8-KLeadership ChangesOther EventsExhibits & Filings

American Water Works Company, Inc. 8-K Report, Executive Changes (Nov 19, 2008)

Filed November 19, 2008For Securities:AWK

Summary

This 8-K filing from American Water Works Company, Inc. (AWK) on November 19, 2008, primarily details amendments to its nonqualified savings and deferred compensation plans for both employees and non-employee directors. These amendments, approved on November 14, 2008, and effective January 1, 2009, are designed to allow participants to invest deferred amounts in notional Company common stock. This change provides employees and directors with an opportunity to align their deferred compensation with the company's stock performance. Furthermore, a key driver for these amendments is the company's need to comply with final regulations under Section 409A of the Internal Revenue Code, which governs deferred compensation plans. Investors should note that these changes primarily relate to the structure and compliance of compensation plans rather than immediate operational or financial performance updates. The full details of the amended plans are available as exhibits to this filing and were also incorporated by reference into an earlier S-1 filing.

Key Highlights

  • 1American Water Works Company, Inc. (AWK) amended its nonqualified savings and deferred compensation plans for employees and non-employee directors.
  • 2The amendments were approved by the board of directors on November 14, 2008, and become effective January 1, 2009.
  • 3Key change allows participants to invest deferred amounts in notional Company common stock.
  • 4The amendments ensure compliance with final regulations under Section 409A of the Internal Revenue Code, which governs deferred compensation.
  • 5These plan updates do not represent a change in the company's financial performance or business operations, but rather a modification of executive and director compensation structures.
  • 6Detailed information on the amended plans is available in the exhibits (99.1 and 99.2) to this 8-K filing.

Frequently Asked Questions

The main purpose of the amendments is to allow participants in the employee and director deferred compensation plans to invest their deferred amounts in notional shares of American Water Works common stock. Additionally, the amendments are intended to ensure compliance with Section 409A of the Internal Revenue Code regarding deferred compensation.

The amendments to both the Employee Plan and the Director Plan were approved on November 14, 2008, and are effective as of January 1, 2009.

No, this 8-K filing does not report on the company's financial performance or operational changes. It exclusively focuses on amendments to the company's nonqualified savings and deferred compensation plans for employees and directors.

More detailed information about the amended Nonqualified Savings and Deferred Compensation Plan for Employees and the Nonqualified Savings and Deferred Compensation Plan for Non-Employee Directors can be found in Exhibits 99.1 and 99.2, respectively, to this Form 8-K filing. These plans were also incorporated by reference into an S-1 filing on November 18, 2008.