8-KEarnings & ResultsLeadership ChangesShareholder Matters+2

EVERSOURCE ENERGY 8-K Report, Financial Results (May 3, 2023)

Filed May 3, 2023For Securities:ES

Summary

Eversource Energy filed an 8-K on May 3, 2023, primarily to report on its 2023 Annual Meeting of Shareholders and its unaudited financial results for the first quarter ended March 31, 2023. The company announced its Q1 2023 results via a press release (Exhibit 99.1), accompanied by related financial reports for its subsidiaries (Exhibit 99.2). A key operational update included the re-appointment of Jay S. Buth as the Company's principal accounting officer. The annual meeting saw significant shareholder activity, with all 11 nominees for the Board of Trustees being elected. Shareholders also provided advisory approval for the compensation of Named Executive Officers and voted in favor of holding say-on-pay votes annually. Furthermore, shareholders approved an amendment to the 2018 Incentive Plan to authorize additional shares and approved an increase in the total number of authorized common shares. The selection of Deloitte & Touche LLP as the independent auditor for 2023 was also ratified.

Key Highlights

  • 1Eversource Energy announced its unaudited financial results for the three months ended March 31, 2023.
  • 2Jay S. Buth was re-appointed as the Company's principal accounting officer.
  • 3All 11 nominees for the Board of Trustees were elected by shareholders.
  • 4Shareholders provided advisory approval for the compensation of Named Executive Officers with strong support.
  • 5The frequency of advisory votes on executive compensation was approved to be held annually ('1 Year').
  • 6Shareholders approved an amendment to increase the authorized shares under the 2018 Incentive Plan by 4,200,000.
  • 7Shareholders approved an increase in the total authorized common shares from 380,000,000 to 410,000,000.

Frequently Asked Questions

This 8-K filing serves two main purposes: to announce Eversource Energy's unaudited financial results for the first quarter ended March 31, 2023, and to report on the outcomes of its 2023 Annual Meeting of Shareholders.

Yes, Jay S. Buth, Vice President, Controller and Chief Accounting Officer, was re-appointed as the Company's principal accounting officer, effective immediately. He had previously held this role on an interim basis after John M. Moreira was appointed.

Key outcomes include the election of all 11 trustee nominees, advisory approval of executive compensation, a decision to hold say-on-pay votes annually, approval to increase authorized shares under the 2018 Incentive Plan, and a significant increase in the total number of authorized common shares.

More detailed financial information for the three months ended March 31, 2023, can be found in the news release (Exhibit 99.1) and the related financial report (Exhibit 99.2) attached to this 8-K filing. A webcast of a conference call discussing Q1 2023 performance was scheduled for May 4, 2023, with presentation slides available as Exhibit 99.3.