<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2022-03-31</periodOfReport>

    <issuer>
        <issuerCik>0001109357</issuerCik>
        <issuerName>EXELON CORP</issuerName>
        <issuerTradingSymbol>EXC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001621713</rptOwnerCik>
            <rptOwnerName>Cheshire Marjorie Rodgers</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>10 S. DEARBORN STREET</rptOwnerStreet1>
            <rptOwnerStreet2>54TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60603</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock (Deferred Stock Units)</value>
            </securityTitle>
            <transactionDate>
                <value>2022-03-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>889</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>43.60</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7563</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Exelon Directors' Deferred Stock Unit Plan</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Deferred Compensation - Phantom Share Equivalents</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2022-03-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>304</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>47.63</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>304</value>
                    <footnoteId id="F3"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2546</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Balance includes 51 shares acquired on March 10, 2022 through automatic dividend reinvestment.</footnote>
        <footnote id="F2">In connection with the separation of Constellation Energy Corp. (Constellation) from Exelon effective February 1, 2022 (the Spin-Off), the balance of deferred stock units immediately prior to the Spin-Off was adjusted to preserve the overall value of the account balance post-Spin-Off.  As a result the deferred stock unit balance was increased by an additional  1,599 units.   Such adjustment is exempt from Section 16 of the Securities Exchange Act of 1934, as amended (the Exchange Act) pursuant to Rule 16a-9 under the Exchange Act.</footnote>
        <footnote id="F3">Phantom share equivalents in the reporting person's Exelon stock fund account that is part of a multi-fund, non-qualified deferred compensation plan and that will be settled in cash on a 1 for 1 basis upon the termination of the reporting person's service. Balance also reflects 13 share equivalents accrued on February 24, 2022 through automatic dividend reinvestment.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Elizabeth M. Hensen, Attorney in Fact for Marjorie Rodgers Cheshire</signatureName>
        <signatureDate>2022-04-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
