[Form 4] The Southern Company Insider Trading Activity

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Southern Company (SO) 鈥� Form 4 insider activity

Director Lizanne Thomas reported two transactions dated 07/01/2025. She disposed of 700 common shares of Southern Company (transaction code 鈥淒鈥�) and simultaneously acquired 460.455 Deferred Stock Units (鈥淒SUs鈥�) through the company鈥檚 Deferred Compensation Plan at a reference value of $92.30 per unit. The DSUs carry no exercise or expiration date and are payable only in stock upon the director鈥檚 termination of service. After the transaction she holds 5,645.8418 DSUs directly.

The estimated market value of the sale and accrual (both roughly mid-$40 k) is negligible relative to Southern Company鈥檚 multi-billion-dollar equity base, indicating a routine, non-material compliance filing rather than a directional signal. The filing does not note use of a Rule 10b5-1 trading plan, and no additional equity compensation or option exercises were disclosed.

Insights

TL;DR Small insider sale offset by DSU accrual; net impact on SO shares and sentiment is neutral.

The reported 700-share sale equates to less than 0.0001% of Southern Company鈥檚 outstanding stock and therefore lacks quantitative significance. Simultaneous acquisition of 460.455 DSUs under the deferred-compensation plan increases long-term alignment with shareholders, partially neutralising any negative optics of the sale. No price data for the share disposition is provided, suggesting a routine portfolio adjustment rather than a valuation call. Overall, the filing is non-impactful to the investment thesis and should not alter valuations or portfolio positioning.

07/02/2025 - 11:43 AM

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Thomas Lizanne

(Last)

(First)

(Middle)

30 IVAN ALLEN JR. BLVD., NW

(Street)

ATLANTA

30308

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SOUTHERN CO [ SO ]

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

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Southern Company Common Stock Holding								700	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Deferred Stock Units Holding⁽¹⁾	$0	07/01/2025		A		460.455		⁽¹⁾	⁽¹⁾	Southern Company Common Stock	460.455	$92.3	5,645.8418	D

Explanation of Responses:

1. Acquired pursuant to Southern's Deferred Compensation Plan, payable in stock only upon termination. There is no exercise or expiration date.

	/s/ J. Patrick Becker, Attorney-in-Fact for Lizanne Thomas	07/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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