock — 203 shares (Indirect, By de Balmann Family Holdings LLLP)
Footnotes (1)
  1. Balance includes approximately 262 shares acquired through quarterly automatic dividend reinvestments. Phantom deferred stock units converted from the legacy Constellation Energy Group Inc. Deferred Compensation Plan for Non-employee Directors (the "Plan") that will be settled in cash on a 1-for-1 basis using the year-end price of Common Stock in the year of termination of the reporting person's service. Balance updated to reflect approximately 261 additional stock units credited through the quarterly automatic dividend reinvestment feature of the Plan.
Deferred stock units granted 556 units Common Stock (Deferred Stock Units) awarded on April 28, 2026
Grant price per unit $305.71 per unit Price used for 556 deferred stock units
Deferred stock units balance 51,340 units Common Stock (Deferred Stock Units) after award
Direct common shares 636 shares Common Stock held directly after reported holdings
Indirect common shares 203 shares Common Stock held via de Balmann Family Holdings LLLP
Phantom deferred stock units 50,571 units Legacy plan phantom units tied to Common Stock
Dividend reinvestment shares 262 shares Common shares acquired via quarterly dividend reinvestment
Dividend reinvestment phantom units 261 units Additional phantom units credited via plan reinvestment
Phantom Deferred Stock Units financial
"Phantom deferred stock units converted from the legacy Constellation Energy Group Inc. Deferred Compensation Plan for Non-employee Directors"
Phantom deferred stock units are promises by a company to pay the cash value (or sometimes actual shares) tied to its stock at a future date rather than issuing real shares now; think of them as an IOU that tracks the company’s share price. They matter to investors because they create a future cash or accounting cost for the company without diluting existing ownership immediately, affecting reported profits and future cash flow when the promises become payable.
Deferred Stock Units financial
"Common Stock (Deferred Stock Units) that will be settled in cash on a 1-for-1 basis"
Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.
automatic dividend reinvestments financial
"Balance includes approximately 262 shares acquired through quarterly automatic dividend reinvestments"
de Balmann Family Holdings LLLP financial
"Common Stock held indirectly By de Balmann Family Holdings LLLP"
Deferred Compensation Plan for Non-employee Directors financial
"converted from the legacy Constellation Energy Group Inc. Deferred Compensation Plan for Non-employee Directors"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
DE BALMANN YVES C
(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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/28/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock (Deferred Stock Units)04/28/2026A556A$305.7151,340(1)D
Common Stock636D
Common Stock203IBy de Balmann Family Holdings LLLP
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Deferred Stock Units(2) (2) (2)Common Stock50,571(2)50,571(2)D
Explanation of Responses:
1. Balance includes approximately 262 shares acquired through quarterly automatic dividend reinvestments.
2. Phantom deferred stock units converted from the legacy Constellation Energy Group Inc. Deferred Compensation Plan for Non-employee Directors (the "Plan") that will be settled in cash on a 1-for-1 basis using the year-end price of Common Stock in the year of termination of the reporting person's service. Balance updated to reflect approximately 261 additional stock units credited through the quarterly automatic dividend reinvestment feature of the Plan.
/s/ Brian Buck, Attorney-in-Fact for Yves de Balmann04/30/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did CEG director Yves C. de Balmann report?

Yves C. de Balmann reported receiving 556 Common Stock deferred stock units linked to Constellation Energy Corp. The units were granted at $305.71 each and increased his deferred stock unit balance to 51,340. This filing reflects a compensation-related equity award rather than an open-market share purchase.

How many Constellation Energy (CEG) shares does Yves C. de Balmann hold directly and indirectly?

After the reported updates, Yves C. de Balmann holds 636 Constellation Energy common shares directly and 203 shares indirectly through de Balmann Family Holdings LLLP. These positions are separate from his larger deferred and phantom stock unit balances reported as part of director compensation arrangements.

What are the phantom deferred stock units reported in the CEG Form 4?

The Form 4 shows 50,571 phantom deferred stock units converted from a legacy Constellation Energy Group Inc. director plan. They will be settled in cash on a 1-for-1 basis using the year-end common stock price in the year de Balmann’s board service ends, reflecting non-tradable compensation units.

How were dividend reinvestments reflected in Yves C. de Balmann’s CEG holdings?

The filing notes approximately 262 common shares were acquired through quarterly automatic dividend reinvestments, increasing his share balance. It also states about 261 additional phantom deferred stock units were credited via the plan’s dividend reinvestment feature, boosting his non-cash compensation-linked unit holdings.

Are the deferred stock units in CEG’s Form 4 the same as regular common shares?

The deferred stock units and phantom deferred stock units are linked to Constellation Energy common stock but differ from regular shares. Some units represent deferred director compensation and, in the phantom case, will be settled in cash based on future year-end stock prices rather than tradable equity today.

What total deferred stock unit balance does Yves C. de Balmann have at CEG after this grant?

Following the 556-unit grant of Common Stock deferred stock units, de Balmann’s balance in that category rose to 51,340 units held directly. Separately, he holds 50,571 phantom deferred stock units tied to a legacy director plan, which are intended to be settled in cash at a future date.