Equity

3 Months Ended

Mar. 31, 2024

Equity

Equity

Note 13. Equity

Common Stock Issuances

As of March 31, 2024, Edison International had not issued any shares through its "at-the-market" ("ATM") program established in August 2022. Under the ATM program, Edison International may sell shares of its common stock having an aggregate sales price of up to $500 million. Edison International has no obligation to sell the remaining shares available under the ATM program.

Edison International continued to settle its ongoing common stock requirements of various internal programs through issuance of new common stock. During the three months ended March 31, 2024, 661,530 shares of common stock were issued as stock compensation awards for net cash receipts of $18 million, 70,246 shares of new common stock were issued in lieu of distributing $5 million to shareholders opting to receive dividend payments in the form of additional common stock, 43,300 shares of common stock were issued to employees through the 401(k) defined contribution savings plan for net cash receipts of $3 million as dividend payments and 31,112 shares of common stock were issued to employees through the Employee Stock Purchase Plan for net cash receipts of $2 million.

Preferred Stock

In March 2024, Edison International repurchased 20,000 shares of its Series B Preferred Stock on the open market at an average price of $952 per share, including accrued and unpaid dividends for an aggregate amount of $19 million. Edison International recognized a net gain of $1 million from the open market repurchase, reflected in "Preferred stock dividend requirements of Edison International" on the consolidated statements of income.