DUK 8-K Current Reports

Duke Energy CORP 8-K Report, Corporate Update (Aug 13, 2026)

Duke Energy Corporation (DUK) filed this 8-K on August 13, 2026 to report the closing of a public offering of equity units. The company issued 40,000,000 Corporate Units at a stated amount of $50 each, for gross proceeds of $2.0 billion, including the full exercise of the underwriters' 5,000,000-unit over-allotment option. Estimated net proceeds to the company are approximately $1,965 million after underwriting discounts, before other offering expenses. Each unit combines a stock purchase contract obligating the holder to buy DUK common stock on August 1, 2029, with a 1/40 interest in each of two $1,000 principal series of 4.85% Remarketable Senior Notes due 2032 and 2036. This is a mandatory equity-linked financing, so it will add shares to the company's share count once the contracts settle. The key economic terms are a 7.75% total annual distribution on the units, made up of a 2.90% contract adjustment payment and 4.85% interest on the RSNs. Settlement is mandatory on August 1, 2029, at a rate between 0.3301 and 0.4126 shares per contract, depending on the stock price. The reference price is about $121.18, so the maximum settlement rate applies at or below that level, and the minimum applies above roughly $151.47 (a 25% premium). The RSNs will be remarketed before settlement, which can reset their coupon. Deferred contract adjustment payments accrue at 7.75%, and a fundamental change early settlement feature provides make-whole shares. The offering is consistent with a balance sheet strategy that pairs equity with the company's capital-intensive utility capex program. Investors should weigh the dilution from future share issuance against the financing's benefit to credit metrics. The filing is largely administrative. It documents the indenture supplements, the purchase contract and pledge agreement, the underwriting agreement, and legal opinions incorporated into the company's Form S-3 shelf registration (No. 333-290475). It does not disclose any change in earnings guidance, operations, or material litigation. Investors should read the full prospectus supplement for risk factors and details on remarketing and early settlement.

Aug 13, 2026 8-K

Duke Energy CORP 8-K Report, Regulation FD Disclosure (Aug 5, 2026)

Duke Energy Progress, LLC (DEP), a Duke Energy (DUK) subsidiary, filed a Comprehensive Revenue Requirement Settlement with the North Carolina Utilities Commission (NCUC) on August 5, 2026, resolving all revenue requirement issues in its 2025 rate case (Docket E-2 Sub 1380). The settlement, reached with the Public Staff and other intervenors, sets a 9.8% return on equity on a 53% equity capital structure, a North Carolina retail rate base of approximately $17.8 billion for the historic base case, and approximately $3.4 billion of capital in a two-year Multi-Year Rate Plan (MYRP). The settlement is subject to NCUC approval, with an evidentiary hearing scheduled to begin August 11, 2026. For investors, the key outcome is the reduction from the company's original request. The original filing sought a 10.95% ROE and roughly $729 million in revenue increases; after rebuttal testimony cut the request to about $610 million (10.48% ROE), the settlement lowers the two-year revenue requirement increase to approximately $338 million, an average annual increase of about 3.4%. The ROE is flat with the prior rate case, and the settlement includes a 150 basis point ROE reduction tied to coal ash deferral amortization, which is a meaningful concession relative to the company's ask. The settlement also contains several structural items: extension of coal ash cost amortization from five to eight years, increased production tax credit flow-back to customers ($120 million annually in 2027 and 2028, up from $40 million), a $10 million shareholder contribution to customer assistance programs, and an agreement to evaluate a rate case stay-out until no earlier than November 1, 2028, conditioned on NCUC approval of deferral treatment for the Person County CC1 and Marshall CT plants. The company expects one-time pre-tax charges of approximately $30 million in 2026, to be excluded from adjusted earnings. Total Year 1 rates are requested to take effect by January 1, 2027.

Aug 5, 2026 8-K

Duke Energy CORP 8-K Report, Financial Results (Aug 4, 2026)

Duke Energy reported second-quarter 2026 GAAP EPS of $1.38 and adjusted EPS of $1.43, up from $1.25 in the second quarter of 2025. The adjusted results were driven mainly by recovery of infrastructure investments in its growing jurisdictions, partly offset by higher depreciation on a larger asset base and higher interest expense. The $0.05 gap between reported and adjusted EPS reflects $51 million pretax ($39 million after tax) of charges tied to the Duke Energy Carolinas North Carolina rate case settlements. Quarterly reported net income available to common stockholders rose to $1,077 million from $971 million. For the first half, reported EPS was $3.35 and adjusted EPS was $3.36, compared with $3.00 in the prior year. The year-to-date figures include a $0.22 benefit from the March 31, 2026 sale of Piedmont's Tennessee business and $0.24 of legal and regulatory settlement charges. Electric Utilities and Infrastructure adjusted segment income rose to $1,310 million from $1,194 million, while Other losses narrowed to $204 million from $228 million, helped by higher investment returns and lower interest expense at the holding company. Management reaffirmed 2026 adjusted EPS guidance of $6.55 to $6.80 and a long-term adjusted EPS growth rate of 5% to 7% through 2030, off a 2025 midpoint of $6.30. It also said it has confidence in earning in the top half of the range beginning in 2028. The balance sheet shows total long-term debt of $82.2 billion, up from $80.1 billion at year-end 2025, and operating cash flow for the first half declined to $4.27 billion from $5.04 billion while investing outflows were $6.21 billion. Investors will want to watch financing needs and cash generation relative to the capital program.

Aug 4, 2026 8-K

Duke Energy CORP 8-K Report, Regulation FD Disclosure (Jul 17, 2026)

Duke Energy Carolinas (DEC) filed a Comprehensive Revenue Requirement Settlement on July 17, 2026, with the Public Staff of the North Carolina Utilities Commission (NCUC) and other intervenors, resolving all remaining revenue requirement issues in DEC's November 20, 2025 rate case. The settlement sets a 9.8% return on equity on a 53% equity component, a North Carolina retail rate base of about $25.7 billion for the historic base case, and about $3.8 billion of capital in a two-year Multi-Year Rate Plan (MYRP) with an annual refund mechanism. The company requested a 10.48% ROE in its June 19, 2026 rebuttal and 10.95% in its original filing, so the settlement is a meaningful step down from the company's own requests, though it is only modestly below the 10.1% ROE approved in the last rate case. The revenue requirement increase falls from the original request of about $1,002 million to about $496 million over two years, an average annual increase of 3.7% (about 7.4% cumulative net annualized customer rate increase). Management indicates it could agree to delay its next base rate case until no earlier than November 1, 2028, provided the NCUC allows deferral of costs for the Person County CC1 and Marshall combustion turbines from in-service until they are reflected in rates with a full weighted average cost of capital. The settlement also includes a $10 million shareholder contribution to customer assistance and home repair funds, and DEC expects roughly $40 million of one-time pre-tax charges in 2026, which it will exclude from adjusted earnings. The settlement remains subject to NCUC approval. An evidentiary hearing began July 7, 2026, and DEC has requested Year 1 rates effective no later than January 1, 2027. Intervening parties have also agreed to pursue similar settlement discussions in the separate Duke Energy Progress rate case (Docket E-2, Sub 1380). Investors should weigh the lower authorized return and revenue ask against the greater certainty of a settlement with the Public Staff, and watch for the commission's ruling, the DEP outcome, and the treatment of the proposed deferrals.

Jul 17, 2026 8-K

Shareholder MattersExhibits & Filings

Duke Energy CORP 8-K Report, Regulation FD Disclosure (Jul 6, 2026)

Duke Energy Carolinas, LLC (DEC), a regulated utility subsidiary of Duke Energy Corporation (DUK), reached a partial settlement on July 2, 2026 with the North Carolina Public Staff in its rate case before the North Carolina Utilities Commission (NCUC). The case, filed November 20, 2025, seeks new rates and a two-year Performance Based Regulation (PBR) framework with a Multi-Year Rate Plan (MYRP). The Stipulation resolves a number of accounting items, operating and maintenance (O&M) costs, and discrete project-level capital adjustments, but leaves the most material issues for litigation. Those include return on equity (ROE), capital structure, the broader MYRP2 capital program, PBR mechanisms (performance incentives, decoupling, and earnings sharing), storm cost recovery, depreciation, and large load tariffs and interconnection matters. The revenue ask has been reduced substantially. The original request of approximately $1,002 million (about 15.0%) was cut to roughly $622 million (about 9.3%) in rebuttal testimony filed June 19, 2026. The Stipulation trims this further to about $556 million, or an 8.3% net annualized customer rate increase over the two years. The revised filing also lowered the requested ROE from 10.95% to 10.48%, still above the 10.1% approved in DEC's last rate case, and the company withdrew its proposed depreciation study and removed Winter Storm Fern from this case to pursue separate securitization. The Stipulation is subject to NCUC approval, and an evidentiary hearing is scheduled to begin July 7, 2026. DEC has requested Year 1 rates effective no later than January 1, 2027. For investors, the near-term financial impact is modest. The Stipulation triggers a one-time pre-tax accounting charge of approximately $10 million in the second quarter of 2026. The more significant drivers of earnings, namely the final ROE, capital structure, and the MYRP2 capital plan, remain unresolved and will be determined through litigation and the NCUC's final order. Because the 8-K furnishes this information under Item 7.01 rather than filing it, the exhibit is not subject to Section 18 liability.

