AEP enters forward sale agreements for 23.5M shares at $124.97/sh

AMERICAN ELECTRIC POWER CO INC

Forward sale agreements with BofA, Goldman Sachs, Morgan Stanley for 20.47M shares; underwriters exercised option for additional 3.07M shares (total 23.54M).
Initial forward price $124.968/sh; physical settlement expected on or before May 31, 2028, subject to adjustments.
Proceeds only received upon physical settlement; company may elect cash or net share settlement under certain conditions.
Forward purchasers can accelerate settlement if unable to hedge or upon certain dividend/merger events.
Agreements automatically terminate upon bankruptcy; no proceeds or shares issued if terminated.

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