Fortis Inc. (FTS) VP and General Counsel reports options, PSUs, RSUs and shares

Rhea-AI Filing Summary

Fortis Inc. insider O'Dea Regan Patrick, VP and General Counsel, reports equity holdings on a Form 3. As of February 25, 2026, he directly holds 14,610.37 common shares along with options, performance share units (PSUs) and restricted share units (RSUs) granted under the Fortis Inc. Omnibus Equity Plan. PSUs and RSUs granted in 2024, 2025 and 2026 vest between 2026 and 2029 and may be settled in cash or Fortis common shares, with values based on the five-day volume weighted average trading price on the TSX and increased by dividend-equivalent credits.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

O'Dea Regan Patrick

(Last) (First) (Middle)

5 SPRINGDALE STREET

SUITE 1100

(Street)

ST. JOHN'S A4 A1B 3T2

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/25/2026

3. Issuer Name and Ticker or Trading Symbol
Fortis Inc. [ FTS ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP, General Counsel

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares	14,610.37	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option (right to buy)	02/13/2019(2)	02/13/2028(2)	Common Shares	303(2)	$41.27(1)	D
Option (right to buy)	02/13/2020(3)	02/13/2029(3)	Common Shares	5,888	$47.57(1)	D
Option (right to buy)	02/26/2021(4)	02/26/2030(4)	Common Shares	5,140	$58.4(1)	D
Option (right to buy)	02/25/2022(5)	02/25/2031(5)	Common Shares	5,972	$50.33(1)	D
Performance Share Units (PSUs)	(6)	(6)	Common Shares(6)	2,735.84	(6)	D
Performance Share Units (PSUs)	(7)	(7)	Common Shares(7)	2,448.86	(7)	D
Performance Share Units (PSUs)	(8)	(8)	Common Shares(8)	2,596.06	(8)	D
Restricted Share Units (RSUs)	(9)	(9)	Common Shares(9)	911.95	(9)	D
Restricted Share Units (RSUs)	(10)	(10)	Common Shares(10)	816.29	(10)	D
Restricted Share Units (RSUs)	(11)	(11)	Common Shares(11)	865.35	(11)	D

Explanation of Responses:

1. Exercise price in Canadian dollars.

2. 5,028 Options granted 02/13/18; Options Vesting Schedule: Options Exercisable 02/13/2019 - 1,257; Options Exercisable 02/13/2020 - 1,257; Options Exercisable 02/13/2021 - 1,257; Options Exercisable 02/13/2022 - 1,257; 4,725 Options exercised between 11/16/23 and 12/12/2025.

3. Options Vesting Schedule: Options Exercisable 02/13/2020 - 1,472; Options Exercisable 02/13/2021 - 1,472; Options Exercisable 02/13/2022 - 1,472; Options Exercisable 02/13/2023 - 1,472.

4. Options Vesting Schedule: Options Exercisable 02/26/2021 - 1,285; Options Exercisable 02/26/2022 - 1,285; Options Exercisable 02/26/2023 - 1,285; Options Exercisable 02/26/2024 - 1,285.

5. Options Vesting Schedule: Options Exercisable 02/25/2022 - 1,493; Options Exercisable 02/25/2023 - 1,493; Options Exercisable 02/25/2024 - 1,493; Options Exercisable 02/25/2025 - 1,493.

6. PSUs granted on January 1, 2024 pursuant to the Fortis Inc. Omnibus Equity Plan. PSUs vest on December 31, 2026 based on performance against pre-established measures. PSUs may be settled in cash or Fortis Inc. common shares. The cash value of a vested PSU is equal to the market price of a Fortis Inc. common share at the relevant time, calculated using the five-day volume weighted average trading price of shares on the TSX. The reporting individual earns additional PSUs as dividend equivalents for dividends paid on Fortis Inc. common shares prior to vesting.

7. PSUs granted on January 1, 2025 pursuant to the Fortis Inc. Omnibus Equity Plan. PSUs vest on December 31, 2027 based on performance against pre-established measures. PSUs may be settled in cash or Fortis Inc. common shares. The cash value of a vested PSU is equal to the market price of a Fortis Inc. common share at the relevant time, calculated using the five-day volume weighted average trading price of shares on the TSX. The reporting individual earns additional PSUs as dividend equivalents for dividends paid on Fortis Inc. common shares prior to vesting.

