How do the deferred phantom share equivalents work for Exelon (EXC) director William P. Bowers?

Bowers holds 20,158 deferred phantom share equivalents in an Exelon stock fund within a non-qualified deferred compensation plan. These track Exelon common stock value and will be settled in cash on a 1-for-1 basis when his board service terminates.

Exelon director granted 3,720 RSUs, reports deferred units

BOWERS WILLIAM P reported acquisition or exercise transactions in this Form 4 filing.

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Form Type

Rhea-AI Filing Summary

BOWERS WILLIAM P reported acquisition or exercise transactions in this Form 4 filing.

EXELON CORP director William P. Bowers received a compensation-related equity award and reported existing deferred units. On 2026-04-28, he was granted 3,720 "2026 Directors Restricted Stock Units" under the Exelon Long-term Incentive Plan. These RSUs will vest and be settled in Exelon common stock on a 1-for-1 basis and will accrue additional stock units through dividend reinvestment.

He also reported 20,158 deferred phantom share equivalents tied to Exelon common stock in a non-qualified deferred compensation plan. According to the plan, these phantom share equivalents will be settled in cash on a 1-for-1 basis when his service on the board ends.

Insider Trade Summary

Grant/Award: 3,720 shares

Grant/Award 2 txns

Insider BOWERS WILLIAM P

Role Director

Type	Security	Shares	Price	Value
Grant/Award	2026 Directors Restricted Stock Units	3,720	$0.00	$0.00
holding	Deferred phantom share equivalents	--	--	--

Holdings After Transaction: 2026 Directors Restricted Stock Units — 3,720 contracts (Direct); Deferred phantom share equivalents — 20,158 contracts (Direct)

Footnotes (2)

F1. Annual restricted stock unit (RSU) award subject to the Exelon Long-term Incentive Plan (LTIP) will fully vest and be settled in shares of Exelon common stock on a 1 for 1 basis. The award will accrue additional stock units through dividend reinvestment which will vest along with the underlying award.
F2. Phantom share equivalents held in the reporting person's Exelon stock fund account that is part of a multi-fund, non-qualified deferred compensation plan. Phantom share equivalents will be settled for cash on a 1 for 1 basis upon the termination of the reporting person's service to the board of directors.

Key Figures

RSU grant size: 3,720 units Deferred phantom share equivalents: 20,158 units RSU vesting and settlement date: 2027-04-28 +1 more

4 metrics

RSU grant size 3,720 units 2026 Directors Restricted Stock Units granted on 2026-04-28

Deferred phantom share equivalents 20,158 units Underlying Exelon common stock in deferred compensation plan

RSU vesting and settlement date 2027-04-28 RSUs fully vest and settle in Exelon common stock

RSU exercise price $0.00 per unit Grant, award, or other acquisition of RSUs

Key Terms

Restricted Stock Units, Exelon Long-term Incentive Plan, Phantom share equivalents, non-qualified deferred compensation plan

4 terms

Restricted Stock Units financial

"Annual restricted stock unit (RSU) award subject to the Exelon Long-term Incentive Plan"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Exelon Long-term Incentive Plan financial

"Annual restricted stock unit (RSU) award subject to the Exelon Long-term Incentive Plan (LTIP)"

non-qualified deferred compensation plan financial

"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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Exelon (EXC) director William P. Bowers report in this Form 4?

William P. Bowers reported a new equity-based compensation grant and existing deferred units. He received 3,720 restricted stock units and disclosed 20,158 deferred phantom share equivalents linked to Exelon common stock in a non-qualified deferred compensation plan.

How many restricted stock units did Exelon (EXC) grant to director William P. Bowers?

Exelon granted 3,720 restricted stock units to director William P. Bowers. These 2026 Directors Restricted Stock Units will fully vest and be settled in Exelon common stock on a 1-for-1 basis and will accumulate additional units through dividend reinvestment.

Is the Exelon (EXC) Form 4 for William P. Bowers an open-market stock purchase or sale?

The Form 4 does not show any open-market purchases or sales. It reflects a grant of 3,720 restricted stock units as compensation and a holding entry for 20,158 deferred phantom share equivalents in a deferred compensation plan, not market trades.

When will William P. Bowers’s 2026 Exelon (EXC) restricted stock units vest?

The 2026 Directors Restricted Stock Unit award for William P. Bowers will fully vest and be settled in shares of Exelon common stock on a 1-for-1 basis on 2027-04-28, according to the award terms disclosed in the filing footnotes.

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Accepted by SEC EDGAR 04/29/2026 - 04:00 PM EDT

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^*

BOWERS WILLIAM P

(Last)

(First)

(Middle)

10 S DEARBORN STREET

54TH FLOOR

(Street)

CHICAGO

ILLINOIS

60603

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
EXELON CORP [ EXC ]

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)
04/28/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
2026 Directors Restricted Stock Units	⁽¹⁾	04/28/2026		A		3,720		04/28/2027	04/28/2027	Common Stock	3,720	$0	3,720	D
Deferred phantom share equivalents	⁽²⁾							⁽²⁾	⁽²⁾	Common Stock	20,158		20,158	D

Explanation of Responses:

1. Annual restricted stock unit (RSU) award subject to the Exelon Long-term Incentive Plan (LTIP) will fully vest and be settled in shares of Exelon common stock on a 1 for 1 basis. The award will accrue additional stock units through dividend reinvestment which will vest along with the underlying award.

2. Phantom share equivalents held in the reporting person's Exelon stock fund account that is part of a multi-fund, non-qualified deferred compensation plan. Phantom share equivalents will be settled for cash on a 1 for 1 basis upon the termination of the reporting person's service to the board of directors.

Remarks:

	David T Skinner, attorney-in-fact for William P Bowers	04/29/2026
	** 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)

Source: View Original Filing on SEC EDGAR