Jul 6, 2026 8-K

Duke Energy CORP 8-K Report, Shareholder Vote Results (May 13, 2026)

Duke Energy Corporation (DUK) filed an 8-K on May 13, 2026, detailing the results of its Annual Meeting of Shareholders held on May 7, 2026. The filing indicates strong shareholder support for the election of all director nominees, with each receiving the backing of a majority of the votes cast. Additionally, shareholders overwhelmingly ratified the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm for 2026 and approved, on an advisory basis, the compensation of named executive officers. These outcomes suggest shareholder confidence in the current board and auditing practices. However, a significant management proposal to eliminate supermajority voting requirements from the Amended and Restated Certificate of Incorporation failed to achieve the necessary 80% of outstanding shares for approval. This outcome indicates a segment of the shareholder base maintained opposition to this particular governance change, despite majority support in votes cast. The company also confirmed that it is not an emerging growth company and has not elected to opt out of extended transition periods for new accounting standards.

May 13, 2026 8-K

Acquisitions & DispositionsRegulation FDExhibits & Filings

Duke Energy CORP 8-K Report, Financial Results (May 5, 2026)

Duke Energy (DUK) reported first-quarter 2026 GAAP EPS of $1.97 and adjusted EPS of $1.93, versus $1.76 in both reported and adjusted terms for Q1 2025. Adjusted results were driven by recovery of infrastructure investments in its growing jurisdictions and favorable weather, partly offset by higher O&M (including storm costs) and higher depreciation. Reported EPS was flattered by a net $0.04 of special items: a $0.19 charge for legal and regulatory settlements at Duke Energy Carolinas and Progress, offset by $0.22 of gains on asset sales (primarily the Piedmont Tennessee business sale, which closed March 31, 2026) and $0.02 from discontinued operations. Management reaffirmed 2026 adjusted EPS guidance of $6.55 to $6.80 and a long-term adjusted EPS growth rate of 5% to 7% through 2030, off a 2025 midpoint of $6.30, with confidence to reach the top half of the range beginning in 2028. The company also highlighted 7.6 GW of economic development projects secured under Electric Service Agreements and the closing of $5.3 billion in strategic transactions to strengthen the balance sheet. Balance sheet changes are consistent with this: cash rose to $2.14 billion from $245 million, noncontrolling interests increased to $2.02 billion from $1.18 billion, and additional paid-in capital rose by about $1.9 billion, indicating meaningful equity-related financing or transaction activity in the quarter. Key watch items for investors include the effective tax rate (17.6% reported, driven by nondeductible goodwill on the Tennessee sale, versus 10.6% adjusted), a 2.2% decline in industrial sales, rising Q1 storm and environmental costs, and reliance on regulatory recovery for infrastructure spending. Operating cash flow fell to $1.51 billion from $2.18 billion year over year, while investing outflows narrowed to $1.85 billion from $3.30 billion. Overall, the quarter was a modest beat on an adjusted basis with reaffirmed guidance, while reported earnings were heavily influenced by one-time items.

May 5, 2026 8-K

Duke Energy CORP 8-K Report, Acquisition Completed (Apr 1, 2026)

Duke Energy (NYSE: DUK) and its subsidiary Piedmont Natural Gas completed the sale of Piedmont's Tennessee natural gas distribution business to Spire Inc. on March 31, 2026, for $2.48 billion in cash, subject to customary purchase price adjustments. The sale was first announced in July 2025. The business includes roughly 3,800 miles of distribution and transmission pipeline and more than 200,000 customers, primarily in the Greater Nashville area. Operating employees have transitioned to Spire. Per the company, about $800 million of proceeds will repay debt at Piedmont to maintain its capital structure, and the remaining $1.5 billion, net of tax, is intended to help fund Duke's five-year regulated capital plan of $103 billion. The unaudited pro forma financials in Exhibit 99.1 show that the sale generated an estimated pre-tax gain of about $693 million, which lifts pro forma 2025 Piedmont net income to $887 million from $440 million historically. This gain is non-recurring, and the exhibit notes that the actual gain will be based on net book value at closing and may differ from the estimate. Investors should also note that the sale removes about $326 million of 2025 revenue and about $149 million of pre-gain operating loss-equivalent contribution from the Tennessee business, so the ongoing earnings base of Piedmont is smaller going forward. From a credit and capital allocation standpoint, the transaction is modestly positive: it reduces Piedmont's debt by roughly $800 million and provides a sizable cash inflow to support Duke's large regulated investment program. The filing is largely a completion notice, with the purchase agreement incorporated by reference and no new guidance beyond the pro forma data.

Apr 1, 2026 8-K

Material AgreementsExhibits & Filings

Duke Energy CORP 8-K Report, Material Agreement (Mar 16, 2026)

Duke Energy Corporation (DUK) has filed an 8-K report detailing an amendment to its existing credit agreement. Specifically, Amendment No. 3 to the Amended and Restated Credit Agreement, dated March 16, 2026, has been executed by Duke Energy Corporation and several of its subsidiaries, along with various lenders and Wells Fargo Bank, N.A. as Administrative Agent. The primary change introduced by this amendment is the extension of the credit facility's termination date by one year, moving it from March 16, 2030, to March 16, 2031. This extension of the credit facility's maturity offers Duke Energy enhanced financial flexibility and operational runway. By securing access to these funds for an additional year, the company can better manage its capital needs, fund ongoing projects, and navigate potential market uncertainties. Investors should view this as a positive development that reinforces the company's commitment to maintaining a stable and accessible liquidity position, crucial for a utility company with significant infrastructure investment requirements.

Mar 16, 2026 8-K

Financial EventsSecurities & ListingExhibits & Filings

Duke Energy CORP 8-K Report, Financial Obligation (Mar 12, 2026)

Duke Energy Corporation (DUK) announced on March 12, 2026, the completion of a private offering of $1.5 billion in 3.000% Convertible Senior Notes due 2029. These notes were sold to qualified institutional buyers under Rule 144A and represent a significant financing event for the company. The proceeds from this issuance will likely be used for general corporate purposes, potentially including capital expenditures and debt management. The convertible nature of these notes offers investors the potential for equity upside if Duke Energy's common stock performs well, while also providing a fixed interest income stream. The notes are senior unsecured obligations and mature in March 2029. The conversion rate is initially set at 6.2277 shares per $1,000 principal, implying a conversion price of approximately $160.57 per share, which represents a premium to the market price at the time of issuance. The company retains the option to settle conversions in cash, shares, or a combination thereof.

Mar 12, 2026 8-K

Duke Energy CORP 8-K Report, Corporate Update (Mar 10, 2026)

Duke Energy (NYSE: DUK) filed an 8-K on March 10, 2026 to report the pricing of an upsized private placement of $1.3 billion aggregate principal amount of 3.000% convertible senior notes due March 15, 2029, increased from the previously announced $1.0 billion. The notes are senior unsecured obligations, bear semiannual interest, and are expected to close on March 12, 2026. The initial purchasers also hold a 13-day option for an additional $200 million, which would bring net proceeds to roughly $1.48 billion if fully exercised. Base net proceeds are estimated at about $1.29 billion. The primary use of proceeds is refinancing. Duke intends to use the proceeds to repay at maturity $1.725 billion of its 4.125% convertible senior notes due April 15, 2026, including any cash amounts due on conversion, with the remainder for general corporate purposes. Investors should note that this is a refinancing of maturing convertible debt rather than a clear signal of new capital expenditure, and that the new notes carry a lower coupon than the existing 4.125% notes they replace. The conversion price is about $160.57 per share, a 22.50% premium to the March 9, 2026 closing price. Duke will settle conversions with cash up to principal and may use cash, shares, or a combination for the excess, which limits dilution. Conversions are restricted before December 15, 2028, and the notes are non-callable before maturity. The filing also flags that convertible arbitrage activity tied to the existing notes' final observation period (beginning March 9, 2026) could move the stock price and raise the effective conversion price of the new notes.

Mar 10, 2026 8-K

Material AgreementsExhibits & Filings

Duke Energy CORP 8-K Report, Corporate Update (Mar 9, 2026)

Duke Energy (NYSE: DUK) filed an 8-K on March 9, 2026 to announce a proposed private placement of $1.0 billion of convertible senior notes due 2029, with an option for initial purchasers to buy up to an additional $150 million. The filing is an Item 8.01 (Other Events) report, so it discloses a financing action rather than an earnings update or a material definitive agreement. No pricing terms, coupon, conversion rate, or conversion premium are disclosed in the press release, so those details will need to come from the offering memorandum or a subsequent pricing announcement. The primary use of proceeds is to repay at maturity $1.725 billion of Duke's outstanding 4.125% Convertible Senior Notes due April 15, 2026. The new issuance is therefore largely a refinancing that keeps Duke's convertible debt stack in place, with any remaining proceeds earmarked for general corporate purposes. Duke also said it may settle conversions with a combination of cash (up to principal) and cash or common shares for the excess, which gives it flexibility to limit share dilution. The filing also flags a near-term market dynamic: the final observation period for the existing notes begins March 9, 2026. Holders who run convertible arbitrage strategies, which involve short positions in DUK stock, may buy or unwind shares around maturity, potentially pushing the stock price up during the observation period and raising the effective conversion price. Investors should view this as a technical, short-term factor for the stock rather than a change in fundamentals.

