FirstEnergy Reports Executive Changes and Compensation Arrangements

TL;DR

**FirstEnergy just filed an 8-K about executive changes and compensation, so keep an eye on leadership shifts!**

AI Summary

FIRSTENERGY CORP filed an 8-K on February 16, 2024, reporting events from February 14, 2024, concerning the departure or election of directors or officers and compensatory arrangements. The filing indicates changes in leadership or executive compensation, which are standard disclosures for public companies. The company, an Ohio Corporation, is identified with IRS Employer File Number 34-1843785 and is headquartered at 76 South Main Street, Akron, OH 44308.

Why It Matters

This filing signals potential shifts in FirstEnergy's leadership or executive compensation structure, which could influence future strategic decisions and financial performance.

Risk Assessment

Risk Level: low — This 8-K is a routine disclosure about executive changes and compensation, not indicating immediate financial distress or major operational risks.

Key Players & Entities

• FIRSTENERGY CORP (company) — Registrant
• February 14, 2024 (date) — Date of earliest event reported
• February 16, 2024 (date) — Filing date
• 34-1843785 (dollar_amount) — IRS Employer File Number
• 76 South Main Street, Akron, OH 44308 (company) — Business Address

FAQ

Key Financial Figures

• $0.10 — ange on which registered Common Stock, $0.10 par value per share FE New York Stock E

Filing Documents

• fe-20240214.htm (8-K) — 33KB
• fe-20240214_g1.jpg (GRAPHIC) — 3KB
• 0001031296-24-000012.txt ( ) — 180KB
• fe-20240214.xsd (EX-101.SCH) — 2KB
• fe-20240214_def.xml (EX-101.DEF) — 3KB
• fe-20240214_lab.xml (EX-101.LAB) — 26KB
• fe-20240214_pre.xml (EX-101.PRE) — 14KB
• fe-20240214_htm.xml (XML) — 3KB

From the Filing

fe-20240214 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): February 14, 2024 Commission Registrant; State of Incorporation; I.R.S. Employer File Number Address; and Telephone Number Identification No. 333-21011 FIRSTENERGY CORP 34-1843785 (An Ohio Corporation) 76 South Main Street Akron OH 44308 Telephone (800) 736-3402 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.10 par value per share FE New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 14, 2024, at the recommendation of the Corporate Governance, Corporate Responsibility and Political Oversight Committee, the FirstEnergy Corp. ("FirstEnergy" or the "Company") board of directors (the "Board") appointed Heidi Boyd to serve as a director of the Company, effective February 16, 2024. Ms. Boyd has been appointed to serve for a term expiring at the Company's 2024 Annual Meeting of Shareholders and until her successor shall have been elected. Ms. Boyd was nominated p ursuant to the terms of that certain Common Stock Purchase Agreement entered into as of November 6, 2021, between the Company and BIP Securities II-B L.P., an affiliate of Blackstone Infrastructure Partners L.P. ("Blackstone"), following the notice of resignation by Sean Klimczak, Blackstone's previous director nominee (as previously disclosed in the Company's Form 10-K filed on February 13, 2024). Ms. Boyd is a Senior Managing Director in the Infrastructure Group of Blackstone, Inc., a global investment firm, where she focuses primarily on investments in the utilities and transportation sectors. Ms. Boyd has been a private equity investor in infrastructure businesses for nearly 15 years. She started her career at Boston Consulting Group and subsequently worked at Macquarie Infrastructure and Real Assets before joining Blackstone, Inc. in 2018. Ms. Boyd has served as a director at Carrix, Inc. (a private global ports operator) since 2021 where she is a member of the Environmental Social Governance Committee and the Chair of the Audit Committee. Ms. Boyd has also held directorships and board observer roles at Atlantic Power Transmission, LLC (a private company dedicated to constructing and operating planned transmission systems to enable the interconnection of U.S. offshore wind facilities), Northern Indiana Public Service Company (a natural gas and electric utility), and other transportation and utility businesses. Ms. Boyd will not receive compensation for her service on the Board pursuant to arrangements with Ms. Boyd and Blackstone. As of the date of this Current Report on Form 8-K, the Board had not determined Ms. Boyd's Board committee assignments. In accordance with Instruction 2 to Item 5.02 of Form 8-K, the Company intends to file an amendment to this Current Report on Form 8-K if and when such information is available. The Company entered into a Director and Officer Indemnification Agreement with Ms. Boyd as of February 16, 2024, substantially in the form of the Director and Officer Indemnification Agreement previously filed with the SEC on May 16, 2018, as Exhibit 10.1 to the Company's Current Report on Form 8-K, which is incorporated herein by reference. Forward-Looking Statements: This Form 8-K includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-look

View Full Filing

View this 8-K filing on SEC EDGAR