EXC 8-K Current Reports
EXELON CORP - 785 current reports
EXELON CORP 8-K Report, Financial Results (May 6, 2026)
Exelon Corporation (EXC) has filed an 8-K Current Report on May 6, 2026, to disclose its financial results for the first quarter ended March 31, 2026. The report primarily references a press release (Exhibit 99.1) and presentation slides (Exhibit 99.2) that contain detailed financial and operational information. Investors should refer to these attached documents for the specific earnings data and management's commentary. Exelon has scheduled a conference call for the same day, May 6, 2026, at 9:00 AM CT (10:00 AM ET) to discuss these results. The company also included a standard disclaimer regarding forward-looking statements, highlighting various risks and uncertainties that could materially affect future performance. These include regulatory actions, environmental liabilities, cybersecurity risks, extreme weather events, supply chain disruptions, and economic downturns, among others. Investors are advised to review the full press release and presentation for a comprehensive understanding of the company's performance and outlook.
EXELON CORP 8-K Report, Shareholder Vote Results (Apr 30, 2026)
Exelon Corporation held its Annual Meeting of Shareholders on April 28, 2026, where key corporate governance matters were presented for a vote. The results indicate strong shareholder support for the proposed slate of directors, with all nominees securing a significant majority of votes. This consistent backing for the board signifies continued confidence in the company's leadership and strategic direction. Furthermore, shareholders overwhelmingly ratified the appointment of PricewaterhouseCoopers LLP as the independent auditor for 2026, a crucial step in maintaining financial transparency and integrity. The advisory vote on executive compensation also received strong approval, suggesting shareholders are generally aligned with the company's approach to compensating its named executive officers. Overall, the meeting results reflect a stable shareholder base that supports the company's established governance and financial oversight.
EXELON CORP 8-K Report, Regulation FD Disclosure (Apr 16, 2026)
Exelon Corporation's subsidiary, PECO Energy Company, has withdrawn its previously filed electric and gas rate proceedings with the Pennsylvania Public Utility Commission (PAPUC). This decision impacts expected capital investments and future regulatory filings, with PECO indicating that decisions will be guided by customer affordability, system reliability, and ongoing stakeholder engagement. Concurrently, the Maryland General Assembly has passed the Maryland Utility RELIEF Act, which, if signed into law, will alter the regulatory framework for cost recovery for Exelon's Maryland utilities: BGE, Pepco, and DPL. In response to these regulatory developments, Exelon plans to redeploy and delay certain capital projects and implement operational efficiencies. Despite these adjustments, the company reaffirms its 2026 Adjusted operating earnings guidance of $2.81-$2.91 per share and its expectation for cumulative annualized Adjusted operating earnings growth from 2025 to 2029 to be near the top end of its 5-7% range. Investors should note that Exelon will provide further updates during its first quarter 2026 earnings call on May 6, 2026.
EXELON CORP 8-K Report, Material Agreement (Feb 20, 2026)
Exelon Corporation (EXC) has announced the successful issuance and sale of $775 million in aggregate principal amount of its 4.950% Notes due 2036. This new debt offering is primarily intended to refinance the Company's maturing $750 million 3.400% Notes due 2026. The net proceeds, combined with existing cash, will cover the principal repayment of the maturing debt, with any remainder allocated for general corporate purposes.
EXELON CORP 8-K Report, Financial Results (Feb 12, 2026)
Exelon Corporation has filed an 8-K on February 12, 2026, to announce its fourth-quarter and full-year 2025 financial results. The filing primarily consists of a press release (Exhibit 99.1) and presentation slides (Exhibit 99.2) that will be used during their earnings conference call. Investors should note that this report is furnished, not filed, with the SEC, meaning it is informational. The company has scheduled its earnings call for February 12, 2026, at 9:00 AM CT. The detailed financial results, operational performance, and forward-looking guidance are expected to be presented during this call. Investors are advised to review the attached exhibits for the specific financial figures and management's commentary on the company's performance and outlook. The filing also reiterates the forward-looking nature of some statements and lists potential risks and uncertainties that could impact future results, a standard disclosure for public companies.
