EXC · 10-Q · 2026Q3 · Full report

Equity Distribution Agreement

EXELON CORP · 2026-10-30 · Importance 48 · Surprise 42 · No source text

Exelon's ATM program permits gross common-stock sales of up to $2.5 billion through May 2, 2028. Exelon issued 8.7 million shares in the second quarter of 2026 at a weighted-average net price of $44.03 and 2.3 million shares in the third quarter at $43.29; proceeds were for general corporate purposes. As of September 30, 2026, $1.0 billion of common stock remained available for sale under the program, inclusive of forward sale agreements.

Key facts

• On May 2, 2025, Exelon established an ATM equity distribution program allowing it to offer and sell common stock with aggregate gross sales price up to $2.5 billion through May 2, 2028.
• Exelon entered into a forward sale agreement in Q1 2026 covering 5.4 million shares at a weighted-average net price of $47.67, maturing July 30, 2027.
• Exelon entered into a forward sale agreement in Q1 2026 covering 6.4 million shares at a weighted-average net price of $48.68, maturing September 2, 2027.
• As of September 30, 2026, $1.0 billion of common stock remained available for sale under Exelon’s ATM program, including the impact of forward sale agreements.
• In the third quarter of 2026, Exelon issued approximately 2.3 million common shares at a weighted-average net price of $43.29 per share, generating $101 million in net proceeds for general corporate purposes.
• Exelon issued 8.7 million shares under the ATM program in Q2 2026 at a weighted-average net price of $44.03 per share.
• Forward sale agreements entered into under Exelon’s ATM program in Q3 2025 covered 11.5 million shares at a weighted-average net price of $43.73 and matured December 15, 2026.
• In Q2 2026, Exelon settled all forward sale agreements maturing November 16, 2026, and a portion of agreements maturing December 15, 2026 and July 30, 2027.

Impact estimates