Mar 9, 2026 8-K

Duke Energy CORP 8-K Report, Material Agreement (Mar 6, 2026)

Duke Energy Corporation (NYSE: DUK) filed an 8-K on March 6, 2026 disclosing that it entered into an Equity Distribution Agreement establishing an at-the-market (ATM) common stock program with a sale capacity of up to $6.0 billion. The program is executed through a large syndicate of sales agents and forward purchasers, and the agreement runs until the earlier of the full $6.0 billion being sold or September 23, 2028. The filing does not disclose any sales to date, so the amount actually raised under the program is unknown from this document. The program offers two structures. Under Initially-Priced Forward Sale Agreements, Duke would receive a forward sale price set at the outset, subject to price adjustments. Under Collared Forward Sale Agreements, the eventual price falls within a floor and cap set at inception. Duke can also issue shares directly through the sales agents at prevailing market prices. Each structure carries commissions of up to 1.00% of sales proceeds. Forward structures defer share issuance and proceeds until settlement, and the company may cash-settle or net-share-settle certain forwards. The filing also notes that forward purchasers may hedge by buying or selling shares, which could affect the stock price during the hedging period. For investors, the key takeaway is that Duke is preparing a substantial source of equity financing, which would dilute existing shareholders when shares are issued but could help fund its capital-intensive utility capital plan while supporting its balance sheet and credit profile. Investors should watch for Placement Notices and pricing supplements in future filings, which will show the pace and cost of issuance. The filing itself contains no earnings, guidance, or revenue data.

Mar 6, 2026 8-K

Acquisitions & DispositionsMaterial AgreementsExhibits & Filings

Duke Energy CORP 8-K Report, Material Agreement (Mar 3, 2026)

On March 3, 2026, Duke Energy, through its subsidiaries, closed the first phase of a minority investment in Duke Energy Florida, LLC (held through Florida Progress, LLC). Brookfield Super-Core Infrastructure Partners affiliate Peninsula Power Holdings L.P. bought a 9.2% indirect interest in Florida Progress for approximately $2.8 billion. The investment is structured in stages, with four further commitments totaling $3.2 billion due by June 30, 2028. Once fully funded, the investor is expected to hold about 19.7%. Based on the first closing, the implied equity value of Florida Progress is roughly $30 billion, though the filing does not state a valuation. For investors, the transaction is a significant source of non-dilutive capital for Duke's Florida utility business. Total expected proceeds of about $6.0 billion across all closings would fund a portion of Duke's capital plan without issuing new Duke common equity. The filing does not say how proceeds will be used, so investors should check Duke's financing disclosures for that detail. Duke keeps control: the Florida Progress board will have eleven managers, nine nominated by Progress Energy and two by the investor. The investor's approval rights cover certain major decisions, and it can require Progress Energy to buy its interest under specified circumstances. The filing is a current report that attaches the LLC Agreement as Exhibit 10.1 and cross-references the Investment Agreement dated August 4, 2025. It contains standard forward-looking statement cautions. The later closings are conditional on the terms of the Investment Agreement, and the filing does not describe the conditions or the risk of non-funding.

Mar 3, 2026 8-K

Duke Energy CORP 8-K Report, Regulation FD Disclosure (Feb 18, 2026)

Duke Energy Corporation (DUK) has announced a significant development regarding its subsidiary, Florida Progress, LLC. The company has received a crucial regulatory approval from the U.S. Nuclear Regulatory Commission (NRC) for its Investment Agreement with Peninsula Power Holdings L.P., an affiliate of Brookfield Super-Core Infrastructure Partners. This approval signifies the removal of the final condition for the initial closing of the transaction, allowing Duke Energy to proceed with the sale of up to 19.7% of Florida Progress membership interests for an aggregate of $6 billion. The first closing is scheduled for March 3, 2026, with an initial investment of $2.8 billion from the investor. This transaction is structured with subsequent closings occurring through June 2028, totaling the full $6 billion investment. This infusion of capital is expected to strengthen Florida Progress's financial position and support its strategic initiatives.

Feb 18, 2026 8-K

Leadership ChangesExhibits & Filings

Duke Energy CORP 8-K Report, Financial Results (Feb 10, 2026)

Duke Energy (NYSE: DUK) reported fourth-quarter and full-year 2025 results on February 10, 2026. Full-year 2025 reported and adjusted EPS were both $6.31, up from $5.71 reported and $5.90 adjusted in 2024, and above the guidance midpoint of $6.30. Reported and adjusted results were identical in 2025, meaning no special items were recorded. Fourth-quarter EPS was $1.50 on both a reported and adjusted basis, down from $1.66 adjusted in Q4 2024, driven by higher O&M, interest expense, depreciation, Duke Energy Foundation contributions, and a higher effective tax rate. Full-year 2025 net income available to common stockholders was $4,912 million, and operating revenues rose to $32.2 billion from $30.4 billion. Management introduced 2026 adjusted EPS guidance of $6.55 to $6.80 and extended its 5% to 7% long-term adjusted EPS growth rate through 2030, using the 2025 guidance midpoint of $6.30 as the base. The company also signaled confidence in reaching the top half of that range beginning in 2028. The growth outlook is anchored by a $103 billion five-year capital plan, which management says drives 9.6% earnings base growth through 2030, and by contracted demand from AI and advanced manufacturing customers. Capital spending was heavy in 2025, with net cash used in investing activities of $14.3 billion against operating cash flow of $12.3 billion, and long-term debt rose to $80.1 billion, which investors should weigh against the growth plan. For investors, the key takeaways are steady earnings delivery, a clear multi-year growth framework, and a rising reliance on capital markets to fund the buildout. The main risks flagged include affordability pressure on customers, interest and depreciation drag on earnings, regulatory outcomes, and the timing of load growth from data centers. This summary is based solely on the earnings release furnished under Item 2.02; the 8-K itself does not contain the earnings call commentary.

Feb 10, 2026 8-K

Duke Energy CORP 8-K Report, Executive Changes (Dec 12, 2025)

Duke Energy Corporation (DUK) has announced a planned transition in its senior accounting leadership. Ms. Cynthia S. Lee, Senior Vice President, Chief Accounting Officer and Controller, will be retiring effective December 31, 2026, after a distinguished tenure. To ensure a smooth handover, Ms. Lee will transition into an advisor role starting March 1, 2026, providing continuity and support during this period. Taking over the critical role of Senior Vice President, Chief Accounting Officer and Controller will be Ms. Abigail L. Motsinger, effective March 1, 2026. Ms. Motsinger brings extensive experience within Duke Energy, most recently serving as Vice President, Investor Relations. This internal promotion highlights the company's commitment to developing talent from within. Investors will want to note the compensation package approved for Ms. Motsinger and her inclusion in the executive severance plan.

Dec 12, 2025 8-K

Duke Energy CORP 8-K Report, Regulation FD Disclosure (Nov 20, 2025)

On November 20, 2025, Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP) filed rate cases with the North Carolina Utilities Commission (NCUC) seeking retail revenue increases. If approved in full, DEC's net retail revenues would rise about $727 million (10.9%) in Year 1 and $275 million (4.1%) in Year 2, a cumulative 15.0% increase totaling $1,002 million. DEP's request is about $528 million (10.9%) in Year 1 and $200 million (4.1%) in Year 2, a cumulative 15.1% increase totaling $729 million. Both filings propose a two-year Multi-Year Rate Plan (MYRP) for 2027 and 2028, along with residential decoupling, performance incentive mechanisms (PIMs), and an earnings sharing mechanism (ESM). The requests are driven mainly by historical plant investment and depreciation changes, planned MYRP capital projects (about $4.4 billion for DEC and $3.9 billion for DEP on an NC retail basis), and a higher requested return. The companies request a 10.95% ROE with a 53% equity component, compared with 10.1% for DEC and 9.8% for DEP in their last cases. Recovery of deferred coal ash costs (about $417 million for DEC and $411 million for DEP, amortized over five years) and new storm reserves are also included. Both requests incorporate production tax credit (PTC) flowbacks to customers. DEC already returns nuclear PTC benefits through an existing rider, while DEP proposes a new rider starting in 2027. The companies ask the NCUC to approve Year 1 rates effective no later than January 1, 2027. No procedural schedule has been set, but hearings are expected to begin in the third quarter of 2026. Investors should watch the NCUC's treatment of the requested ROE, the size of the capital investment recovery, and the final scope of the MYRP, since these determine the earnings trajectory for both utilities over 2027 and 2028.

Nov 20, 2025 8-K

Duke Energy CORP 8-K Report, Regulation FD Disclosure (Nov 12, 2025)

Duke Energy Carolinas (DEC), a subsidiary of Duke Energy Corporation (DUK), reached a partial settlement on November 11, 2025 with the South Carolina Office of Regulatory Staff and other intervenors in its base rate case before the Public Service Commission of South Carolina (PSCSC). The rate case was originally filed July 1, 2025, requesting roughly $151 million in annual retail revenue increases (about 7.7%) at a 10.85% return on equity. The Stipulation resolves all revenue requirement issues and reduces the base revenue increase to approximately $74 million, with a net increase of about $19 million (roughly 1.0% average retail increase) after a $55 million credit from the nuclear and production tax credit (PTC) rider. Key settlement terms include a 9.99% return on equity, a 53% equity / 47% debt capital structure, an overall rate of return of 7.41%, and a South Carolina retail rate base of $7.9 billion (versus the $8.1 billion requested). The settlement also supports an increase in the annual storm reserve funding from $5 million to $10 million and a proposed pension cost rider intended to reduce future volatility in pension expense. Additionally, DEC agreed to flow back $100 million of IRA nuclear and other PTCs to South Carolina retail customers over 22 months. The company states the Stipulation has no material immediate accounting impact. The Stipulation remains subject to PSCSC approval, with an evidentiary hearing scheduled to begin November 13, 2025. DEC has requested new rates take effect no later than March 1, 2026. For investors, the outcome is a meaningful reduction from the original request, primarily driven by the lower ROE, but it still provides a constructive regulatory outcome with a modest customer impact and continued recovery of prudently incurred costs.

