SPY381.42-5.12 -1.32%
DIA312.99-1.20 -0.38%
IXIC12,997.75-361.04 -2.70%

Insider Trends: Insider Acquires Southern Co Stock Via Option/Derivative Security, Sells Part to Pay Tax, Trend of Selling Intact

· 02/05/2021 12:07

04:59 PM EST, 02/05/2021 (MT Newswires) -- On Feb 03, 2021, Thomas A Fanning, President, CEO & Chairman, exercised options/derivative securities for 14,732 shares of Southern Co (SO) and sold 6,683 shares in the company for $397,304 to meet tax obligations. After accounting for tax obligations this transaction resulted in a net acquisition of 8,049 company shares. Subsequent to the Form 4 filing with the SEC, Fanning has control over 640,893 shares of the company of which 627,392 shares are held directly and 13,501 are controlled indirectly. These holdings have an approximate market value of $38.7 million as of the prior-day closing price. Additionally, Fanning has been granted 28,247 stock options by the company which are in the money and carry a value of approximately $1,704,424 as of yesterday's closing price.

Over the last 90 days, previous to the date of this filing, there have been 8 insider transactions reported to the SEC for Southern Co. These transactions came from the activities of 5 individual insiders that resulted in a net disposition of 43,197 company shares. In the preceding 90-day window of time, there were 6 transactions from 4 insiders and resulted in the net disposition of 21,916 shares.

This level of insider transactions is below that of the peer group average in the 76-company Electric Utilities peer group over the last 90-day period. Activity in the peer group averaged 106.3 transactions per company, with company insiders acquiring on average 18,024 shares.

SEC Story Link http://www.sec.gov/Archives/edgar/data/92122/000120919121008147/xslF345X03/doc4.xml

This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.