Michael Innocenzo Form 4 EXELON / Michael Innocenzo ownership change

SEC Form 4

FORM 4

UNITED 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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Innocenzo Michael

(Last) (First) (Middle)

10 S. DEARBORN STREET

54TH FLOOR

(Street)

CHICAGO IL 60603

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
EXELON CORP [ EXC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
CEO of PECO Energy

3. Date of Earliest Transaction (Month/Day/Year)
01/23/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/23/2023		M		24,110	A	(1)	68,721	D
Common Stock	01/23/2023		F		7,738	D	$44.44	60,984	D
Common Stock	01/23/2023		D		11,101	D	$44.44	49,882	D
Common Stock (ESPP Shares)								2,279	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
2023 Restricted Stock Units	$0	01/23/2023		A		6,516		(2)	(2)	Common Stock	6,516	(2)	6,516	D
2022 Restricted Stock Units	$0	01/23/2023		M			2,173	(3)	(3)	Common Stock	2,173(4)	(3)	4,346	D
2021 Restricted Stock Units	$0	01/23/2023		M			2,939	(3)	(3)	Common Stock	2,939(5)	(3)	2,939	D
2020 Restricted Stock Units	$0	01/23/2023		M			2,800	(3)	(3)	Common Stock	2,800(6)	(3)	0	D
Earned Performance RSU	$0	01/23/2023		M			16,198	(7)	(7)	Common Stock	16,198	(7)	0	D
Restricted Stock Unit Award 12/02/2019	$0							(8)	(8)	Common Stock	19,776		19,776	D
Deferred Comp Phantom Shares	$0							(9)	(9)	Common Stock	2,036(9)		2,036	D

Explanation of Responses:

1. Common shares acquired from vested equity awards granted under the Exelon Long-term Incentive Plan (LTIP).

2. Restricted stock unit (RSU) award granted under the Exelon LTIP. Award vests in 1/3 increments at the January or February meeting of the Exelon Compensation Committee with each RSU representing the right to receive one share of Exelon common stock upon vesting. The award accrues quarterly dividend equivalents in the form of additional RSUs representing common stock dividends as approved by the Board, which vest on the same schedule as the underlying RSU award.

3. Vesting of previously granted RSU award under the Exelon LTIP. See footnote #2 for details about the award's terms and vesting schedule.

4. The RSU award acquired 196 additional shares during 2022 through automatic dividend reinvestment.

5. The RSU award acquired 176 additional shares during 2022 through automatic dividend reinvestment.

6. The RSU award acquired 84 additional shares during 2022 through automatic dividend reinvestment.

7. Vesting of previously granted RSU award under the LTIP. This award cliff vests at the January 2023 meeting of the Exelon Compensation Committee with each RSU representing the right to receive one share of Exelon common stock.

8. RSU award granted under the LTIP with each RSU representing the right to receive one share of Exelon common stock upon vesting. Shares will cliff vest on December 2, 2023.

9. Phantom share equivalents held as of December 31, 2022 in the Exelon stock fund within the Exelon Deferred Compensation Plan, which is multi-fund, non-qualified deferred compensation plan. The share equivalents within the fund will be settled in cash upon the reporting person's separation from the company for any reason. The balance includes 62 additional share equivalents accrued during 2022 through automatic dividend reinvestment.

	Elizabeth M. Hensen, Attorney-in-Fact for Michael Innocenzo	01/25/2023
	** Signature of Reporting Person	Date
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