Nov 12, 2025 8-K

Duke Energy CORP 8-K Report, Financial Results (Nov 7, 2025)

Duke Energy (DUK) reported third-quarter 2025 GAAP reported EPS of $1.81 and adjusted EPS of $1.81, up from $1.60 reported and $1.62 adjusted in the prior-year quarter, an increase of roughly 11% on a reported basis. The quarter's adjusted results were driven by new rates and riders and higher retail sales volumes, partially offset by milder weather, higher interest expense, and higher depreciation and property taxes on a growing asset base. Electric Utilities and Infrastructure segment income rose to $1,658 million from $1,464 million adjusted, while Gas Utilities and Infrastructure was flat at a $26 million loss and Other widened to a $225 million loss on higher interest expense. Q3 2025 had no special items, so reported and adjusted figures are identical. Management narrowed its 2025 adjusted EPS guidance to $6.25 to $6.35 (midpoint $6.30) and reaffirmed a 5% to 7% long-term adjusted EPS growth rate through 2029. The CEO said the company has confidence it will earn in the top half of that range beginning in 2028. Management also indicated that load growth from economic development is supporting a larger capital plan, with a new 2026-2030 plan expected in February at $95 to $105 billion, which management describes as the largest in the industry. Investors will want to weigh that capital ramp against rate affordability and the financing needs it implies. The nine-month balance sheet shows total long-term debt of about $79.3 billion plus $6.5 billion of current maturities, and cash from operations of $8.7 billion against $10.0 billion of investing outflows. The filing is furnished under Item 2.02 rather than filed, so the earnings release is not subject to Section 18 liability. The results show a steady regulated utility earnings profile supported by rate cases, with the main watch items being rising interest expense, the size of the forthcoming capital plan, and whether load growth from data centers and economic development materializes as projected.

Nov 7, 2025 8-K

Leadership ChangesOther EventsExhibits & Filings

Duke Energy CORP 8-K Report, Regulation FD Disclosure (Oct 30, 2025)

On October 27, 2025, Duke Energy Progress (DEP), its South Carolina regulatory staff (the Office of Regulatory Staff, ORS), and other intervening parties reached a partial settlement in DEP's base rate case before the Public Service Commission of South Carolina (PSCSC), filed June 12, 2025. The Stipulation resolves all revenue requirement issues. It sets a return on equity of 9.99% on a 53% equity / 47% debt capital structure, for an overall rate of return of 7.2%, and a South Carolina retail rate base of $2.2 billion. Against DEP's original request of a $75 million increase (10.85% ROE, 7.65% overall return), the settlement implies a net annual retail revenue increase of about $40 million, or roughly 6.5% on average, after a $10 million annual flow-back of nuclear and other production tax credits. The settlement also supports DEP's proposed increase in annual storm reserve funding from $3 million to $6 million and its proposed pension cost rider, which is intended to reduce future earnings volatility from pension cost changes. DEP states the Stipulation has no material immediate accounting impact. The settlement remains subject to PSCSC approval. An evidentiary hearing began October 29, 2025, and DEP has asked that new rates take effect no later than February 1, 2026. For investors, the filing shows the regulator and major parties largely aligned on DEP's revenue requirement, with the authorized ROE trimmed about 86 basis points from the requested level. The main remaining uncertainty is the commission's final order.

Oct 30, 2025 8-K

Duke Energy CORP 8-K Report, Executive Changes (Sep 12, 2025)

Duke Energy (NYSE: DUK) filed an 8-K on September 12, 2025 to disclose the appointment of Jeffrey Guldner to its Board of Directors, effective September 15, 2025. Guldner's initial term runs until the 2026 Annual Meeting of Shareholders. The Board also named him to the Compensation and People Development Committee and the Finance and Risk Management Committee. The Board has determined he is independent under NYSE listing standards and SEC rules. Guldner brings utility leadership experience from Pinnacle West Capital Corporation and its subsidiary Arizona Public Service (APS), where he served as chairman, president and CEO for five years until retiring on March 31, 2025. He remains employed by Pinnacle West in a non-executive advisory role through March 2026. His background also includes public utility and energy law at Snell & Wilmer and service as a Navy surface warfare officer. Duke's CEO Harry Sideris and independent chair Ted Craver framed the appointment as adding perspective on execution and transformation in the energy sector. For investors, the filing is a governance event rather than a financial one. It contains no financial results, guidance, or transaction disclosures, and the filing states no related-party transactions requiring disclosure under Item 404(a). Director compensation follows Duke's existing program, with a pro-rated annual retainer and a stock ownership requirement of five times the cash retainer ($675,000). The appointment adds a director with direct APS and western utility operating experience to a board that now has two committee seats for him.

Sep 12, 2025 8-K

Duke Energy CORP 8-K Report, Corporate Update (Sep 11, 2025)

On September 11, 2025, Duke Energy Corporation (DUK) closed the sale of $1.75 billion in senior unsecured notes in two tranches: $1.0 billion of 4.95% Senior Notes due 2035 and $750 million of 5.70% Senior Notes due 2055. The notes were issued under the company's 2008 base indenture as supplemented by a Thirty-fifth Supplemental Indenture with The Bank of New York Mellon Trust Company, N.A. as trustee. The offering was priced under an underwriting agreement dated September 8, 2025, with Citigroup, Goldman Sachs, Mizuho, MUFG, PNC, Truist and Wells Fargo as representatives, and the underwriters bought the notes at 99.022% (2035s) and 98.882% (2055s) of par. The filing is a routine debt financing disclosure under Item 8.01 and includes no change to earnings guidance, dividends, or operations. For investors, the key takeaways are the size and cost of the new debt. The 2035 notes yield about 4.99% and the 2055 notes about 5.72%, implying spreads of roughly +95 and +103 basis points over benchmark Treasuries. Proceeds were not explicitly stated in this excerpt, but a debt issuance of this size is typically used to refinance maturing obligations and fund the utility capital program, which is consistent with Duke's large ongoing infrastructure spending. The offering was made under the existing Form S-3 shelf registration (No. 333-267583), so it does not signal a new equity or capital-structure change. Overall, the filing reflects continued access to investment-grade debt markets at reasonable spreads. The main investor considerations are the modest incremental interest cost tied to higher rates, the expansion of long-dated leverage, and the ongoing reliance on debt to finance Duke's capital plan. The filing does not contain financial results, guidance changes, or material adverse developments.

Sep 11, 2025 8-K

Material AgreementsRegulation FDExhibits & Filings

Duke Energy CORP 8-K Report, Financial Results (Aug 5, 2025)

Duke Energy (NYSE: DUK) reported second-quarter 2025 reported and adjusted EPS of $1.25, up from $1.13 reported and $1.18 adjusted in the second quarter of 2024. The result was driven mainly by new rates and riders at the Electric Utilities and Infrastructure segment, which earned $1,194 million versus $1,115 million adjusted a year earlier. That gain was partly offset by higher O&M, higher interest expense, and depreciation on a growing asset base. Gas Utilities and Infrastructure was flat at $6 million, and the Other segment loss widened to $228 million from $200 million, mainly on higher interest expense on holding-company debt. Management reaffirmed 2025 adjusted EPS guidance of $6.17 to $6.42 (midpoint $6.30) and a 5% to 7% long-term adjusted EPS growth rate through 2029. Six-month reported EPS of $3.00 compares with $2.57 a year earlier, and the company describes itself as on track to land within the full-year range. The reported and adjusted figures match this quarter because the only special item was a $1 million loss from discontinued operations, tied to the Commercial Renewables sale. The release also highlights two strategic transactions that management says will materially strengthen the balance sheet and fund growth: an equity investment in Duke Energy Florida and the sale of the Piedmont Tennessee business. The filing's balance sheet shows total assets of $189.7 billion and long-term debt of $78.9 billion at June 30, 2025, with the proceeds intended to support higher capital deployment. Investors should weigh the sustained rise in interest expense and the dilution from the 777 million weighted average shares against the growth outlook.

Aug 5, 2025 8-K

Duke Energy CORP 8-K Report, Material Agreement (Aug 5, 2025)

On August 4, 2025, Duke Energy, through its subsidiaries Progress Energy, Inc. and Florida Progress, LLC (owner of Duke Energy Florida), entered into an Investment Agreement with an affiliate of Brookfield Super-Core Infrastructure Partners under which Brookfield will acquire up to a 19.7% non-controlling indirect equity interest in Duke Energy Florida for $6.0 billion. The investment is structured in tranches: $2.8 billion at a first closing expected in early 2026, followed by $200 million by December 31, 2026, $500 million by June 30, 2027, $1.5 billion by December 31, 2027, and $1.0 billion by June 30, 2028. Closing is subject to FERC approval, CFIUS review, and NRC approval or a determination that approval is not required. Either party may terminate if the first closing has not occurred by May 4, 2026 (extendable to November 4, 2026), and a $240 million termination fee is payable by Brookfield in certain circumstances. The company is positioning the deal as an efficient, all-cash financing that strengthens its balance sheet. Management cites an implied valuation of 2.0x 2024 year-end rate base and 29x 2024 earnings, which it describes as a significant premium to its current public equity valuation. Of the proceeds, roughly $2 billion would fund a $4 billion increase in Duke Energy Florida's five-year capital plan (bringing the total five-year capital plan to $87 billion company-wide), and $4 billion would be used to repay holding company debt. Duke Energy also raised its long-term FFO/Debt target by 100 basis points to 15%, reaffirmed 2025 adjusted EPS guidance of $6.17 to $6.42, and reiterated its 5% to 7% adjusted EPS growth rate through 2029. Combined with the Piedmont Tennessee gas LDC sale to Spire for $2.48 billion, the company expects about $7.5 billion of net proceeds. For investors, the key points are the financing mix, credit-metric support, and the trade-off of diluting cash flows and control at the Duke Energy Florida level. Duke retains an 80.3% interest and continues to operate the utility, with no expected changes to workforce or Florida leadership. The company also states the deal would offset about $1.5 billion of common equity needs, which may reduce the need for near-term equity issuance. Investors should monitor regulatory approvals, the timing of the first closing in early 2026, and the full agreement terms, which Duke expects to file with its Form 10-Q for the period ending September 30, 2025.

