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Insider Trends: Insider at Southern Co Acquires Stock Via Option/Derivative Security, Sells Portion to Pay Tax, Selling Trend Continues

· 02/05/2021 12:32

05:21 PM EST, 02/05/2021 (MT Newswires) -- On Feb 03, 2021, William P Bowers, Chairman & CEO, Gpc, exercised options/derivative securities for 5,077 shares of Southern Co (SO) and sold 2,354 shares in the company for $139,945 to meet tax obligations. After accounting for tax obligations this transaction resulted in a net acquisition of 2,723 company shares. Subsequent to the Form 4 filing with the SEC, Bowers has control over 179,013 shares of company stock of which 161,165 shares are held directly and 17,848 are controlled indirectly. These holdings have an approximate market value of $10.80 million as of the prior-day closing price. Additionally, Bowers has been granted 9,732 stock options by the company which are in the money and carry a value of approximately $587,229 as of yesterday's closing price.

In the 90 days previous to the date of this filing, there have been 16 insider transactions reported to the SEC for Southern Co. These transactions came from the activities of 8 separate insiders that resulted in a net disposition of 29,834 company shares. In the preceding 90-day window of time, there were 6 transactions from 4 insiders which 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. Peer group activity averaged 106.5 transactions per company, with company insiders acquiring on average 18,031 shares.

SEC Story Link http://www.sec.gov/Archives/edgar/data/92122/000120919121008194/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.