CONSOLIDATED EDISON INC
For the period ended Apr 8, 2026. Filed Apr 8, 2026.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Apr 8, 2026 · Filed Apr 8, 2026
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934 (Amendment No. )
Filed by Registrant ☑
Filed by Party other than the Registrant ☐
Check the appropriate box:
☐ Preliminary Proxy Statement
☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☑ Definitive Proxy Statement
☐ Definitive Additional Materials
☐ Soliciting Material Pursuant to §240.14a-12
Consolidated Edison, Inc.
(Name of Registrant as Specified in Its Charter)
Payment of Filing Fee (Check the appropriate box):
☑ No fee required.
☐ Fee paid previously with preliminary materials.
☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rule 14a-6(i)(1) and 0-11.
Consolidated Edison, Inc.4 Irving Place, New York, NY 10003Dated: April 8, 2026
Chairman of the Board
Chief Executive Officer
Dear Stockholders:
The Annual Meeting of Stockholders of Consolidated Edison, Inc. with the Board of Directors and the Company’s management is scheduled for Monday, May 18, 2026, at 10:00 a.m., Eastern Daylight Time, remotely by visitingwww.virtualshareholdermeeting.com/ED2026. We encourage stockholders to log into the virtual meeting by following the instructions provided in the proxy materials. The virtual meeting offers the same participation opportunities as an in-person meeting.
The accompanying Proxy Statement, provided to stockholders on or about April 8, 2026, contains information about matters to be considered at the Annual Meeting. At the Annual Meeting, stockholders will be asked to vote on the election of Directors, to ratify the appointment of independent accountants for 2026, and to approve, on an advisory basis, named executive officer compensation. We encourage you to vote in advance of the Annual Meeting, even if you plan to attend.
Based on stockholders’ and our experiences at our recent annual stockholder meetings, held virtually, we believe our virtual meeting format offers stockholders the same opportunities to participate as an in-person meeting and allows us to provide consistent opportunities for engagement to all stockholders, regardless of their geographic location. Therefore, we plan to hold the 2026 Annual Meeting by means of remote communications only.
Sincerely,
Consolidated Edison, Inc.4 Irving Place, New York, NY 10003Dated: April 8, 2026
Notice of Annual Meeting of Stockholders
| Monday, May 18, 2026 at 10:00 a.m., Eastern Daylight Time | Virtual Annual Meeting Website Address: www.virtualshareholdermeeting.com/ED2026 |
Please see the 16-digit voting control number that can be found on your voting instruction form, Notice of Internet Availability of proxy materials or email, as applicable, provided with your proxy materials to access the virtual Annual Meeting website.
| Location: | The 2026 Annual Meeting will be held by means of remote communications only. Based on stockholders’ and our experiences at our recent annual stockholder meetings, held virtually, we believe our virtual meeting format offers stockholders the same opportunities to participate as an in-person meeting and allows us to provide consistent opportunities for engagement to all stockholders regardless of their geographic location. Therefore, we plan to hold the 2026 Annual Meeting by means of remote communications only. |
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| Items of Business: | a.To elect as the members of the Board of Directors the eleven nominees named in the Proxy Statement (attached hereto and incorporated herein by reference); b.To ratify the appointment of PricewaterhouseCoopers LLP as independent accountants for 2026; c.To approve, on an advisory basis, named executive officer compensation; and d.To transact such other business as may properly come before the meeting, or any adjournment or postponement of the meeting. |
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By Order of the Board of Directors,
Sylvia V. Dooley
Vice President and Corporate Secretary
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE STOCKHOLDERS’ MEETING TO BE HELD ON MONDAY, MAY 18, 2026. THE COMPANY’S PROXY STATEMENT AND ANNUAL REPORT, PROVIDED TO STOCKHOLDERS ON OR ABOUT APRIL 8, 2026, ARE AVAILABLE ATWWW.CONEDISON.COM/EN/INVESTORS/SHAREHOLDER-SERVICES
IMPORTANT! Whether or not you plan to attend the meeting, we urge you to vote your shares of Company Common Stock by telephone, by internet, or by completing and returning a proxy card or a voter instruction form, so that your shares will be represented at the Annual Meeting.