EXELON CORP 8-K/A Report, Executive Changes (Feb 3, 2026)
Exelon Corporation (EXC) has filed an 8-K/A to provide an update regarding committee appointments for its Board of Directors. Specifically, David DeWalt, who was previously appointed to the Board on March 10, 2025, has now been assigned to two key committees. This filing clarifies his role and responsibilities within the Board's structure. Effective April 27, 2026, Mr. DeWalt will serve on the Talent Management and Compensation Committee and the Operations, Safety, and Customer Experience Committee. These appointments are significant as they indicate Mr. DeWalt's involvement in critical areas of corporate governance, including executive compensation, talent development, operational oversight, and customer-facing strategies. Investors should note these appointments as they reflect the company's commitment to diverse board expertise in areas directly impacting performance and shareholder value.
EXELON CORP 8-K Report, Material Agreement (Dec 4, 2025)
Exelon Corporation (EXC) announced the successful completion of a $1 billion offering of 3.25% Convertible Senior Notes due 2029. The offering, which included the full exercise of an option for additional notes, was conducted as a private placement to qualified institutional buyers under Rule 144A. These senior, unsecured notes bear a fixed interest rate of 3.25% and will mature on March 15, 2029, unless converted or repurchased earlier. The net proceeds are estimated at approximately $987.5 million and are intended for debt repayment or general corporate purposes. The conversion feature allows holders to convert notes into cash or a combination of cash and Exelon common stock, with an initial conversion rate of 17.5093 shares per $1,000 principal amount, implying an initial conversion price of approximately $57.11 per share. This conversion price represents a premium of about 25% over the stock's last reported sale price on December 1, 2025. The notes are convertible under certain conditions prior to December 15, 2028, and thereafter at the holder's option. The company may be required to repurchase notes upon a "Fundamental Change" event, with potential for increased conversion rates in the event of a "Make-Whole Fundamental Change."
EXELON CORP 8-K Report, Executive Changes (Nov 26, 2025)
Exelon Corporation (EXC) announced a significant executive leadership change effective January 1, 2026, with the departure of David Glockner, Executive Vice President, Compliance, Audit and Risk. Mr. Glockner's departure is structured under the company's Senior Management Severance Plan, indicating a departure other than for cause. This transition will lead to a realignment of responsibilities within Exelon's senior management team, aiming to integrate key oversight functions more directly with existing executive roles. In response to Mr. Glockner's departure, Exelon is expanding the roles of two key executives. Jeanne Jones, currently Executive Vice President and Chief Financial Officer, will absorb responsibility for the audit and risk departments, becoming Executive Vice President, Chief Finance Officer, Audit and Risk. Concurrently, Colette Honorable, Executive Vice President, Chief Legal Officer and Corporate Secretary, will assume oversight of the compliance department, adding the title Executive Vice President, Chief Legal Officer, Compliance and Corporate Secretary. These changes suggest a strategic effort to streamline governance and risk management functions under the purview of the CFO and CLO, respectively, which could impact operational efficiency and corporate oversight.
EXELON CORP 8-K Report, Regulation FD Disclosure (Nov 24, 2025)
Exelon Corporation (EXC) has filed an 8-K report on November 24, 2025, disclosing important developments regarding a consolidated stockholder derivative action. The company announced that the United States District Court for the Northern District of Illinois granted preliminary approval for a proposed settlement of this litigation, captioned In re Exelon Corporation Derivative Litigation. This settlement, which has been a subject of ongoing discussions and mediation involving the company's Special Litigation Committee and Independent Review Committee, marks a significant step towards resolving these legal proceedings. Investors should note that the full terms of the proposed settlement are detailed in the Stipulation and Agreement of Settlement, which is an exhibit to this filing. The company is also publishing a Notice of Pendency and Proposed Settlement of Consolidated Derivative Action, as mandated by the court's preliminary approval order. While this filing provides an update on the legal matter, it's important to understand that this information is furnished under Regulation FD and is not deemed "filed" for purposes of certain securities laws, nor does it constitute an admission of materiality.
