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Southern Company (SO) director defers retainers into stock and cash units

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

Rhea-AI Filing Summary

Southern Company director Anthony F. Earley Jr. reported routine compensation-related awards rather than open-market trades. On July 1, 2026, he acquired 473.0866 deferred stock units tied to Southern Company common stock, bringing his deferred stock unit balance to 31,592.0786 units. He also received 229.9727 phantom stock units, increasing his phantom unit holdings to 858.9727 units.

Footnotes explain these are quarterly board retainers deferred under company plans. Deferred stock units will be settled in shares of common stock after his board service ends, while phantom stock units will be settled in cash based on the value of one Southern Company share. Both types of units also receive additional credits for reinvested dividends.

Positive

  • None.

Negative

  • None.
Insider EARLEY ANTHONY F JR
Role Director
Type Security Shares Price Value
Grant/Award Deferred Stock Units Holding 473.0866 $95.12 $45K
Grant/Award Phantom Stock Units 229.9727 $95.12 $22K
Holdings After Transaction: Deferred Stock Units Holding — 31,592.0786 shares (Direct); Phantom Stock Units — 858.9727 shares (Direct)
Footnotes (6)
  1. F1. Represents quarterly director equity retainer paid under the Southern Company 2021 Equity and Incentive Compensation Plan and deferred pursuant to the Deferred Compensation Plan for Outside Directors of The Southern Company (Deferred Compensation Plan). Each deferred stock unit represents the right to receive one share of Southern Company common stock.
  2. F2. Deferred stock units are settled in shares of Southern Company common stock on the date(s) following the termination of the reporting person's service on the Board as specified by the reporting person pursuant to the Deferred Compensation Plan. There is no exercise or expiration date.
  3. F3. Includes additional deferred stock units acquired through the dividend reinvestment feature of the Deferred Compensation Plan.
  4. F4. Represents quarterly director cash retainer paid under the Southern Company 2021 Equity and Incentive Compensation Plan and deferred pursuant to the Deferred Compensation Plan. Each phantom stock unit represents the right to receive the cash value of one share of Southern Company common stock.
  5. F5. Phantom stock units are settled in cash on the date(s) following the termination of the reporting person's service on the Board as specified by the reporting person pursuant to the Deferred Compensation Plan.
  6. F6. Includes additional phantom stock units credited to the reporting person's account to reflect dividends paid on common stock prior to settlement pursuant to the Deferred Compensation Plan.
Deferred stock units granted 473.0866 units Grant on July 1, 2026; tied to Southern Company common stock
Deferred stock units held after grant 31,592.0786 units Balance following July 1, 2026 award
Phantom stock units granted 229.9727 units Quarterly director cash retainer deferred July 1, 2026
Phantom stock units held after grant 858.9727 units Balance following July 1, 2026 award
Reference value per unit $95.1200 per unit Price per share used for July 1, 2026 unit calculations
Deferred stock units financial
"Each deferred stock unit represents the right to receive one share of Southern Company common stock."
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.
Phantom stock units financial
"Each phantom stock unit represents the right to receive the cash value of one share of Southern Company common stock."
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
Deferred Compensation Plan financial
"Deferred pursuant to the Deferred Compensation Plan for Outside Directors of The Southern Company."
A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.
2021 Equity and Incentive Compensation Plan financial
"Paid under the Southern Company 2021 Equity and Incentive Compensation Plan and deferred pursuant to the Deferred Compensation Plan."

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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*
EARLEY ANTHONY F JR
(Last)(First)(Middle)
30 IVAN ALLEN JR. BLVD., NW
(Street)
ATLANTA GEORGIA 30308
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
SOUTHERN CO [ SO ] 		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)
07/01/2026		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
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
Deferred Stock Units Holding(1)$007/01/2026A473.0866 (2) (2)Southern Company Common Stock473.0866$95.1231,592.0786(3)D
Phantom Stock Units(4)$007/01/2026A229.9727 (5) (5)Southern Company Common Stock229.9727$95.12858.9727(6)D
Explanation of Responses:
1. Represents quarterly director equity retainer paid under the Southern Company 2021 Equity and Incentive Compensation Plan and deferred pursuant to the Deferred Compensation Plan for Outside Directors of The Southern Company (Deferred Compensation Plan). Each deferred stock unit represents the right to receive one share of Southern Company common stock.
2. Deferred stock units are settled in shares of Southern Company common stock on the date(s) following the termination of the reporting person's service on the Board as specified by the reporting person pursuant to the Deferred Compensation Plan. There is no exercise or expiration date.
3. Includes additional deferred stock units acquired through the dividend reinvestment feature of the Deferred Compensation Plan.
4. Represents quarterly director cash retainer paid under the Southern Company 2021 Equity and Incentive Compensation Plan and deferred pursuant to the Deferred Compensation Plan. Each phantom stock unit represents the right to receive the cash value of one share of Southern Company common stock.
5. Phantom stock units are settled in cash on the date(s) following the termination of the reporting person's service on the Board as specified by the reporting person pursuant to the Deferred Compensation Plan.
6. Includes additional phantom stock units credited to the reporting person's account to reflect dividends paid on common stock prior to settlement pursuant to the Deferred Compensation Plan.
/s/ Brittney Anderson, Attorney-in-Fact for Anthony F. Earley, Jr.07/02/2026
** 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