8. PSUs granted on January 1, 2026 pursuant to the Fortis Inc. Omnibus Equity Plan. PSUs vest on December 31, 2028 based on performance against pre-established measures. PSUs may be settled in cash or Fortis Inc. common shares. The cash value of a vested PSU is equal to the market price of a Fortis Inc. common share at the relevant time, calculated using the five-day volume weighted average trading price of shares on the TSX. The reporting individual earns additional PSUs as dividend equivalents for dividends paid on Fortis Inc. common shares prior to vesting.

9. RSUs granted on January 1, 2024 pursuant to the Fortis Inc. Omnibus Equity Plan. RSUs vest on January 1, 2027. RSUs may be settled in cash or Fortis Inc. common shares. The cash value of a vested RSU is equal to the market price of a Fortis Inc. common share at the relevant time, calculated using the five-day volume weighted average trading price of shares on the TSX. The reporting individual earns additional RSUs as dividend equivalents for dividends paid on Fortis Inc. common shares prior to vesting.

10. RSUs granted on January 1, 2025 pursuant to the Fortis Inc. Omnibus Equity Plan. RSUs vest on January 1, 2028. RSUs may be settled in cash or Fortis Inc. common shares. The cash value of a vested RSU is equal to the market price of a Fortis Inc. common share at the relevant time, calculated using the five-day volume weighted average trading price of shares on the TSX. The reporting individual earns additional RSUs as dividend equivalents for dividends paid on Fortis Inc. common shares prior to vesting.

11. RSUs granted on January 1, 2026 pursuant to the Fortis Inc. Omnibus Equity Plan. RSUs vest on January 1, 2029. RSUs may be settled in cash or Fortis Inc. common shares. The cash value of a vested RSU is equal to the market price of a Fortis Inc. common share at the relevant time, calculated using the five-day volume weighted average trading price of shares on the TSX. The reporting individual earns additional RSUs as dividend equivalents for dividends paid on Fortis Inc. common shares prior to vesting.

	Regan O'Dea	02/25/2026
	** 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 5 (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.
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FAQ

What does Fortis (FTS) Form 3 report for O'Dea Regan Patrick?

The Form 3 reports O'Dea Regan Patrick’s existing equity holdings in Fortis Inc., not new trades. It lists common shares, stock options, performance share units (PSUs), and restricted share units (RSUs) he holds as of February 25, 2026, all owned directly.

How many Fortis Inc. common shares does O'Dea Regan Patrick hold?

O'Dea Regan Patrick directly holds 14,610.37 Fortis Inc. common shares. This figure represents his reported ownership as of February 25, 2026. In addition, he holds various options, PSUs and RSUs granted under the Fortis Inc. Omnibus Equity Plan with multi-year vesting schedules.

What stock options are disclosed for O'Dea Regan Patrick at Fortis (FTS)?

The filing shows several option positions labeled as “Option (right to buy)” with direct ownership. Footnotes describe grants such as 5,028 options from February 13, 2018 and detailed vesting across 2019–2025, with exercise prices stated in Canadian dollars under specified vesting schedules.

How do Fortis performance share units (PSUs) work for O'Dea Regan Patrick?

PSUs were granted on January 1 of 2024, 2025 and 2026 under the Omnibus Equity Plan. They vest on December 31 of 2026, 2027 and 2028 based on performance measures, and may be settled in cash or common shares, with value based on five-day TSX volume weighted average prices.

What are the vesting terms of Fortis restricted share units (RSUs) for O'Dea Regan Patrick?

RSUs were granted January 1 of 2024, 2025 and 2026 under the Omnibus Equity Plan. They vest on January 1 of 2027, 2028 and 2029. RSUs may be settled in cash or Fortis common shares, with value tied to five-day TSX volume weighted average trading prices.

Do Fortis PSUs and RSUs for O'Dea Regan Patrick earn dividend equivalents?

Yes, both PSUs and RSUs earn dividend equivalents. The filing states the reporting individual receives additional PSUs or RSUs for dividends paid on Fortis Inc. common shares before vesting, effectively mirroring cash dividends through extra units credited to the award balances.