EXELON CORP 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Nov 18, 2025)
Exelon Corporation (EXC) has announced a temporary suspension of trading for participants in its Employee Savings Plan (ESP) due to a vendor change. This "blackout period" is scheduled to commence on December 3, 2025, and is expected to conclude around December 22, 2025. During this time, participants will be unable to make changes to contributions, investments, loans, or withdrawals within their ESP accounts. Furthermore, in compliance with Sarbanes-Oxley Act regulations, Exelon has also notified its directors and executive officers of a trading prohibition on Exelon common stock and related derivative securities. This prohibition applies to any shares or securities acquired in connection with their service or employment and will be in effect during the same Plan Blackout Period. Investors should be aware of these temporary restrictions on employee and insider trading activity.
EXELON CORP 8-K Report, Financial Results (Nov 4, 2025)
Exelon Corporation (EXC) filed an 8-K on November 4, 2025, announcing its financial and operational results for the third quarter ended September 30, 2025. The filing includes a press release and presentation slides, made available for investors to review and discuss during their scheduled earnings conference call. While the specific financial figures for the quarter are not detailed within the 8-K text itself, the report signifies Exelon's commitment to transparent and timely communication with its stakeholders. Investors are directed to the attached exhibits for the comprehensive earnings details and future outlook. The report also reiterates a standard cautionary note regarding forward-looking statements, highlighting various risks and uncertainties that could materially impact future performance, including regulatory actions, market conditions, and operational challenges.
EXELON CORP 8-K Report, Financial Results (Jul 31, 2025)
Exelon Corporation (EXC) has filed a Form 8-K on July 31, 2025, to report its second-quarter financial results for the period ended June 30, 2025. This filing primarily consists of a press release (Exhibit 99.1) and presentation slides (Exhibit 99.2) that were used during the company's earnings conference call. These documents provide the details of Exelon's performance and outlook for the quarter, including any material updates that may affect the company's financial condition or results of operations. Investors are encouraged to review the attached exhibits for comprehensive information, as the 8-K itself is a notification filing referencing these more detailed disclosures. The company has also included standard cautionary language regarding forward-looking statements, highlighting various risks and uncertainties that could impact future performance.
EXELON CORP 8-K Report, Shareholder Vote Results (May 5, 2025)
Exelon Corporation (EXC) filed an 8-K on May 5, 2025, detailing the results of its Annual Meeting of Shareholders held on April 29, 2025. The filing indicates strong shareholder support for the re-election of all director nominees, with each receiving over 94% of the votes cast. Additionally, shareholders overwhelmingly ratified the appointment of PricewaterhouseCoopers LLP as the independent auditor for 2025 and approved, on an advisory basis, the compensation of the Company's named executive officers, with both proposals receiving approximately 90% of the votes cast in favor. The voting outcomes suggest broad alignment between management and shareholders on corporate governance and executive compensation matters. The high approval margins for director elections and auditor ratification provide a stable foundation for the company's ongoing operations and strategic initiatives. Investors can take comfort in the demonstrated shareholder confidence in the Board of Directors and the company's financial oversight.
EXELON CORP 8-K Report, Material Agreement (May 2, 2025)
Exelon Corporation has entered into an Equity Distribution Agreement establishing an at-the-market (ATM) equity distribution program. This allows the company to offer and sell up to $2.5 billion of its common stock over time through a syndicate of sales agents. The program also includes provisions for forward sale agreements, where Exelon may receive proceeds upon future settlement of these arrangements. This strategic move provides Exelon with significant financial flexibility to access capital. The proceeds are intended for general corporate purposes, including debt repayment. While the company has the option to sell shares, it is not obligated to do so, and can suspend or terminate the program at any time. The offering is being made under Exelon's existing shelf registration statement.
