NRG Energy Files 8-K: Director Changes and Executive Compensation Updates
Ticker: NRG · Form: 8-K · Filed: Aug 1, 2024 · CIK: 1013871
| Field | Detail |
|---|---|
| Company | Nrg Energy, INC. (NRG) |
| Form Type | 8-K |
| Filed Date | Aug 1, 2024 |
| Risk Level | low |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.01, $1,450,000, $3,300,791, $25,000, $10,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, executive-compensation, board-of-directors
TL;DR
NRG Energy filed an 8-K on Aug 1st about board and exec comp changes.
AI Summary
On August 1, 2024, NRG Energy, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation. The filing includes the election of new directors and updates to compensatory arrangements for certain officers, though specific names and dollar amounts related to these changes are not detailed in the provided text.
Why It Matters
Changes in a company's board of directors and executive compensation can signal shifts in strategy, governance, or financial priorities that may impact shareholder value.
Risk Assessment
Risk Level: low — The filing is routine and reports on corporate governance matters without immediate financial implications.
Key Players & Entities
- NRG ENERGY, INC. (company) — Registrant
- August 1, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 910 Louisiana Street (address) — Principal executive offices
- Houston (city) — Principal executive offices
- Texas (state) — Principal executive offices
FAQ
What specific changes were made to the board of directors?
The filing indicates the election of directors and departure of directors, but the specific names of individuals are not provided in the excerpt.
What are the details of the updated compensatory arrangements for certain officers?
The filing mentions updates to compensatory arrangements but does not provide specific details or dollar amounts in the provided text.
What is the purpose of this 8-K filing?
This 8-K filing is to report current information regarding the departure of directors, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as financial statements and exhibits.
When was this report filed?
The report was filed on August 1, 2024.
What is NRG Energy's principal executive office address?
NRG Energy's principal executive office is located at 910 Louisiana Street, Houston, Texas 77002.
Filing Stats: 1,550 words · 6 min read · ~5 pages · Grade level 11.5 · Accepted 2024-08-01 07:08:06
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 NRG New York Stock Exchange Indic
- $1,450,000 — s Dr. Coben to an annual base salary of $1,450,000. For each annual period thereafter, the
- $3,300,791 — with a target grant-date value equal to $3,300,791. For fiscal year 2025, Dr. Coben will b
- $25,000 — financial planning, up to a maximum of $25,000 per year, and reimbursement for legal f
- $10,000 — referenced therein, up to a maximum of $10,000; Eligibility to participate in the Co
Filing Documents
- tm2420624d1_8k.htm (8-K) — 37KB
- tm2420624d1_ex10-1.htm (EX-10.1) — 152KB
- tm2420624d1_ex99-1.htm (EX-99.1) — 10KB
- 0001104659-24-084617.txt ( ) — 412KB
- nrg-20240801.xsd (EX-101.SCH) — 3KB
- nrg-20240801_lab.xml (EX-101.LAB) — 33KB
- nrg-20240801_pre.xml (EX-101.PRE) — 22KB
- tm2420624d1_8k_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers; Election of
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of Lawrence S. Coben as President and Chief Executive Officer On August 1, 2024, NRG Energy, Inc. (the "Company") announced that Lawrence S. Coben, most recently Interim President and Chief Executive Officer of the Company, was appointed President and Chief Executive Officer effective August 1, 2024. Dr. Coben will continue in his capacity of Chair of the Board. Information about Dr. Coben can be found in and is incorporated into this Item 5.02 by reference to the Company's Definitive Proxy Statement for the 2024 Annual Meeting of Stockholders filed with the Securities and Exchange Commission on March 15, 2024. There is no family relationship between Dr. Coben and any director or executive officer of the Company and Dr. Coben does not have a direct or indirect material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K. There are no arrangements or understandings between Dr. Coben and any other persons pursuant to which he was selected as the Company's President and Chief Executive Officer. Compensation Arrangements and Employment Agreement with Lawrence S. Coben In connection with his appointment, Dr. Coben entered into an Employment Agreement (the "Employment Agreement") with the Company on August 1, 2024, pursuant to which Dr. Coben will continue to serve as the Company's President and Chief Executive Officer for the term beginning on August 1, 2024 and ending on the date that his employment is terminated by either party in accordance with the Employment Agreement. During Dr. Coben's term of employment, the Company will use its reasonable efforts to cause Dr. Coben to be elected to the Company's Board of Directors (the "Board"). The Employment Agreement entitles Dr. Coben to an annual base salary of $1,450,000. For each annual
01 Financial Statement and Exhibits
Item 9.01 Financial Statement and Exhibits (c) Exhibits: Exhibit No. Description 10.1 Employment Agreement, dated August 1, 2024, by and between NRG Energy, Inc. and Lawrence S. Coben 99.1 Press release dated August 1, 2024 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the iXBRL document. 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NRG Energy, Inc. (Registrant) Dated: August 1, 2024 By: /s/ Christine A. Zoino Christine A. Zoino Corporate Secretary 4