Via Renewables, Inc. Files Amendment No. 1 to 2023 10-K

TL;DR

<b>Via Renewables, Inc. has filed an amendment to its 2023 10-K to include Part III information.</b>

AI Summary

Via Renewables, Inc. (VIASP) filed a Amended Annual Report (10-K/A) with the SEC on March 27, 2024. Via Renewables, Inc. filed an amendment (10-K/A) to its annual report for the fiscal year ended December 31, 2023. The amendment's primary purpose is to include information required in Part III (Items 10, 11, 12, 13, and 14). The company's Class A common stock trades on The NASDAQ Global Select Market under the symbol VIA. The company's 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock also trades on The NASDAQ Global Select Market under the symbol VIASP. Via Renewables, Inc. was formerly known as Spark Energy, Inc., with a name change effective April 23, 2014.

Why It Matters

For investors and stakeholders tracking Via Renewables, Inc., this filing contains several important signals. This filing is an amendment, indicating that the original 10-K filing may have been incomplete or required additional disclosures for Part III, which typically covers executive compensation, related party transactions, and corporate governance. The inclusion of specific stock trading information and the company's former name provides context for investors and analysts tracking the company's history and current market presence.

Risk Assessment

Risk Level: low — Via Renewables, Inc. shows low risk based on this filing. The risk is low as this is a routine amendment to a previously filed annual report, not indicating new material adverse events.

Analyst Insight

Monitor for the specific Part III disclosures in the amended filing to understand executive compensation, governance, and related party transactions.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period for the 10-K/A)
• 2024-03-27 — Filing Date (Date of the 10-K/A filing)
• 8.75% — Preferred Stock Rate (Interest rate for Series A Preferred Stock)
• 0.01 — Par Value (Par value per share for common and preferred stock)

Key Players & Entities

• Via Renewables, Inc. (company) — Registrant
• Spark Energy, Inc. (company) — Former company name
• NASDAQ Global Select Market (company) — Exchange where securities are traded
• VIA (company) — Trading symbol for Class A common stock
• VIASP (company) — Trading symbol for preferred stock
• Delaware (company) — State of incorporation

FAQ

Industry Context

Via Renewables, Inc. operates in the energy and utilities sector, specifically focusing on retail electricity services.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit annual reports and other disclosures to the SEC.

What Investors Should Do

1. Review the full amended 10-K filing for detailed Part III disclosures.
2. Analyze executive compensation packages and related party transactions disclosed in the amendment.
3. Compare governance information in the amendment with previous filings to identify any changes.

Key Dates

• 2023-12-31: Fiscal Year End — The period covered by the original 10-K filing.
• 2024-03-27: Filing Date of 10-K/A — The date this amendment was filed with the SEC.
• 2014-04-23: Company Name Change — Date Via Renewables, Inc. was formerly known as Spark Energy, Inc.

Year-Over-Year Comparison

This is an amendment to the 2023 10-K, indicating supplemental information is being provided after the initial filing.

Key Financial Figures

• $0.01 — tered Class A common stock, par value $0.01 per share VIA The NASDAQ Global Select
• $6 — ed on the closing price on that date of $6.96, was approximately $ 17 million. The
• $11.00 — elow), will be acquired by Retailco for $11.00 per share. Retailco is an entity owned

Filing Documents

• spke-20231231.htm (10-K/A) — 639KB
• via-ex311x10xka1021445262x.htm (EX-31.1) — 3KB
• via-ex312x10xka1021445302x.htm (EX-31.2) — 4KB
• 0001606268-24-000011.txt (&nbsp;) — 962KB
• spke-20231231.xsd (EX-101.SCH) — 2KB
• spke-20231231_def.xml (EX-101.DEF) — 23KB
• spke-20231231_lab.xml (EX-101.LAB) — 41KB
• spke-20231231_pre.xml (EX-101.PRE) — 24KB
• spke-20231231_htm.xml (XML) — 8KB

Directors, Executive Officers and Corporate Governance 4

Item 10. Directors, Executive Officers and Corporate Governance 4

Executive Compensation 10

Item 11. Executive Compensation 10

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 29

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 29

Certain Relationships and Related Transactions, and Director Independence 32

Item 13. Certain Relationships and Related Transactions, and Director Independence 32

Principal Accounting Fees and Services 38

Item 14. Principal Accounting Fees and Services 38 PART IV

Exhibits, Financial Statement Schedules 39

Item 15. Exhibits, Financial Statement Schedules 39 SIGNATURES 45 PART III.

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance Directors and Executive Officers Our Board and executive officers are: Name Age Position W. Keith Maxwell, III 59 Chief Executive Officer, Chairman of the Board of Directors, Director Mike Barajas 40 Chief Financial Officer Paul Konikowski 52 Chief Operating Officer Amanda E. Bush (1)(2*)(3) 43 Director Kenneth M. Hartwick (1*)(2)(3) 61 Director Stephen Kennedy (1)(2)(3) 62 Director (1) Member of the Compensation Committee. (2) Member of the Audit Committee. (3) Member of the Nominating and Corporate Governance Committee. * Chair of specified committee Our Board of Directors currently consists of four members. Our directors are divided into three classes serving staggered three-year terms. Each year, the directors of one class stand for re-election as their terms of office expire. Messrs. Maxwell and Hartwick are designated as Class I directors and their terms of office will expire at our Annual Meeting of Shareholders in 2024, if one is held. Ms. Bush is designated as a Class III director, and her term of office will expire at our Annual Meeting of Shareholders in 2026, if one is held. Mr. Kennedy is designated as a Class II director, and his term of office will expire at our Annual Meeting of Shareholders in 2025, if one is held. Set forth below is biographical information about each of our executive officers and directors. W. Keith Maxwell III . Mr. Maxwell has served as our Chief Executive Officer since November 2020, and as a director and non-executive Chairman of the Board of Directors since August 2014. Mr. Maxwell served as interim Chief Executive Officer from March 2020 to November 2020. Mr. Maxwell serves as the Chief Executive Officer of NuDevco Partners, LLC, Retailco, LLC, a Texas limited liability company ("Retailco"), Retailco Services, LLC and National Gas & Electric, LLC, each of which is affiliated with us. Mr. Maxwell served on the Board of Directors of Azure

View Full Filing

View this 10-K/A filing on SEC EDGAR