Aug 5, 2025 8-K

Material AgreementsRegulation FDExhibits & Filings

Duke Energy CORP 8-K Report, Material Agreement (Jul 29, 2025)

Duke Energy (through its wholly owned subsidiary Piedmont Natural Gas) has agreed to sell its Tennessee natural gas local distribution company business to Spire Inc. for $2.48 billion in cash, subject to customary net working capital, regulatory asset and liability, and capital expenditure adjustments at closing. The transaction requires Hart-Scott-Rodino clearance and approval from the Tennessee Public Utility Commission, carries no financing condition, and is expected to close in the first quarter of 2026. The business includes roughly 3,800 miles of distribution and transmission pipelines, an LNG facility, and about 205,000 customers, with operations remaining in the Greater Nashville area. For investors, the key economic points are valuation and use of proceeds. Duke cites a 1.8x multiple of 2024 year-end rate base and a 24x multiple of 2024 earnings, which it describes as a significant premium to its own common stock valuation. Of the proceeds, about $800 million will reduce debt at Piedmont to maintain its capital structure, leaving net proceeds of roughly $1.5 billion after taxes, which Duke expects to offset largely with existing tax credits. Management says these proceeds satisfy the vast majority of common equity needs through 2026 and reaffirmed 2025 adjusted EPS guidance of $6.17 to $6.42 and 5% to 7% long-term growth through 2029. The filing also points to risks that investors should monitor. The purchase agreement allows termination if closing has not occurred by April 27, 2026, extendable by three months if only regulatory approvals remain, and provides for a termination fee payable by the buyer in certain circumstances. The full agreement will be filed with the Form 10-Q for the period ended September 30, 2025, and the 8-K itself does not provide the detailed fee amount.

Jul 29, 2025 8-K

Leadership ChangesShareholder MattersExhibits & Filings

Duke Energy CORP 8-K Report, Financial Results (May 6, 2025)

Duke Energy (NYSE: DUK) reported first-quarter 2025 GAAP reported EPS and adjusted EPS of $1.76, up from $1.44 in the first quarter of 2024, a gain of roughly 22%. The filing states there were no special items in either period, so reported and adjusted results are identical. Management attributed the improvement to higher retail sales volumes, new rates and riders, and better weather, partly offset by higher interest expense and O&M. Total operating revenues rose to $8.25 billion from $7.67 billion, and operating income climbed to $2.34 billion from $1.96 billion. By segment, Electric Utilities and Infrastructure earned $1.276 billion versus $1.021 billion a year earlier, contributing $0.33 per share of the increase. Residential electricity sales rose 11.1% on a reported basis, and total retail sales rose 5.4% (1.8% weather-normal). Gas Utilities and Infrastructure segment income grew to $349 million from $284 million, driven by rate increases. The Other segment, which carries holding-company interest expense, posted a larger loss of $260 million versus $203 million. Interest expense rose to $889 million from $817 million, and the consolidated reported effective tax rate was 12.1%. Management reaffirmed full-year 2025 adjusted EPS guidance of $6.17 to $6.42 and a long-term adjusted EPS growth rate of 5% to 7% through 2029, off a 2025 midpoint of $6.30. The quarter's results were supported by constructive regulatory outcomes and new rates. Investors will want to watch rising debt (long-term debt increased to $79.7 billion from $76.3 billion at year-end 2024), capital spending of $3.3 billion in the quarter, and the company's execution on new generation to meet growing demand.

May 6, 2025 8-K

Duke Energy CORP 8-K Report, Executive Changes (May 5, 2025)

Duke Energy disclosed in this May 5, 2025 Form 8-K that Julie Janson, EVP and CEO of Duke Energy Carolinas, will retire. She notified the company on April 29, 2025 of her intent to retire on June 30, 2025, and her duties transition effective July 1, 2025. The company announced a broader leadership reshuffle in an accompanying press release (Exhibit 99.1). Kodwo Ghartey-Tagoe, currently chief legal officer and corporate secretary, will succeed Janson as EVP and CEO of Duke Energy Carolinas and head of the Natural Gas Business Unit. Alex Glenn moves from CEO of Duke Energy Florida and Midwest to EVP and chief legal officer, and Louis Renjel becomes EVP and CEO of Duke Energy Florida and Midwest while keeping his chief corporate affairs officer role. Cameron McDonald joins the senior management committee, and David Maltz adds corporate secretary to his responsibilities. The company framed these changes as continuity planning tied to its $83 billion capital plan and rising load growth. Shareholder voting at the May 1, 2025 Annual Meeting went largely as management recommended. All 13 director nominees were re-elected, with 'for' votes representing roughly 93% to 99% of votes cast for and against. Shareholders also ratified Deloitte & Touche LLP as auditor for 2025 (about 95.8% of votes cast for or against), and approved the advisory say-on-pay proposal (about 93.0%). A shareholder proposal to support a simple majority vote passed with about 98.1% support. A shareholder proposal regarding a net-zero audit failed decisively, with only about 2.3% support. For investors, the filing signals an orderly succession with no change to the CEO or the core capital plan. The key items to monitor are how the Carolinas and Florida/Midwest leadership transitions are executed, and whether the continued strong shareholder support for management and the governance proposal persists in future votes.

May 5, 2025 8-K

Material AgreementsExhibits & Filings

Duke Energy CORP 8-K Report, Material Agreement (Mar 17, 2025)

Duke Energy Corporation (DUK) announced on March 17, 2025, an amendment to its existing credit facility. This amendment, entered into on March 14, 2025, effectively increases the total credit facility amount from $9 billion to $10 billion and extends the termination date by one year, from March 16, 2029, to March 16, 2030. This action demonstrates the company's proactive approach to ensuring robust liquidity and financial flexibility for its operations and future investments. For investors, this signifies Duke Energy's commitment to maintaining a strong financial position. The increased credit line provides a larger buffer for operational needs and potential capital expenditures, while the extended maturity date offers longer-term certainty in its financing arrangements. This move is generally positive, indicating confidence from lenders and providing the company with more strategic breathing room.

Mar 17, 2025 8-K

Leadership ChangesExhibits & Filings

Duke Energy CORP 8-K Report, Financial Results (Feb 13, 2025)

Duke Energy (NYSE: DUK) reported fourth-quarter and full-year 2024 results on February 13, 2025, closing the year within its guidance range. Full-year 2024 reported GAAP EPS was $5.71 versus $3.54 in 2023, and adjusted EPS was $5.90 versus $5.56, up about 6%. Fourth-quarter reported EPS was $1.54 (vs. $1.27) and adjusted EPS was $1.66 (vs. $1.51). Growth was driven mainly by rate increases and riders, improved weather, and higher sales volumes, partly offset by higher interest expense, depreciation on a growing asset base, storm costs, and a higher effective tax rate. The Electric Utilities and Infrastructure segment delivered $4.84 billion of full-year adjusted segment income, and the Gas segment $499 million. Management introduced 2025 adjusted EPS guidance of $6.17 to $6.42, with a $6.30 midpoint, and extended its long-term adjusted EPS growth rate of 5% to 7% through 2029 off that midpoint. The five-year capital plan rises to $83 billion to fund new generation and serve growing demand, including data center load growth. Management does not forecast GAAP EPS. The company also announced that Harry Sideris will succeed Lynn Good as CEO. For investors, the key takeaways are the steady earnings trajectory, the large capital plan that underpins rate base growth, and the leadership transition. Watch for execution on the capital plan, the pace of rate case outcomes, rising interest expense and depreciation, and the GAAP-to-adjusted gap, which was $0.19 per share for 2024 and was driven by special items such as regulatory charges, impairments, and the Hurricane Helene insurance deductible.