Table of Contents
| SUMMARY | ||
|---|---|---|
| Proxy Statement Summary | 1 | |
| ▪ | 2026 Annual Meeting of Stockholders (“Annual Meeting”) | 1 |
| ▪ | Stockholder Voting Matters | 2 |
| ▪ | Corporate Governance Practices | 4 |
| ▪ | Compensation Policies and Governance Practices | 7 |
| PROXY STATEMENT | ||
| Election of Directors | 8 | |
| ▪ | Proposal No. 1 Election of Directors | 8 |
| ▪ | Information About the Director Nominees | 9 |
| ▪ | Skills and Experience of Director Nominees | 10 |
| The Board of Directors | 18 | |
| ▪ | Meetings and Board Members’ Attendance | 18 |
| ▪ | Corporate Governance | 18 |
| ▪ | Leadership Structure | 18 |
| ▪ | Risk Oversight | 19 |
| ▪ | Cybersecurity Risk Oversight | 19 |
| ▪ | Corporate Sustainability | 20 |
| ▪ | Human Capital | 21 |
| ▪ | Proxy Access | 23 |
| ▪ | Related Person Transactions Policy | 23 |
| ▪ | Board Members’ Independence | 24 |
| ▪ | Standing Committees of the Board | 25 |
| ▪ | Selection of Director Candidates | 30 |
| ▪ | Compensation Consultant | 31 |
| ▪ | Communications With the Board of Directors | 31 |
| Stockholder Engagement | 32 | |
| ▪ | Overview | 32 |
| ▪ | Stockholder Engagement Highlights | 33 |
| Director Compensation | 34 | |
| ▪ | Overview | 34 |
| ▪ | Elements of Compensation | 34 |
|---|---|---|
| ▪ | Stock Ownership Guidelines | 35 |
| ▪ | Long Term Incentive Plan | 35 |
| ▪ | Stock Purchase Plan | 35 |
| ▪ | Director Compensation Table | 36 |
| Stock Ownership | 37 | |
| ▪ | Stock Ownership of Directors and Executive Officers | 37 |
| ▪ | Stock Ownership of Certain Beneficial Owners | 38 |
| Independent Accountants Ratification | 39 | |
| ▪ | Proposal No. 2 Ratification of the Appointment of Independent Accountants | 39 |
| ▪ | Fees Paid to PricewaterhouseCoopers LLP | 39 |
| Audit Committee Matters | 40 | |
| ▪ | Audit Committee Report | 40 |
| Advisory Vote | 41 | |
| ▪ | Proposal No. 3 Advisory Vote to Approve Named Executive Officer Compensation | 41 |
| Compensation Discussion and Analysis | 42 | |
| ▪ | Table of Contents | 42 |
| ▪ | Introduction | 43 |
| ▪ | Executive Summary | 44 |
| ▪ | Executive Compensation Philosophy and Objectives | 47 |
| ▪ | Role of Compensation Committee and Others in Determining Executive Compensation | 52 |
| ▪ | Compensation Elements | 53 |
| ▪ | Retirement and Other Benefits | 69 |
| ▪ | Risk Mitigation | 71 |
| ▪ | Tax Deductibility of Pay | 72 |
| Summary Compensation Table | 73 | |
| Grants of Plan-Based Awards Table | 75 | |
| Outstanding Equity Awards Table | 76 | |
| Option Exercises and Stock Vested Table | 77 | |
| Pension Benefits | 78 | |
| ▪ | Pension Plan Benefits | 78 |
| ▪ | Defined Benefit Pension Table | 79 |
| Non-Qualified Deferred Compensation | 80 | |
|---|---|---|
| ▪ | Deferred Income Plan | 80 |
| ▪ | Savings Plan | 80 |
| ▪ | Non-Qualified Deferred Compensation Table | 81 |
| Potential Payments Upon Termination of Employment or Change in Control | 83 | |
| ▪ | Equity Acceleration | 84 |
| ▪ | Incremental Retirement Amounts | 85 |
| ▪ | Termination Without Cause or a Resignation for Good Reason | 85 |
| ▪ | Payments Upon Termination of Employment in Connection With a Change in Control | 85 |
| ▪ | Section 280G Reduction | 86 |
| ▪ | Death Benefit | 86 |
| Compensation Committee Report | 87 | |
| Compensation Risk Management | 88 | |
| Pay Ratio | 89 | |
| Pay Versus Performance | 90 | |
| Delinquent Section 16(a) Reports | 94 | |
| Certain Information as to Insurance and Indemnification | 94 | |
| Questions and Answers About the 2026 Annual Meeting and Voting | 95 | |
| ▪ | Proxy Materials | 95 |
| ▪ | Voting and Related Matters | 96 |
| ▪ | Annual Meeting Information | 97 |
| Stockholder Proposals for the 2027 Annual Meeting | 99 | |
| ▪ | Proposals for Inclusion in 2027 Proxy Statement | 99 |
| ▪ | Director Nominations for Inclusion in 2027 Proxy Statement (Proxy Access) | 99 |
| ▪ | Other Proposals or Nominations to Come Before the 2027 Annual Meeting | 99 |
| Other Matters to Come Before the Meeting | 100 | |
| Appendix A Reconciliation of Non-GAAP Financial Measures | A-1 |
Forward-Looking Statements
This Proxy Statement contains forward-looking statements that are intended to qualify for the safe-harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are statements of future expectations and not facts. Words such as “forecasts,” “expects,” “estimates,” “anticipates,” “intends,” “believes,” “plans,” “will,” "target," "guidance," "potential," "goal," "consider" and similar expressions identify forward-looking statements. The forward-looking statements reflect information available and assumptions at the time the statements are made and speak only as of that time. Actual results or developments might differ materially from those included in the forward-looking statements because of various factors including, but not limited to, those discussed under “Risk Factors,” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025.
Non-GAAP Financial Measures
The materials herein include a discussion of adjusted earnings and adjusted earnings per share, which are financial measures that are not determined in accordance with generally accepted accounting principles in the United States of America (GAAP). Please refer to the table set forth in Appendix A for a reconciliation of the Company's reported net income for common stock to adjusted earnings and reported earnings per share to adjusted earnings per share.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.