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On 31 Jul 2025 Exelon Corporation (EXC) filed a Form 8-K under Items 2.02, 7.01 and 9.01. The company furnished—not filed—its second-quarter 2025 results via Exhibit 99.1 (press release) and Exhibit 99.2 (slide deck). A live earnings call is scheduled for 9:00 AM CT / 10:00 AM ET on the same day, with registration available through Exelon’s investor-relations site; a replay will be posted. No financial metrics, guidance figures or qualitative commentary appear in the body of the 8-K itself; investors must review the attached exhibits for detailed performance. Standard forward-looking-statement disclaimers are included, and the report is being furnished individually by Exelon and each of its utility subsidiaries (ComEd, PECO, BGE, Pepco Holdings, Potomac Electric Power, Delmarva Power & Light and Atlantic City Electric). Because the information is furnished, it will not be incorporated by reference into future SEC filings.

Form 4 insider activity � Exelon Corporation (EXC): On 06/30/2025 director Bryan K. Segedi acquired 954 deferred stock units of Exelon common stock at $43.25 each through the Exelon Corp. Directors Deferred Stock Unit Plan. The purchase increased his indirect holdings to 6,483 units, a figure that already includes 51 shares accumulated via dividend reinvestment. No shares were sold and no derivative positions were reported.

The transaction is valued at roughly $41k, immaterial to Exelon’s overall share count, but may signal incremental insider confidence. There are no indications of significant strategic shifts, option exercises, or complex hedging instruments in this filing.

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is marketing an Autocallable Contingent-Coupon Equity-Linked Security maturing 14 July 2027. The unsecured note offers an annualised contingent coupon of �12.20% (�1.0167% per monthly period) but payments are made only when the worst-performing underlying � Energy Select Sector SPDR (XLE), Nasdaq-100 Index (NDX) or Russell 2000 Index (RUT) � closes on a valuation date at or above 70 % of its initial level (coupon barrier).

Early redemption (autocall) can occur on 18 monthly dates beginning 9 Jan 2026 if the worst performer is at or above its initial level, returning US$1,000 + accrued coupon. This feature caps the maximum holding period and may truncate income should markets trend positively.

If the note survives to maturity, investors receive:

• Par (US$1,000) + final coupon if the worst performer is â‰�70 % of initial level.
• Principal repayment reduced 1-for-1 with the worst performer’s decline if it is <70 %; loss of up to 100 % of principal is possible.

Key economic terms:

• Issue price: US$1,000; estimated value on pricing date: ≥U³§$935.
• Underwriting fee: US$4.50 per note; proceeds to issuer: ≈US$995.50.
• No exchange listing; liquidity depends on Citigroup Global Markets Inc.’s discretionary secondary market.
• CUSIP/ISIN: 17333LGJ8 / US17333LGJ89.

Risk highlights include: (1) exposure to the full downside of the worst performer below 70 %, with no participation in any upside of any index, (2) contingent coupons may never be paid, (3) potential early call limits total return, (4) credit risk of Citigroup Global Markets Holdings Inc. and Citigroup Inc., (5) complex tax treatment and possible 30 % withholding for non-U.S. holders, and (6) estimated value below issue price due to fees, hedging and Citi’s internal funding rate.

The structure suits income-seeking investors who are willing to accept equity-market downside, liquidity constraints and issuer credit risk in exchange for above-market coupons. It is inappropriate for those requiring principal protection or simple exposure to index appreciation.

Exelon Corp. (EXC) â€� Form 4 insider activity

Director Anna Richo reported two transactions dated 30-Jun-2025:

• 954 deferred stock units acquired at an implied price of $43.25 under the Directors Deferred Stock Unit Plan, raising her indirect holding in that plan to 8,320 units.
• 719 deferred phantom share equivalents credited at an implied value of $43.42 within a non-qualified deferred-compensation account, increasing the direct balance of phantom units to 6,334.

The filing also notes routine accruals from dividend reinvestment (68 common shares) and phantom units (50 equivalents). All instruments will ultimately settle in cash or shares upon the director’s board service termination. No dispositions were reported.

The aggregate value of the reported acquisitions is modest relative to Exelon’s market capitalization, but insider accumulation may be viewed as a minor vote of confidence.

On 06/30/2025, Exelon Corporation (EXC) director Charisse R. Lillie filed a Form 4 disclosing the acquisition of 954 deferred stock units (DSUs) at an implied price of $43.25 each through the company’s Directors Deferred Stock Unit Plan. Her indirect DSU balance increased to 9,505 units. The filing also shows 7,246 shares of common stock held directly and 3,752 phantom share equivalents in a non-qualified deferred compensation plan. The transaction represents routine board compensation rather than an open-market purchase and is unlikely to have a material impact on Exelon’s share count or market perception.