Feb 13, 2025 8-K

Other Events

Duke Energy CORP 8-K Report, Corporate Update (Feb 3, 2025)

On February 3, 2025, Duke Energy Indiana, LLC (DEI), a subsidiary of Duke Energy (DUK), disclosed in an 8-K that the Indiana Utility Regulatory Commission (IURC) had approved a base rate increase of approximately $296 million, well below the roughly $492 million (16.2%) originally requested in its April 4, 2024 general rate case. The January 29, 2025 order, which was clarified by a second order on February 3, 2025, approved a 9.75% return on equity and a 53% equity component of the capital structure, versus the 10.5% ROE DEI had sought. The approved overall cost of capital is 6.19%, compared with the 6.5% requested. The reduction is attributed primarily to the lower ROE and to depreciation rate adjustments. For investors, the key takeaway is that the regulatory outcome is materially less favorable than the company's request, but it still provides meaningful earnings and rate base growth at the Indiana utility. Approved rate base is $12.0 billion as of June 30, 2024 and $12.5 billion as of December 31, 2025. The rate increase will be phased in: Step 1 rates are expected by March 2025 after a compliance filing in February 2025, and Step 2 rates are expected in March 2026, trued up with carrying costs to January 2026. The order also approves recovery of previously deferred federally mandated and grid investments, and it supports investments in grid infrastructure, economic development, customer additions, and physical security. The filing is an outcome-of-proceeding disclosure rather than a financial-results update, so it does not change reported financials directly. Its significance lies in the forward earnings trajectory for DEI's rate base, the allowed ROE as a benchmark for future Indiana and other regulatory proceedings, and the timing of incremental revenue. Investors should watch the February 2025 compliance filing for the final Step 1 and Step 2 amounts and for the implementation timeline, which remains subject to the forward-looking risks described in Duke Energy's 10-K.

Feb 3, 2025 8-K

Duke Energy CORP 8-K Report, Executive Changes (Jan 13, 2025)

Duke Energy (NYSE: DUK) announced on January 13, 2025 a leadership transition at the top of the company. Harry K. Sideris, currently President of Duke Energy (since April 2024) and a 29-year company veteran, will become President and Chief Executive Officer and join the Board, effective April 1, 2025. He succeeds Lynn J. Good, who retires from her roles as CEO and Chair of the Board on the same date. The board also named Lead Independent Director Theodore F. Craver, Jr., former chairman, president and CEO of Edison International, as independent Chair, effective April 1, 2025. The company describes the succession as the result of a multi-year, comprehensive CEO-search process, and Good's retirement is stated to be unrelated to any disagreement over operations, policies or practices. For investors, the filing is primarily a governance and continuity event rather than a financial one. No financial results, guidance or operational changes are disclosed. The company emphasizes continuity: Sideris has led the electric and gas utilities as president, and Good's tenure is credited with shifting Duke into a pure-play, fully regulated utility. Investors will likely focus on whether Sideris maintains the strategy and regulatory approach that Good established, and on the new separation of the Chair and CEO roles, which strengthens independent board oversight. Compensation details were also disclosed. Sideris's base salary is $1,300,000 effective April 1, 2025, with a short-term incentive opportunity of 150% of base salary and a long-term incentive opportunity of 750% of base salary. His Change in Control Agreement severance multiple was increased from 2.00x to 2.99x annual compensation, a provision shareholders may scrutinize. He also gained personal use of corporate aircraft within North America, subject to reimbursement of direct operating costs.

Jan 13, 2025 8-K

Duke Energy CORP 8-K Report, Financial Results (Nov 7, 2024)

Duke Energy (NYSE: DUK) reported third-quarter 2024 GAAP reported EPS of $1.60 and adjusted EPS of $1.62, compared with reported EPS of $1.59 and adjusted EPS of $1.94 in the third quarter of 2023. The adjusted decline was driven by a higher effective tax rate, storm costs, interest expense and depreciation on a growing asset base, partially offset by rate increases and riders. Electric Utilities and Infrastructure adjusted segment income fell to $1,464 million from $1,531 million, while Gas Utilities and Infrastructure posted an adjusted segment loss of $22 million and Other posted an adjusted loss of $206 million, largely from a higher effective tax rate. Management reaffirmed 2024 adjusted EPS guidance of $5.85 to $6.10 but said it now expects results to trend toward the lower half of that range. It also reaffirmed its long-term adjusted EPS growth rate of 5% to 7% through 2028, off a 2024 guidance midpoint of $5.98. The dominant near-term issue is the cost of restoring service after hurricanes Helene, Debby and Milton, which management estimates at $2.4 billion to $2.9 billion including capital expenditures, mostly affecting Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida. Most of these costs are expected to be deferred as regulatory assets or capitalized, with recovery pursued through regulatory mechanisms, insurance and securitization, and term loan facilities totaling $1.75 billion (expandable by $0.85 billion) have been arranged to fund the near-term financing need. For investors, the quarter shows a weaker adjusted earnings trajectory, a lower-half guidance posture and significant storm-related balance sheet exposure, while the long-term regulated growth framework was reaffirmed. Key items to monitor are the pace and extent of storm cost recovery, the effective tax rate, and financing costs as the company funds restoration work. The filing itself is a furnished earnings release under Item 2.02 and is not deemed filed for Section 18 purposes.

Nov 7, 2024 8-K

Duke Energy CORP 8-K Report, Corporate Update (Aug 22, 2024)

Duke Energy Corporation (NYSE: DUK) closed on August 22, 2024 the sale of $1.0 billion aggregate principal amount of 6.45% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures due 2054, issued under the 1939 Act-qualified indenture with The Bank of New York Mellon Trust Company, N.A. as trustee. The debentures were sold to the underwriters at 98.750% of par under an underwriting agreement dated August 19, 2024, with BofA Securities, Goldman Sachs, J.P. Morgan, Morgan Stanley, RBC, Santander and Truist as representatives. The underwriters also agreed to pay the company $2.5 million toward offering expenses, which slightly reduces the effective cost of the issuance. The debentures pay a fixed 6.45% coupon until September 1, 2034, after which the rate resets every five years to the five-year Treasury rate plus a 2.588% spread. Interest is paid semi-annually and may be deferred for up to 10 consecutive years, with deferred amounts accruing interest. Maturity is September 1, 2054. Duke may redeem at par on or after the 90 days before the first reset date, or call the notes at par after a tax event or at 102% after a rating agency event. Because the debentures are junior subordinated and include deferral features, they rank below senior debt and carry more risk than standard senior notes, though the rating-agency and tax call features give Duke flexibility. The company said the net proceeds will fund the September 16, 2024 redemption of its 1,000,000 shares of 4.875% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, with the remainder used for general corporate purposes. Replacing perpetual preferred equity with long-dated junior subordinated debt is a common capital structure management step; it may swap a 4.875% perpetual preferred for a 6.45% coupon instrument, which raises the company's interest cost, while the debt remains tax-deductible subject to rules and the 2054 maturity extends the company's funding profile. The filing itself is a routine Item 8.01 disclosure tied to the company's S-3 shelf registration (No. 333-267583), with legal opinions filed as Exhibits 5.1 and 8.1.

Aug 22, 2024 8-K

Duke Energy CORP 8-K Report, Financial Results (Aug 6, 2024)

Duke Energy (NYSE: DUK) reported second-quarter 2024 GAAP reported EPS of $1.13 and adjusted EPS of $1.18, compared with a reported loss of $(0.32) and adjusted EPS of $0.91 in the second quarter of 2023. The year-over-year adjusted improvement of $0.27 was driven mainly by the Electric Utilities and Infrastructure segment, which contributed $1.45 of adjusted EPS versus $1.11 a year earlier. Growth came from rate increases and riders, higher sales volumes, and weather that was warmer than the prior year, partially offset by higher interest expense and depreciation on a growing asset base. The reported-to-adjusted gap of $0.05 reflects a $25 million after-tax charge tied to the Duke Energy Carolinas South Carolina rate case order, plus a small discontinued operations item related to the Commercial Renewables sale. The company reaffirmed its 2024 adjusted EPS guidance of $5.85 to $6.10, with a midpoint of $5.98, and its long-term adjusted EPS growth target of 5% to 7% through 2028. Management cited a $73 billion capital plan as the basis for growth visibility and emphasized constructive regulatory outcomes. The first-half adjusted EPS of $2.62 is consistent with management's view that results are on track to land within the full-year range. Note that the 2023 comparison includes a large loss from discontinued operations tied to the Commercial Renewables disposal, which makes the reported year-over-year swing look far more dramatic than the underlying operations. Balance-sheet and cash-flow data in the release show six-month operating cash flow of $5.4 billion, up from $3.8 billion, and long-term debt of $76.4 billion at June 30, 2024. Investors should weigh the growing interest expense burden and the scale of ongoing capital spending against the regulated earnings growth profile. This is a routine earnings release furnished under Item 2.02, so its contents are not subject to Section 18 liability.

Aug 6, 2024 8-K

Duke Energy CORP 8-K Report, Regulation FD Disclosure (Jul 15, 2024)

On July 15, 2024, Duke Energy Florida (DEF) filed a comprehensive base rate Settlement Agreement with the Florida Public Service Commission (FPSC), reached with the Office of Public Counsel and other intervenors. The settlement resolves DEF's April 2024 rate case, which had requested multi-year increases to base revenues. Under the settlement, base rates are frozen (a stay-out) through year-end 2027, with approved increases of $203 million in 2025 and $59 million in 2026. In 2027, rather than a base revenue increase, DEF will use investment tax credits (estimated at $50 million, or $67 million on a pre-tax basis) that are expected to be monetized that year. Solar investments will be recovered through a separate Solar Base Rate Adjustment (SOBRA) mechanism as facilities enter service. For investors, the key economic parameters are the return on equity (ROE) band of 9.3% to 11.3% with a 10.3% midpoint, down from the 11.15% midpoint DEF originally requested, applied to a 53% equity / 47% debt capital structure. The reduction in ROE, along with changes to depreciation and amortization periods, accounts for much of the reduction from the original request. The company estimates total base revenue increases of roughly $215 million in 2025, $130 million in 2026, and $125 million in 2027 when including SOBRA and ITC benefits. The settlement supports planned investments of about 900 megawatts across 12 new solar plants, grid modernization, battery storage, and plant enhancements over 2025-2027. The settlement remains subject to FPSC review and approval, with hearings potentially scheduled between August 12 and August 23, 2024. The company states the settlement does not result in any material immediate accounting impacts. Investors should monitor the FPSC decision, since approval would set the revenue trajectory and allowed returns for DEF through 2027.