EXELON CORP 8-K Report, Financial Results (May 1, 2025)
Exelon Corporation (EXC) has filed a Form 8-K on May 1, 2025, to report its financial results for the first quarter ended March 31, 2025. This filing primarily includes the press release and presentation slides related to the earnings announcement and conference call. While the specific financial figures and performance metrics are not detailed within the text of the 8-K itself, these documents (Exhibits 99.1 and 99.2) are crucial for investors seeking to understand the company's performance, operational highlights, and forward-looking guidance. The report emphasizes that the information is furnished, not filed, and contains forward-looking statements subject to various risks and uncertainties. Investors should carefully review the attached press release and presentation for detailed financial outcomes, management commentary, and any strategic updates. The company has scheduled a conference call for May 1, 2025, to discuss these results further.
EXELON CORP 8-K Report, Executive Changes (Mar 10, 2025)
Exelon Corporation announced a significant addition to its Board of Directors with the immediate appointment of David DeWalt as an independent director, effective March 10, 2025. This move signals a potential enhancement to the company's governance and strategic oversight. While Mr. DeWalt's committee assignments are pending, his appointment as an independent director is a key development for shareholders to monitor as it could influence future board decisions and committee focus areas. Investors should anticipate further details regarding his specific contributions and committee roles in upcoming filings.
EXELON CORP 8-K Report, Material Agreement (Feb 21, 2025)
Exelon Corporation (EXC) has filed an 8-K report detailing the issuance and sale of $1.0 billion in aggregate principal amount of notes. This issuance includes $500 million of 5.125% Notes due 2031 and $500 million of 5.875% Notes due 2055. The net proceeds from this offering, along with existing cash, will be utilized to repay approximately $464 million of outstanding commercial paper borrowings. The remaining proceeds are allocated for general corporate purposes, indicating a strategic move to refinance existing debt and strengthen the company's balance sheet.
EXELON CORP 8-K Report, Corporate Update (Feb 19, 2025)
Exelon Corporation (EXC) announced the successful closing of a public offering and sale of $1 billion in aggregate principal amount of its 6.500% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2055 on February 19, 2025. The net proceeds, approximately $990 million after underwriting discounts, will be used by the company. These notes carry a fixed interest rate of 6.500% until March 15, 2035, after which the rate will reset every five years based on the Five-year U.S. Treasury Rate plus a spread of 1.975%. Key features of these junior subordinated notes include the company's option to defer interest payments under certain conditions and the possibility of redemption by Exelon. This issuance represents a significant financing event for Exelon, aimed at funding its operations or strategic initiatives. Investors should note the subordinated nature of these notes, their long maturity, and the variable interest rate component after the initial fixed period.
EXELON CORP 8-K Report, Financial Results (Feb 12, 2025)
Exelon Corporation (EXC) has filed a Form 8-K on February 12, 2025, to announce its fourth-quarter and full-year 2024 financial results. The filing primarily consists of a press release and presentation slides, serving as a disclosure mechanism under Regulation FD and for reporting financial outcomes. Investors should note that this report does not contain detailed financial statements but rather directs them to accompanying exhibits for the specific earnings data and forward-looking statements. Exelon has scheduled an investor call for the same day to discuss these results and expects to provide further insights into its operational and financial performance. The company also reiterates standard cautionary statements regarding forward-looking information, emphasizing the inherent risks and uncertainties associated with its business, including regulatory, environmental, and market factors.
EXELON CORP 8-K Report, Executive Changes (Dec 3, 2024)
Exelon Corporation (EXC) announced a key leadership transition effective January 1, 2025, impacting its Chief Legal Officer and Corporate Secretary role. Gayle Littleton will be stepping down from her executive vice president, chief legal officer, and corporate secretary positions. She will transition to a Senior Advisor role to the CEO until her departure from the company on March 31, 2025. Ms. Littleton's departure is expected to follow the terms of the Senior Management Severance Plan for a termination not for cause. Colette Honorable, currently Executive Vice President of Public Policy and Chief External Affairs Officer, will assume expanded responsibilities to include leadership of the legal department, taking on the role of Chief Legal Officer and Corporate Secretary. Ms. Honorable will continue to oversee federal policy, regulatory affairs, and corporate giving, consolidating significant oversight under one executive. The company also issued a press release on December 3, 2024, detailing this executive leadership team consolidation.
