AEP CFO Brian Kelley Resigns; COO Takes Interim Role

TL;DR

AEP's CFO Brian Kelley is out, COO David Sweet steps in as interim CFO, no funny business alleged.

AI Summary

On June 17, 2024, American Electric Power Company, Inc. (AEP) filed an 8-K report to disclose the resignation of its Chief Financial Officer, Brian X. Kelley, effective June 17, 2024. The company also announced that its Executive Vice President and Chief Operating Officer, David M. Sweet, will assume interim CFO duties. AEP stated that Kelley's departure was not related to any disagreements regarding accounting or financial matters.

Why It Matters

The unexpected departure of a CFO can create uncertainty for investors regarding financial strategy and stability, potentially impacting the company's stock price.

Risk Assessment

Risk Level: medium — The resignation of a CFO, even without stated disagreements, can introduce uncertainty and potential leadership changes that may affect investor confidence.

Key Players & Entities

• American Electric Power Company, Inc. (company) — Registrant
• Brian X. Kelley (person) — Chief Financial Officer
• David M. Sweet (person) — Executive Vice President and Chief Operating Officer, Interim CFO
• June 17, 2024 (date) — Effective date of CFO resignation

FAQ

Key Financial Figures

• $6.50 — ctric Power Company, Inc. Common Stock, $6.50 par value AEP The NASDAQ Stock Market L
• $400,000,000 — the offering and sale by the Company of $400,000,000 of 7.050% Fixed-to-Fixed Reset Rate Jun
• $600,000,000 — ue 2054 (the "Series A Debentures") and $600,000,000 of 6.950% Fixed-to-Fixed Reset Rate Jun

Filing Documents

• aep-20240617.htm (8-K) — 34KB
• aepjsd8kex1a06-2024.htm (EX-1.A) — 131KB
• aepjsd8kex4a06-2024.htm (EX-4.A) — 280KB
• aepjsd8kex5a06-2024.htm (EX-5.A) — 11KB
• aepjsd8kex8a06-2024.htm (EX-8.A) — 12KB
• image_0.jpg (GRAPHIC) — 10KB
• 0000004904-24-000065.txt ( ) — 727KB
• aep-20240617.xsd (EX-101.SCH) — 2KB
• aep-20240617_def.xml (EX-101.DEF) — 16KB
• aep-20240617_lab.xml (EX-101.LAB) — 28KB
• aep-20240617_pre.xml (EX-101.PRE) — 17KB
• aep-20240617_htm.xml (XML) — 3KB

01.Other Events

Item 8.01.Other Events On June 17, 2024, American Electric Power Company, Inc. (the "Company") entered into an Underwriting Agreement with Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc. and Scotia Capital (USA) Inc. as representatives of the underwriters named therein, relating to the offering and sale by the Company of $400,000,000 of 7.050% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures, Series A, due 2054 (the "Series A Debentures") and $600,000,000 of 6.950% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures, Series B, due 2054 (the "Series B Debentures," collectively, the "Debentures").

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (c) Exhibits 1(a) Underwriting Agreement, dated June 17, 2024 , between the Company and the Underwriters named in Exhibit 1 thereto, in connection with the sale of the Notes. 4(a) Supplemental Indenture No. 6 between the Company and The Bank of New York Mellon Trust Company, N.A. as trustee, dated June 20, 2024 , establishing the terms of the Debentures. 4(b) Form of the Debentures (included in Exhibit 4(a) hereto). 5(a) Opinion of David C. House regarding the legality of the Debentures. 8(a) Opinion of Simpson Thacher & Bartlett LLP regarding certain tax matters. 104 Cover Page Interactive Data File - The cover page iXBRL tags are embedded within the inline XBRL document. SIGNATURE 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, thereunto duly authorized. AMERICAN ELECTRIC POWER COMPANY, INC. By: /s/ David C. House Name: David C. House Title Assistant Secretary June 20, 2024