Jul 15, 2024 8-K

Duke Energy CORP 8-K Report, Regulation FD Disclosure (Jul 8, 2024)

On July 3, 2024, the Public Service Commission of South Carolina issued a written order approving a base rate increase for Duke Energy Carolinas (DEC) and approving nearly all components of a May 17, 2024 settlement with the South Carolina Office of Regulatory Staff and other intervening parties. The order resolves DEC's first South Carolina base rate case since 2018. The approved base annual revenue increase is $234 million, down from the $323 million originally requested in January 2024, and the net increase for the first two years is about $150 million after accelerated return of federal unprotected excess deferred income tax (EDIT) balances to customers. The order sets a 9.94% return on equity, a 51.21% equity component of capital structure, and a South Carolina retail rate base of $7.4 billion, versus the 10.5% ROE and 53% equity originally requested. Revised rates take effect August 1, 2024. For Duke Energy Corporation, the order produces a one-time net pre-tax accounting charge of approximately $30 to $40 million, to be recognized in the second quarter of 2024. The order also approves recovery of $184 million (South Carolina retail allocation) of coal ash compliance costs over seven years, includes about $188 million of grid improvement plan construction work in progress in rate base, and requires a $2 million one-time shareholder contribution for low-income and energy efficiency programs. The company agreed to discuss the treatment of nuclear production tax credits under the Inflation Reduction Act with the ORS, or open a separate Commission docket on the issue. The 8-K is filed under Item 7.01 (Regulation FD Disclosure), and the detailed order summary in Exhibit 99.1 is furnished rather than filed. The disclosure indicates a constructive but reduced outcome relative to the original request, with the main near-term financial effect being the second-quarter accounting charge and the lower revenue increase relative to the request.

Jul 8, 2024 8-K

Shareholder MattersCorporate ChangesExhibits & Filings

Duke Energy CORP 8-K Report, Corporate Update (Jun 7, 2024)

On June 7, 2024, Duke Energy Corporation (NYSE: DUK) closed the sale of $1.5 billion in senior unsecured notes in two equal tranches: $750 million of 5.45% Senior Notes due June 15, 2034, and $750 million of 5.80% Senior Notes due June 15, 2054. The notes were issued under the company's 2008 base indenture with BNY Mellon as trustee, supplemented by the Thirty-third Supplemental Indenture, and were sold under an underwriting agreement dated June 5, 2024 with seven lead underwriters (BofA, Citigroup, Mizuho, MUFG, PNC, SMBC Nikko, and Wells Fargo). The filing is primarily a routine debt financing disclosure under Item 8.01 rather than a material operational or strategic event. Pricing was disclosed in the attached term sheet. The 2034 notes priced at 99.868% of par, a yield to maturity of 5.467%, and a spread of +118 bps over the 4.287% benchmark Treasury. The 2054 notes priced at 99.435% of par, a yield to maturity of 5.840%, and a spread of +140 bps over the 4.440% benchmark Treasury. The underwriting agreement specifies purchase prices of 99.218% (2034) and 98.560% (2054) of principal, with the underwriters paying the company $2.4375 million to cover offering expenses. Proceeds are not specified in this filing; the prospectus supplement referenced would typically describe their intended use, such as refinancing maturing debt and general corporate purposes. The issuance was made off the existing shelf registration (No. 333-267583) and includes a legal opinion from Robert T. Lucas III, Deputy General Counsel, for incorporation into that registration. The filing also lists existing credit facilities (a 2022 amended and restated credit agreement with its 2023 amendment, and a March 2024 term loan agreement), which are relevant context for the company's overall liquidity and debt structure. Investors should note that the 2054 notes' coupon and yield reflect long-dated utility credit risk, and that the filing contains no new financial results or guidance.

Jun 7, 2024 8-K

Duke Energy CORP 8-K Report, Bylaw Amendment (May 13, 2024)

Duke Energy Corporation filed an 8-K on May 13, 2024, detailing actions taken at its Annual Meeting of Shareholders on May 9, 2024. The company's Board of Directors adopted Amended and Restated By-Laws, effective immediately, to clarify provisions related to stockholder meetings, proxy access, and advance notice of shareholder proposals. These amendments aim to simplify language and align with standard securities law definitions. Additionally, the filing provides the results of various shareholder votes held at the annual meeting. Key shareholder votes included the election of directors, ratification of Deloitte & Touche LLP as the independent auditor, and an advisory vote on executive compensation. All director nominees were elected with majority support, and the appointment of the auditor was ratified. The advisory vote on executive compensation also received majority approval. However, a proposal to eliminate supermajority voting requirements in the company's charter and a shareholder proposal on executive stock retention both failed to achieve the necessary shareholder support. A further shareholder proposal concerning financial statement assumptions and climate change also did not pass.

May 13, 2024 8-K

Duke Energy CORP 8-K Report, Financial Results (May 7, 2024)

Duke Energy (NYSE: DUK) reported first-quarter 2024 GAAP reported EPS and adjusted EPS of $1.44, up from $1.01 reported and $1.20 adjusted in Q1 2023. Because there were no special items in the period, reported and adjusted results are identical. The quarter's improvement was driven primarily by the Electric Utilities and Infrastructure segment, whose segment income rose to $1,021 million from $791 million, reflecting better weather, volume growth, favorable rate case impacts, and growth from riders and other retail margin. These gains were partially offset by higher depreciation on a growing asset base and higher interest expense. The Gas Utilities and Infrastructure segment was roughly flat at $284 million versus $287 million, while the Other segment's loss widened to $203 million from $168 million, largely due to higher interest expense on holding company debt. Management reaffirmed 2024 adjusted EPS guidance of $5.85 to $6.10 (midpoint $5.98) and a long-term adjusted EPS growth rate of 5% to 7% through 2028. The company does not forecast GAAP EPS. Cash flow from operations rose to $2,474 million from $1,483 million, while investing outflows were $3,342 million, consistent with the company's heavy capital program. Total debt-related balances increased, with long-term debt rising to about $75.0 billion from $72.5 billion, and interest expense climbed to $817 million from $720 million, a key headwind to earnings growth. The filing is a furnished earnings release under Item 2.02 and is not deemed "filed" under Section 18 of the Exchange Act. Its strategic messaging centers on an "all of the above" generation transition to meet significant demand growth, including coal, nuclear, natural gas, renewables, and storage, and on continued infrastructure investment to maintain reliability. Investors should weigh the strong quarterly beat against rising interest costs and the capital-intensive growth plan that underpins the 5% to 7% EPS growth target.

May 7, 2024 8-K

Leadership ChangesExhibits & Filings

Duke Energy CORP 8-K Report, Corporate Update (Apr 12, 2024)

Duke Energy Corporation (DUK) reported on Form 8-K that on April 12, 2024 it completed the issuance and sale of €750,000,000 aggregate principal amount of 3.75% Senior Notes due 2031 under an underwriting agreement dated April 9, 2024. The notes were sold to the underwriters (Banco Santander, Barclays, BNP Paribas and MUFG Securities EMEA) at 98.887% of principal (per the underwriting agreement), and the pricing term sheet lists a 99.287% public offering price, implying a yield to maturity of 3.869%. The notes were issued under the 2008 Indenture with the Bank of New York Mellon Trust Company as trustee, as supplemented by a Thirty-second Supplemental Indenture, and are senior unsecured obligations. The offering was registered on Form S-3 and the company intends to list the notes on the NYSE. For investors, this is a routine debt financing rather than a material change in the company's business or capital structure. The euro-denominated issuance diversifies Duke's funding sources beyond U.S. dollar markets and extends its maturity profile to 2031, supporting its large capital expenditure program in regulated utilities. The filing itself does not disclose the use of proceeds, the company's leverage impact, or any credit rating actions; those details would be found in the prospectus supplement. Exhibits include the supplemental indenture, a legal opinion from Duke's Deputy General Counsel, and the underwriting agreement. The filing also lists a Term Loan Credit Agreement dated March 26, 2024 in the underwriting agreement's schedule of material contracts, indicating additional bank financing activity around the same period. Overall, the filing is primarily informational and signals continued reliance on debt capital markets to fund Duke's infrastructure investments.

Apr 12, 2024 8-K

Duke Energy CORP 8-K Report, Executive Changes (Mar 15, 2024)

Duke Energy (DUK) announced a leadership reshuffle effective April 1, 2024. Harry K. Sideris, currently Executive Vice President of Customer Experience, Solutions and Services, will become President and report to Chair and CEO Lynn Good. Sideris will oversee the electric and gas utilities, including all customer service and operations. His approved compensation is a $900,000 annual base salary, a short-term incentive of 115% of base, and a long-term incentive of 475% of base, with his 2024 long-term award split 30% restricted stock units and 70% performance shares. Good remains Chair and CEO. Steve Young, EVP and Chief Commercial Officer, will retire June 30, 2024, after more than 40 years with the company, and will serve as a senior advisor until then. His responsibilities will be distributed among other executives. Bonnie Titone, Sasha Weintraub and Scott Batson are joining the senior management committee effective April 1, 2024, with expanded roles in administration, customer, and grid operations. For investors, this filing contains no financial results, guidance, or changes to the company's strategy. The changes signal management continuity and a consolidation of operational responsibilities under Sideris, which is relevant to execution on reliability, affordability, and the clean energy transition. The filing does not mention any change to Good's leadership or to the company's financial outlook.

