Southern CEO exercises awards, withholds shares for tax
Southern Company Chairman, President & CEO Christopher C. Womack reported compensation-related share activity.
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Form Type
4
Rhea-AI Filing Summary
Southern Company Chairman, President & CEO Christopher C. Womack reported compensation-related share activity. He exercised performance restricted stock units into 6,898 shares of Southern Company common stock, with 3,414 shares withheld to cover required state and federal tax obligations. Following these transactions, he holds 213,449.2496 shares directly and 2,603.3794 shares indirectly through a 401(k) plan.
Insider Trade Summary
6,898 shares exercised/converted
Exercise
4 txns
Insider
WOMACK CHRISTOPHER C
Role
Chairman, President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Restricted Stock Units | 6,898 | $94.55 | $652K |
| Exercise | Southern Company Common Stock | 7,662 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Southern Company Common Stock | 3,414 | $94.55 | $323K |
| holding | Southern Company Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance Restricted Stock Units — 0 contracts (Direct);
Southern Company Common Stock — 213,449.2496 shares (Direct);
Southern Company Common Stock — 2,603.3794 shares (Indirect, By 401(k))
Footnotes (3)
- F1. Shares acquired upon vesting of the final 1/3 of performance restricted stock units granted on May 24, 2023. Includes 764 accrued dividend equivalent units.
- F2. Shares withheld to satisfy required state and federal tax withholding requirements.
- F3. Represents the final 1/3 of performance restricted stock units granted on May 24, 2023.
Key Figures
Shares acquired from PRSUs: 6,898 shares
Dividend equivalent units included: 764 units
Shares withheld for taxes: 3,414 shares
+3 more
6 metrics
Shares acquired from PRSUs
6,898 shares
Vesting of final one-third of performance restricted stock units granted May 24, 2023
Dividend equivalent units included
764 units
Accrued dividend equivalent units included in shares acquired
Shares withheld for taxes
3,414 shares
Withheld to satisfy state and federal tax withholding requirements
Implied share value on tax withholding
$94.55 per share
Price per share used for tax-withholding disposition
Direct holdings after transaction
213,449.2496 shares
Southern Company common stock held directly after reported transactions
Indirect 401(k) holdings
2,603.3794 shares
Southern Company common stock held indirectly through 401(k) plan
Key Terms
Performance Restricted Stock Units, dividend equivalent units, tax withholding requirements, 401(k)
4 terms
Performance Restricted Stock Units financial
"Performance Restricted Stock Units granted on May 24, 2023"
Performance restricted stock units (PRSUs) are promises to deliver company shares to employees or executives only if the business meets specific performance targets and any time-based holding rules. Think of them as a bonus that converts into stock only after set goals are reached, so investors watch PRSUs for two reasons: they can dilute existing shares if paid out, and they signal how closely management’s pay is tied to company performance.
dividend equivalent units financial
"Includes 764 accrued dividend equivalent units"
Dividend equivalent units are bookkeeping credits that mirror cash dividends paid on actual shares, granted to holders of stock-based awards such as restricted stock units or deferred compensation. They matter to investors because they increase a company’s reported employee compensation cost and can lead to issuance of more shares or cash payouts over time, similar to extra pay linked to ownership that affects shareholder dilution and corporate cash flow.
tax withholding requirements financial
"Shares withheld to satisfy required state and federal tax withholding requirements"
401(k) financial
"Indirect ownership noted as By 401(k)"
A 401(k) is a type of retirement savings plan offered by employers that allows workers to set aside a portion of their paycheck before taxes are taken out. The money saved in a 401(k) can grow over time through investments, helping individuals build funds for their future retirement. It matters to investors because it provides a tax-advantaged way to save and invest for long-term financial security.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Southern Company (SO) CEO Christopher Womack report in this Form 4?
Christopher Womack reported the vesting and exercise of performance restricted stock units into Southern Company common shares, along with shares withheld to cover tax obligations. These are compensation-related events rather than open-market purchases or sales.
What are performance restricted stock units in the Southern Company (SO) filing?
Performance restricted stock units are equity awards that convert into common shares if specified performance conditions are met. In this case, the filing notes vesting of the final one-third of units granted on May 24, 2023, plus dividend equivalent units.
Does this Southern Company (SO) Form 4 show any remaining derivative awards from this grant?
The filing shows 6,898 performance restricted stock units exercised into common shares and a remaining balance of 0 units for that award, indicating that this was the final one-third of the grant vesting from the May 24, 2023 award.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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