EXELON CORP 8-K Report, Financial Results (Oct 30, 2024)
Exelon Corporation (EXC) filed an 8-K on October 30, 2024, to report its third-quarter financial results for the period ended September 30, 2024. This filing includes a press release and presentation slides from their earnings conference call, both furnished as exhibits. While the specific financial figures are not detailed within the 8-K text itself, the report signals that Exelon has shared its Q3 2024 performance with investors and the market. Investors should note that this report primarily serves as a notification of the earnings release and the availability of associated materials. The detailed financial performance, including revenue, earnings per share, and operational metrics, will be found in the attached Exhibit 99.1 (press release) and Exhibit 99.2 (presentation slides). The company has scheduled a conference call to discuss these results further, offering an opportunity for investors to gain deeper insights and ask questions.
EXELON CORP 8-K Report, Material Agreement (Aug 29, 2024)
Exelon Corporation (EXC) and its key utility subsidiaries, including Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas & Electric Company (BGE), and the PHI Utilities (Pepco, Delmarva Power & Light, and Atlantic City Electric), have entered into five-year amended and restated revolving credit facilities. These new agreements, executed on August 29, 2024, with JPMorgan Chase Bank as the administrative agent, collectively provide substantial liquidity to support commercial paper issuances and letter of credit requirements across the Exelon enterprise. The total aggregate commitment across these facilities amounts to $4.1 billion, offering financial flexibility and ensuring ongoing operational support. These credit facilities are crucial for maintaining the financial health and operational capacity of Exelon and its regulated utilities. The renewed agreements maintain covenants and events of default largely consistent with prior arrangements, indicating a stable credit framework. The five-year tenor, with provisions for one-year extensions, provides a predictable financing horizon. Investors should view these updated credit facilities as a positive step in reinforcing the companies' access to capital, which is essential for their capital-intensive utility operations and ongoing investments in infrastructure and energy services.
EXELON CORP 8-K Report, Financial Results (Aug 1, 2024)
Exelon Corporation (EXC) has filed an 8-K report on August 1, 2024, to announce its second-quarter 2024 financial results. The filing includes a press release (Exhibit 99.1) and presentation slides (Exhibit 99.2) for the earnings conference call. While the 8-K itself does not provide specific financial figures, it directs investors to these attached exhibits for detailed operational and financial performance data for the quarter ended June 30, 2024. Investors should refer to the press release and presentation slides for comprehensive insights into Exelon's earnings, performance metrics, and outlook. The company has scheduled a conference call for August 1, 2024, to discuss these results further, with registration details available on their Investor Relations website. The filing also contains standard forward-looking statements and disclaimers regarding the inherent risks and uncertainties associated with future projections.
EXELON CORP 8-K Report, Shareholder Vote Results (May 3, 2024)
This 8-K filing from Exelon Corporation details the results of their Annual Meeting of Shareholders held on April 30, 2024. The key takeaway for investors is the strong shareholder support for the company's proposed actions, including the election of all director nominees, the ratification of PricewaterhouseCoopers LLP as the independent auditor, and the approval of executive compensation on an advisory basis. Additionally, shareholders approved an amendment to the Articles of Incorporation to allow for a 25% ownership threshold to call a special meeting, indicating broad agreement with the company's governance and operational direction. Notably, a shareholder proposal advocating for a lower threshold to call special meetings was not approved. This suggests that the majority of shareholders are comfortable with the current or newly amended structure for special meeting calls, reflecting confidence in the board's ability to manage shareholder engagement. The overwhelming approval percentages across most proposals underscore a positive sentiment among shareholders regarding Exelon's leadership and its strategic path forward.