Mar 15, 2024 8-K

Duke Energy CORP 8-K Report, Financial Results (Feb 8, 2024)

Duke Energy (NYSE: DUK) reported fourth-quarter and full-year 2023 results in an 8-K furnished under Item 2.02. Full-year 2023 GAAP reported EPS was $3.54 (vs. $3.17 in 2022), and adjusted EPS was $5.56 (vs. $5.27), which management said closed the year within guidance. The GAAP-to-adjusted gap was driven mainly by $1.81 per share of discontinued operations losses tied to the Commercial Renewables sale, plus smaller charges for organizational optimization ($0.13) and regulatory matters ($0.08). Q4 2023 reported EPS was $1.27 versus an adjusted $1.51, and the Electric Utilities and Infrastructure segment drove most of the quarterly improvement. The forward-looking items matter most to investors. Duke introduced 2024 adjusted EPS guidance of $5.85 to $6.10, with a midpoint of $5.98, and reaffirmed a 5% to 7% long-term adjusted EPS growth rate through 2028. It also raised its five-year capital plan to $73 billion, which signals a larger rate base and supports that growth outlook. Management does not provide GAAP EPS guidance because special items are difficult to forecast. The company completed its transition to a fully regulated utility in October 2023 after selling its utility-scale and distributed generation renewables assets. Credit quality and financing needs are the main watch items. Long-term debt rose to $72.5 billion from $65.9 billion, and the capital plan implies continued heavy external financing, along with exposure to rate case outcomes, interest expense growth (full-year interest expense rose to $3.0 billion from $2.4 billion), and weather. Note that adjusted EPS is a non-GAAP measure, and Duke does not reconcile its forward adjusted guidance to GAAP.

Feb 8, 2024 8-K

Duke Energy CORP 8-K Report, Corporate Update (Jan 31, 2024)

On January 31, 2024, Duke Energy Florida (DEF), a subsidiary of Duke Energy Corporation (NYSE: DUK), notified the Florida Public Service Commission that it expects to file a formal request for new base rates on April 2, 2024. DEF proposes a three-year rate plan beginning January 2025, when its current base rate settlement expires at year-end 2024. The request seeks additional base revenue requirements of approximately $596 million in 2025, $95 million in 2026, and $127 million in 2027, an average annual increase of roughly 4% over 2025 through 2027. DEF proposes a 11.15% return on common equity midpoint on a capital structure of 53% equity and 47% debt. The filing is a notification of intent, not a final rate decision. The request is subject to FPSC review, public hearings (expected midyear 2025), and possible modification, so the approved outcome may differ from what was proposed. The company's supporting materials cite roughly $3.3 billion of transmission and distribution investment, about $1.5 billion for 1,050 MW of new solar plus a 100 MW storage project, and about $70 million to add 428 MW of capacity at existing combined-cycle plants. A depreciation study update is expected to add about $70 million to revenue requirements starting in 2025. For investors, the key tension is between sustained rate base growth and regulatory risk. Management states that expiring fuel under-recovery, storm restoration cost recovery, and legacy purchased power contracts should lower overall customer bills in 2025 despite the base rate increase. The outcome will depend on the allowed ROE, equity ratio, and the FPSC's treatment of the proposed capital investments. Note that the filing's cautionary statement lists risks including cost recovery, regulatory approvals, and construction execution.

Jan 31, 2024 8-K

Duke Energy CORP 8-K Report, Corporate Update (Jan 12, 2024)

Duke Energy Corporation (DUK) filed this Form 8-K to disclose the closing, on January 12, 2024, of a small add-on issuance of senior notes under its existing shelf registration (No. 333-267583). The company sold $50 million of additional 4.850% Senior Notes due 2027 and $100 million of additional 4.850% Senior Notes due 2029 to Wells Fargo Securities, LLC as underwriter. These notes are fungible with the $550 million tranches of each series issued on January 5, 2024, so total outstanding principal is $600 million for the 2027 notes and $650 million for the 2029 notes, before any further reopenings. For investors, the filing is primarily administrative rather than a signal of a change in strategy or credit profile. The total new proceeds of $150 million are modest relative to Duke's large debt program, and the filing contains no new financial results, guidance, or disclosure of material events. The notes were sold at discounts: 99.556% of par for the 2027 notes and 99.080% for the 2029 notes, with Wells Fargo reimbursing $287,500 of issuance expenses. Based on the pricing term sheet, the yield to maturity is 4.884% for the 2027 notes (75 bps over the benchmark Treasury) and 4.923% for the 2029 notes (95 bps over the benchmark Treasury). The filing also includes a legal opinion from Robert T. Lucas III, incorporated into the shelf registration, and the underwriting agreement and indenture terms, including optional redemption provisions. Investors can treat this as a routine debt reopening that supports Duke's ongoing funding needs, with pricing that reflects the company's credit quality and prevailing rate levels at the time.

Jan 12, 2024 8-K

Corporate ChangesExhibits & Filings

Duke Energy CORP 8-K Report, Corporate Update (Jan 5, 2024)

Duke Energy Corporation (DUK) completed on January 5, 2024 the issuance and sale of $1.1 billion of senior unsecured notes, split evenly into $550 million of 4.850% Senior Notes due January 5, 2027 and $550 million of 4.850% Senior Notes due January 5, 2029. The notes were sold under an underwriting agreement dated January 2, 2024 with Citigroup, Morgan Stanley, TD Securities, U.S. Bancorp Investments and Wells Fargo Securities acting as representatives, and were issued under the 2008 base indenture with BNY Mellon Trust Company as trustee, supplemented by the Thirty-first Supplemental Indenture. This is a routine debt financing disclosed under Item 8.01 (Other Events), with no earnings, guidance, or operational information included in the filing. Pricing terms indicate solid demand. The 2027 notes priced at 99.989% of par with a yield to maturity of 4.854%, a spread of +75 bps over the benchmark Treasury. The 2029 notes priced at 99.881% with a yield of 4.877%, a spread of +95 bps. Underwriters paid the company an aggregate of $1,787,500, which includes a contribution toward offering expenses. The notes are issued under an effective Form S-3 shelf registration (No. 333-267583) and are not expected to be material to Duke's overall capital structure given the company's large existing debt base. For investors, the key takeaways are that Duke raised fixed-rate debt at a coupon of 4.85%, that the company's refinancing activity continued into early 2024, and that the filing contains standard covenants and redemption features, including make-whole call provisions before the par call dates. The filing itself does not provide an assessment of credit quality, and investors should refer to Duke's 10-K and rating agency reports for that information.

Jan 5, 2024 8-K

Duke Energy CORP 8-K Report, Bylaw Amendment (Dec 19, 2023)

Duke Energy Corporation (DUK) has filed an 8-K report detailing an amendment to its By-Laws, effective December 14, 2023. The primary change is the adoption of a forum selection by-law. This new by-law designates specific Delaware courts as the exclusive venue for most corporate litigation involving the company and its stakeholders, including derivative actions, breach of fiduciary duty claims, and claims arising under Delaware corporate law. For claims under the Securities Act of 1933, the federal district courts of the United States will be the exclusive forum. The company's rationale for this change is to mitigate the risks and costs associated with potential multi-jurisdictional litigation, inconsistent rulings, and the application of foreign laws. By centralizing litigation in Delaware, particularly the Delaware Court of Chancery, Duke Energy aims to benefit from the state's specialized business court system, its extensive legal precedent, and the expertise of its jurists in corporate governance matters.

Dec 19, 2023 8-K

Duke Energy CORP 8-K Report, Regulation FD Disclosure (Dec 18, 2023)

On December 15, 2023, the North Carolina Utilities Commission (NCUC) issued an order in Duke Energy Carolinas, LLC's (DEC) base rate case, approving a Performance-Based Regulation (PBR) framework with a three-year Multi-Year Rate Plan (MYRP) covering 2024 through 2026. The order approves a 10.1% return on equity (up from the 9.6% currently approved) on a 53% equity / 47% debt capital structure, for a weighted-average rate of return of 7.496%. This is below the 10.4% ROE DEC originally requested, which reflects a reduction of roughly $43 million to $48 million in annual revenue requirement compared with the company's request. The order yields a total incremental revenue requirement of about $768 million over the three years, versus the $823 million originally requested, a net annualized customer rate increase of approximately 8.3% in Year 1 and 14.6% cumulatively by Year 3. Other key outcomes include an approximate $6.4 billion... rate base treatment, full recovery of Grid Improvement Plan deferred costs over 18 years (rather than 3 years as proposed), approval of about $4.6 billion (NC retail) of capital projects in the MYRP, and a standalone rider that flows back nuclear production tax credit benefits to customers beginning in 2025. Revised Year 1 rates and residential decoupling take effect in January 2024. For investors, the order is broadly constructive: the ROE increase, approval of the full capital plan in the MYRP, and multi-year recovery mechanisms support earnings visibility and rate base growth. Offsetting factors include the lower-than-requested ROE, the stretched GIP recovery period (which defers cash recovery), and the customer-passthrough of nuclear PTC benefits. Note that the exhibit's figures are estimates subject to Public Staff review, and the 8-K itself is furnished under Regulation FD rather than filed.

Dec 18, 2023 8-K