SOJF Amendment: Matthew M. Kim Corrects Ownership, Lists RSUs and Phantom Units
Rhea-AI Filing Summary
Matthew M. Kim, identified as an officer (Comptroller) of Southern Company, reports beneficial ownership of common stock held directly and indirectly. He directly owns 9,087 shares and indirectly holds 2,803.97 shares in a 401(k) account. In addition, Mr. Kim holds restricted stock units and phantom stock units that convert to common shares at settlement: 635, 308, 366.75, and 844 shares from four separate awards, each with specified vesting schedules. The filing is an amendment that corrects the prior total by adding an omitted 78 shares to the reported beneficial ownership. Several awards vest over future years, and certain deferred compensation units were acquired at historical unit prices and pay out in cash upon termination under the plan.
Positive
- Amendment corrected an omission, improving accuracy of beneficial ownership disclosure
- Detailed vesting schedules are provided for restricted stock units, clarifying future settlement timing
- Combination of direct and deferred holdings aligns officer incentives with shareholder value over multiple years
Negative
- Initial report omitted 78 shares, indicating a reporting error that required correction
Insights
TL;DR: Disclosure shows modest officer ownership plus multi-year restricted awards; amendment corrects an omission of 78 shares.
The filing details Mr. Kim's equity position combining direct shares, 401(k) holdings and multiple long-term incentive awards that vest over several years. The restricted stock units and phantom units create potential future dilution only when settled in shares, with vesting staggered through 2027. The corrected omission of 78 shares is immaterial to overall position size but underscores the importance of accurate Section 16 reporting.
TL;DR: Governance disclosure is routine; amendment fixes a reporting lapse but reflects standard executive compensation structures.
The statement reflects typical governance practice: time-based restricted stock and deferred compensation arrangements aligning management with shareholder interests. The amendment indicates a prior reporting oversight that was corrected; while not material in magnitude, timely and accurate filings are important for regulatory compliance and investor transparency. Vesting schedules and settlement terms are explicitly stated, showing predictable future issuance timing.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Southern Co Restricted Stock Units | -- | -- | -- |
| holding | Southern Co Restricted Stock Units | -- | -- | -- |
| holding | Phantom Stock Units | -- | -- | -- |
| holding | Southern Co Restricted Stock Units | -- | -- | -- |
| holding | Southern Company Common Stock | -- | -- | -- |
| holding | Southern Company Common Stock | -- | -- | -- |
Footnotes (5)
- F1. Amendment filed to correct the number of shares beneficially owned as of July 31, 2025. The initial report omitted 78 shares.
- F2. Represents Restricted Stock Units granted on January 31, 2024. The award vested 1/3 on the first anniversary of the grant date. The remaining award will vest 1/3 in 2026 and 1/3 in 2027. Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
- F3. Represents Restricted Stock Units granted on February 1, 2023. The award vested 1/3 on each of the first and second anniversaries of the grant date. The remaining award will vest in 2026. Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
- F4. Acquired on various dates between January 5, 2018 and March 1, 2024 pursuant to the Southern Company Deferred Compensation Plan, at prices ranging from $43.28 to $79.52 per unit, and the dividend reinvestment feature of the plan payable in cash only upon termination.
- F5. Represents Restricted Stock Units granted on February 5, 2025. The award will vest 1/3 per year on the first, second and third anniversaries of grant date. Each restricted stock unit represents the right to receive, at settlement, one share of common stock.
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