Insider Trading Duke Energy's Code of Business Ethics

Duke Energy's success in the marketplace requires that we maintain the trust and confidence of the investment community. Duke Energy employees must act with integrity when trading public securities, adhering to all applicable laws.

Insider trading may occur when you:

  • Know material non-public information about Duke Energy or any company with whom Duke Energy has a business relationship, and
  • Buy, sell, short-sell or otherwise trade a company's securities, such as stocks, bonds or options while in possession of that information or tell others about it before it is made public.

"Material non-public information" is information that would affect a reasonable investor's decision on whether or not to invest in a company's securities. Examples include, but are not limited to:

  • Plans to issue securities
  • Sharp changes in earnings patterns
  • Changes in dividend rates
  • Changes in key management personnel
  • Mergers and acquisitions
  • Important regulatory actions affecting the company.

Circumstances suggesting the possibility of insider trading may result in an investigation by a stock exchange or by governmental authorities. Such an investigation could damage Duke Energy's brand and reputation and result in liabilities or penalties, including criminal charges and/or fines against the employee.

Our Responsibilities

Duke Energy employees are expected to be very careful when trading securities, even the Duke Energy securities in our retirement accounts, to make sure that trades are not made while in possession of material non-public information.

Duke Energy employees must not:

  • Trade the securities of Duke Energy while in possession of material non-public information about Duke Energy or any affiliate or subsidiary.
  • Trade the securities of Duke Energy or those of its suppliers, customers or other companies with whom Duke Energy has a business relationship while in possession of material non-public information relating to them.
  • Trade the securities of Duke Energy (or of an applicable outside company) until the third business day after any material non-public information of which we are aware has been made available to the public. This includes transfers into and out of the Duke Energy stock fund in our savings plans, and changes in patterns involving purchases of Duke Energy securities within the plans. (Regularly scheduled monthly purchases of Duke Energy securities within plans are not prohibited.)
  • Give material non-public information to anyone not authorized to have that information, including other Duke Energy employees. If that information is subsequently used by the person to trade on securities, it is considered illegal "tipping" and is a violation of insider trading laws. Even a casual remark to a friend or family member may find its way to a broker and eventually to the entire financial community, thereby requiring the company to make a premature or unplanned public announcement.

Q&A

Q: I am a financial professional and often talk about business with my spouse. That's not a problem, is it? I only occasionally reveal non-public information and my spouse knows not to tell anyone else.
A: This is a problem that could be costly for both you and the company. If your spouse were ever to use material non-public information given by you to buy or sell securities, both of you could be prosecuted for illegal insider trading. You should not give any non-public information to your spouse or to others.