Summary
Dominion Energy, Inc. (D) filed an 8-K on June 26, 2020, to disclose the filing of a prospectus supplement. This filing relates to the registration of shares of the Company's common stock that were previously contributed to the Dominion Energy Pension Plan's trust in December 2019. The registration rights for these shares were established via a registration rights agreement with Gallagher Fiduciary Advisors, LLC, acting as the independent fiduciary for a separate account within the trust. For investors, this filing essentially formalizes the ability for the Trust to offer and resell these previously contributed shares. It indicates a step towards potentially liquidating or distributing these holdings by the pension trust. While the shares themselves were contributed in 2019, this filing makes them eligible for public resale, which could have implications for the market supply of Dominion Energy stock.
Key Highlights
- 1Dominion Energy filed a prospectus supplement on June 26, 2020, relating to shares contributed to its pension trust.
- 2The shares were contributed to the Dominion Energy, Inc. Defined Benefit Master Trust in a private placement in December 2019.
- 3The filing enables the Trust to offer and resell these shares to the public.
- 4This action is in accordance with a registration rights agreement entered into in December 2019.
- 5The prospectus supplement is part of a Form S-3 registration statement filed on June 26, 2020.
- 6This 8-K incorporates the prospectus supplement exhibit into the existing registration statement.