EXELON CORP 8-K Report, Financial Results (May 2, 2024)
Exelon Corporation filed an 8-K on May 2, 2024, to announce its first-quarter 2024 financial results. The filing primarily consists of a press release (Exhibit 99.1) and presentation slides (Exhibit 99.2) for the earnings conference call. These documents provide details on the company's operational and financial performance for the quarter ended March 31, 2024. While the 8-K itself does not contain the detailed financial tables, it directs investors to the attached exhibits for this information and mentions the scheduled earnings call for further discussion. Investors should review the attached press release and presentation for specific financial metrics, operational updates, and management's outlook. The filing also includes standard cautionary language regarding forward-looking statements, reminding investors that actual results may differ due to various risks and uncertainties detailed in Exelon's other SEC filings, including their 2023 10-K and the forthcoming Q1 2024 10-Q.
EXELON CORP 8-K/A Report, Executive Changes (Mar 6, 2024)
This 8-K/A filing from Exelon Corporation primarily serves to update information previously disclosed regarding the appointment of Bryan Segedi to the Board of Directors. While Mr. Segedi's election was effective January 1, 2024, this amendment clarifies his committee assignments. Investors should note that Mr. Segedi will be appointed to the Audit and Risk Committee, effective April 30, 2024.
EXELON CORP 8-K Report, Material Agreement (Feb 27, 2024)
On February 27, 2024, Exelon Corporation (EXC) announced a significant debt financing transaction, issuing $1.7 billion in aggregate principal amount of senior notes. This issuance includes $650 million of 5.150% notes due 2029, $650 million of 5.450% notes due 2034, and an additional $400 million of 5.600% notes due 2053. The company entered into a Seventh Supplemental Indenture to facilitate this issuance, amending its existing Base Indenture. The primary purpose of this debt issuance is to refinance existing obligations. Specifically, a portion of the net proceeds will be used to repay $500 million of a term loan maturing in April 2024 and approximately $689 million of commercial paper borrowings. This strategic refinancing aims to manage the company's debt maturity profile and potentially reduce borrowing costs given the stated interest rates on the commercial paper. The remaining proceeds are designated for general corporate purposes, providing Exelon with financial flexibility.
EXELON CORP 8-K Report, Financial Results (Feb 21, 2024)
Exelon Corporation (EXC) filed an 8-K on February 21, 2024, to report its fourth-quarter and full-year 2023 financial results. While the 8-K itself does not contain the specific financial figures, it serves as notification that the company has released its earnings, accompanied by a press release (Exhibit 99.1) and presentation slides (Exhibit 99.2). These documents detail the company's operational and financial performance for the period ending December 31, 2023. Investors should refer to the press release and presentation slides for detailed financial metrics, performance analysis, and forward-looking statements. The 8-K emphasizes that these disclosures are furnished, not filed, and include forward-looking statements subject to risks and uncertainties as outlined in previous SEC filings. Exelon has scheduled a conference call for February 21, 2024, to discuss these results, providing an opportunity for investors and media to engage with management.
EXELON CORP 8-K Report, Executive Changes (Feb 6, 2024)
Exelon Corporation (EXC) announced a significant executive transition effective April 1, 2024. Michael Innocenzo, currently President and CEO of PECO Energy Company, will be promoted to Executive Vice President and Chief Operating Officer of Exelon. This move brings a seasoned executive with extensive experience at PECO, including his recent role since 2018, into a key operational leadership position at the parent company. In conjunction with his new role, Mr. Innocenzo's compensation package has been detailed, including a base salary of $685,000, an annual incentive target of 90% of his base salary, and a long-term incentive target valued at $1,765,000. The long-term incentives will comprise performance share awards and restricted stock units, with payouts contingent on achieving pre-established performance targets. Additionally, Mr. Innocenzo will be appointed to the Board of Directors of Commonwealth Edison Company (ComEd), while current CEO Calvin G. Butler, Jr. will step down from the ComEd board. David Velazquez will transition from his role as EVP of Utility Operations and Technology to become the new President and CEO of PECO.