Cannae Holdings, Inc. (CNNE) Form 4 highlights

Director Tyler Woodrow reported the acquisition of 248 common shares on 06/30/2025 under the company’s Director Retainer Election Program. The transaction is coded “A�, indicating a non-open-market award. At the indicated price of $20.85 per share, the grant is valued at roughly $5.2 thousand. After this award, Woodrow’s direct beneficial ownership rises to 4,215 shares. No derivative securities or additional transactions were disclosed.

The filing represents routine board compensation and is immaterial relative to Cannae’s total share count, implying limited immediate impact on the company’s valuation or trading dynamics.

Form 4 Overview � LQR House Inc. (LQR)

Chief Executive Officer and director Sean Dollinger reported the conversion of 89 restricted stock units (RSUs) into an equal number of LQR House Inc. common shares on 30 June 2025. The RSUs were granted on 9 August 2023 and were adjusted for three share-split actions (1-for-60 reverse split on 30 Nov 2023, 3:2 stock dividend on 1 Mar 2024, and 1-for-35 reverse split on 21 Apr 2025).

Following the transaction, Dollinger directly owns 2,832 common shares and retains 90 RSUs that remain unconverted. The transaction code “M� indicates a conversion of a derivative security (RSU) without an open-market purchase or sale and at a stated price of $0, consistent with equity incentive awards.

• Insider role: CEO & Director
• Shares acquired: 89 (no cash consideration)
• Post-transaction ownership: 2,832 common shares (direct) + 90 RSUs (derivative)
• Form filed: Single-reporting person submission dated 2 July 2025

The transaction is routine equity compensation administration and does not, by itself, signal a change in strategic outlook or financial performance. The extremely small share count (relative to public float) limits market impact.

Royal Bank of Canada (RY) is issuing $1.122 million in Capped Return Dual Directional Buffer Notes linked to the S&P 500 Index, maturing July 6 2027. The structured notes form part of the Bank’s Senior Global Medium-Term Notes, Series J, and are offered at par in $1,000 denominations.

Key economics

• Participation rate: 100% of positive S&P 500 performance, capped at 18.50% (maximum maturity payout = $1,185).
• Dual-direction feature: If the index declines by â‰�15%, investors receive a positive return equal to the absolute index move (max 15%).
• Buffer: First 15% downside protected. Beyond that, principal loses 1% for every 1% drop in the index.
• Coupon/interest: None â€� all value realised at maturity.
• Initial index level: 6,204.95; Buffer level: 5,274.21.
• Credit risk: Senior unsecured obligation of RBC; no CDIC/FDIC insurance; not “bail-inable.â€�
• Liquidity: Not exchange-listed; secondary market making discretionary by RBC Capital Markets (RBCCM).
• Pricing: Public offer price 100%. Initial estimated value: $983.33 (reflects hedging costs, internal funding spread and fees).
• Fees: 0.031% underwriting discount (~$350 total) plus selling concessions â‰�$5 and referral fees â‰�$8 per $1,000.

Illustrative pay-out scenarios

• If S&P 500 rises â‰�18.5%, payoff capped at $1,185 (18.5% gain).
• If index declines 10%, payoff $1,100 (10% gain).
• If index declines 50%, payoff $650 (35% loss).

Principal risks highlighted

• Potential loss of principal beyond 15% downside.
• Returns limited on both upside (18.5%) and downside (absolute value feature only to -15%).
• No periodic interest; opportunity cost versus conventional debt.
• Market value likely below issue price; limited or no secondary liquidity.
• Subject to RBC credit risk; adverse credit perceptions can depress note pricing.
• Tax treatment uncertain; notes treated as prepaid financial contracts (open transactions) but IRS could disagree.

The offering is modest relative to RBC’s balance sheet and has negligible impact on the issuer’s overall capital position. For investors, the notes provide conditional equity exposure with capped upside, partial downside protection and full issuer credit exposure.

Form 4 filing for Exelon Corp. (EXC) discloses that director William P. Bowers increased his equity exposure on 30 June 2025.

• Deferred stock units: 954 units acquired at $43.25 each through the Exelon Directors Deferred Stock Unit Plan, lifting his indirect balance to 16,734 units.
• Phantom share equivalents: 1,594 equivalents credited at an implied price of $43.42, bringing his direct derivative balance to 15,163 equivalents.
• The filing notes an additional 145 common shares and 121 phantom equivalents previously added via the plan’s dividend-reinvestment mechanism.
• All phantom equivalents settle for cash on a 1-for-1 basis when Bowers leaves the board.

No open-market purchases or sales were reported; the activity stems from board compensation and reinvestment features.