Company: SOJE
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0000092122-25-000088
Chunk: 10

Company: SOUTHERN CO
Filing Date: 2025-11-03
Form: 424B5
Chunk 10
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 denominations of $1,000 and integral multiples of $1,000. You will own the undivided beneficial ownership interest in the RSNs comprising part of each of your Corporate Units, but the RSNs will be pledged to the Company through the collateral agent to secure your obligation under the related purchase contract.

Upon a successful optional remarketing (as described under “What is an optional remarketing?”), the RSNs comprising part of the Corporate Units will be replaced by the Treasury portfolio described below under “What is the Treasury portfolio?”. Once replaced, the applicable ownership interest in the Treasury portfolio will be pledged to the Company through the collateral agent to secure your obligation under the related purchase contract.

#### What is a purchase contract?
Each purchase contract, whether part of a Corporate Unit or Treasury Unit, obligates you to purchase, and obligates the Company to sell, on December 15, 2028, or if such day is not a business day, the following business day (which is referred to as the “purchase contract settlement date”), for $50 in cash, a number of shares of the Company’s common stock equal to the “settlement rate.” You may satisfy your obligation to purchase the Company’s common stock under the purchase contracts as described under “How can I satisfy my obligation under the purchase contracts?” below.

The settlement rate will be calculated (subject to adjustment under the circumstances set forth in “Description of the Purchase Contracts—Anti-dilution Adjustments” and “Description of the Purchase Contracts—Early Settlement Upon a Fundamental Change”) as follows:

• if the applicable market value (as defined below) of the Company’s common stock is equal to or greater than the “threshold appreciation price” of $ , the settlement rate will be shares of the Company’s common stock (this settlement rate is referred to as the “minimum settlement rate”);

• if the applicable market value of the Company’s common stock is less than the threshold appreciation price but greater than the “reference price” of $ , which will be the closing price of the Company’s common stock on the New York Stock Exchange on the date the Equity Units are priced, the settlement rate will be a number of shares of the Company’s common stock equal to $50 divided by the applicable market value, rounded to the nearest ten thousandth of a share; and

• if the applicable market value of the Company’s common stock is less than or equal to the reference price, the settlement rate will be shares of the Company’s common stock (this settlement rate