Exelon Director Marjorie Rodgers Cheshire Receives Phantom Shares Under Deferred Compensation Plan

Executive Summary

On October 1, 2026, Exelon Corp ($EXC) filed a Form 4 disclosing that Director Marjorie Rodgers Cheshire acquired 511 deferred phantom share equivalents on September 30, 2026. The acquisition was executed at a price of $40.40 per share, representing a total value of $20,644.40.

Transaction Details

• Security: Deferred phantom share equivalents
• Transaction Code: A (Grant, award, or other acquisition)
• Units Acquired: 511
• Price per Unit: $40.40
• Total Transaction Value: $20,644.40
• Direct/Indirect: Direct
• Post-Transaction Beneficial Ownership: 11,162 units (including 105 units accumulated via automatic dividend reinvestment)

Context & Plan Structure

The phantom shares were credited under the reporting person's Exelon stock fund account within a multi-fund, non-qualified deferred compensation plan. Under the terms of the plan, these phantom share equivalents are settled in cash on a 1-for-1 basis following the conclusion of the director's board service.

Market & Trading Significance

This transaction carries Low trading significance. It represents routine quarterly board compensation paid in deferred phantom equity rather than an open-market purchase or discretionary sale reflecting sentiment regarding the company's near-term outlook.