Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 234

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 8
Chunk 234
---
866$89.4692December 31, 2026    1,849,629(b)    $90.6617(b)December 31, 2026(a)The total number of shares sold under this forward sale contract is 436,614, of which the first 143,920 shares were sold in December 2024.(b)The total number of shares sold under this forward sale contract is 3,850,000, of which the remaining 2,000,371 shares were sold subsequent to June 30, 2025. The initial forward price was determined after the completion of sales by the forward seller in July 2025.As of June 30, 2025, Southern Company had entered into separate forward sale contracts with forward purchasers for a total of 25,093,562 shares of common stock, of which 23,093,191 shares had been sold by the forward sellers, and no shares had been settled under the forward sale contracts.Each initial forward price is subject to adjustment under certain circumstances as specified in the forward sales contract. Southern Company may settle these forward transactions in shares, cash, or net shares.

Earnings per ShareFor Southern Company, the only difference in computing basic and diluted earnings per share (EPS) is attributable to awards outstanding under stock-based compensation plans, forward sale contracts pursuant to the equity distribution agreement, and convertible senior notes. EPS dilution resulting from stock-based compensation plans and the forward sale contracts is determined using the treasury stock method, and EPS dilution resulting from the convertible senior notes is determined using the net share settlement method. See "Convertible Senior Notes" and "Equity Distribution Agreement" herein and Note 8 to the financial statements under "Convertible Senior Notes" 

64

    Table of Contents                                Index to Financial StatementsNOTES TO THE CONDENSED FINANCIAL STATEMENTS (Continued)(UNAUDITED)

and "Equity Distribution Agreement" and Note 12 to the financial statements in Item 8 of the Form 10-K for additional information. Shares used to compute diluted EPS were as follows:Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in millions)As reported shares1,101 1,096 1,100 1,095 Effect of stock-based compensation6 6 6 6 Effect of convertible senior notes1 — 1 — Diluted shares1,108 1,102