Con Edison enters forward sale agreement for 7M shares at $110.81 via JPMorgan

CONSOLIDATED EDISON INC

Forward sale agreement with JPMorgan covers 7,000,000 Common Shares at initial forward price of $110.81 per share.
Settlement expected by December 31, 2026; Con Edison can elect early physical, cash, or net share settlement.
Forward purchaser may accelerate settlement under certain conditions (e.g., inability to borrow shares, regulatory ownership limits).
If physically settled, Con Edison will issue new shares, causing dilution to earnings per share and return on equity.
Underwriting agreement also entered with J.P. Morgan Securities for the concurrent sale of the same 7,000,000 shares.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CONSOLIDATED EDISON INC entered into Forward Sale Agreement with JPMorgan Chase Bank, National Association valued at 7,000,000 of Con Edison’s Common Shares (effective 2026-02-23).

Action: entry
Agreement: equity purchase
Counterparty: JPMorgan Chase Bank, National Association
Value: 7,000,000 of Con Edison’s Common Shares
Effective: 2026-02-23

Exact text from the filing

On February 23, 2026, Consolidated Edison, Inc. (“Con Edison”) entered into a forward sale agreement (the “Forward Sale Agreement”) with JPMorgan Chase Bank, National Association (the “Forward Purchaser”) relating to 7,000,000 of Con Edison’s Common Shares

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CONSOLIDATED EDISON INC filing history →

Source: SEC EDGAR

accession 0001193125-26-071602

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