EXELON CORP 8-K Report, Corporate Update (Dec 18, 2023)
This 8-K filing provides updates on regulatory decisions impacting Exelon's subsidiaries, Commonwealth Edison (ComEd) and Baltimore Gas and Electric (BGE), regarding their multi-year rate plans. For ComEd, the Illinois Commerce Commission (ICC) issued a modified order approving lower revenue increases than initially requested and rejected ComEd's Grid Plan, requiring a resubmission. The approved rate increases are significantly reduced, and ComEd plans to seek rehearing on several key issues, including the Return on Equity (ROE) and capital structure. For BGE, the Maryland Public Service Commission (MDPSC) approved revenue increases for both electric and gas services that are lower than requested but represent a notable increase for customers. Both subsidiaries received lower ROEs than proposed. Despite these regulatory outcomes, Exelon reaffirms its 2023 adjusted earnings per share guidance.
EXELON CORP 8-K/A Report, Executive Changes (Dec 8, 2023)
This 8-K filing from Exelon Corporation (EXC) on December 8, 2023, provides an update on committee assignments for recently elected Board of Directors members. Specifically, Charisse Lillie has been appointed to the Talent Management and Compensation Committee, while Matthew Rogers and Anna Richo have both been appointed to the Audit and Risk Committee. These appointments follow their initial election to the Board in April and August of 2023, respectively. Investors should note that these committee assignments are a routine governance update. The Talent Management and Compensation Committee oversees executive compensation and human capital matters, while the Audit and Risk Committee plays a critical role in financial oversight, internal controls, and risk management. The additions to these key committees reflect the ongoing evolution of Exelon's governance structure.
EXELON CORP 8-K Report, Executive Changes (Dec 6, 2023)
Exelon Corporation announced a change to its Board of Directors via an 8-K filing on December 6, 2023. The Board's size has been increased to ten members, and Bryan Segedi has been elected as a director, effective January 1, 2024. Mr. Segedi will serve until the 2024 annual meeting of shareholders. This appointment brings fresh perspectives to the board as the company navigates the evolving energy landscape. Investors should note that the specific committee assignments for Mr. Segedi are yet to be determined, and his compensation will align with the standard director compensation as previously disclosed in Exelon's proxy statements.
EXELON CORP 8-K Report, Financial Results (Nov 2, 2023)
Exelon Corporation (EXC) filed an 8-K on November 2, 2023, to report its third-quarter 2023 financial results and related materials. The filing includes a press release (Exhibit 99.1) detailing the company's performance and presentation slides (Exhibit 99.2) for its earnings conference call. This report serves to inform investors about the company's operational and financial condition for the period ended September 30, 2023. While the specific financial figures are not detailed within the 8-K text itself, the filing indicates that detailed results and operational updates are provided in the attached exhibits. The company also provided information on its upcoming earnings conference call, scheduled for November 2, 2023, allowing investors to participate and ask questions. The filing also includes standard forward-looking statement disclaimers, cautioning investors about the inherent risks and uncertainties in such projections.
EXELON CORP 8-K Report, Corporate Update (Sep 28, 2023)
Exelon Corporation and its subsidiary Commonwealth Edison Company have reached a settlement with the Securities and Exchange Commission (SEC), bringing to a close an investigation that began in July 2020. This settlement resolves all outstanding matters related to conduct previously disclosed in a deferred prosecution agreement that Commonwealth Edison successfully exited in July 2023. Under the terms of the settlement, the companies have agreed to pay a civil penalty of $46.2 million. Exelon had already accrued this amount in the second quarter of 2023, meaning it has no unexpected financial impact on current or future reported earnings. The SEC's order acknowledges the companies' full cooperation and the significant enhancements made to their compliance programs.
EXELON CORP 8-K Report, Financial Results (Aug 2, 2023)
Exelon Corporation (EXC) filed an 8-K on August 2, 2023, to announce its second quarter 2023 financial results. The filing primarily consists of a press release (Exhibit 99.1) and presentation slides (Exhibit 99.2) detailing the company's performance and outlook. While the 8-K itself does not contain the detailed financial figures, it directs investors to the press release and upcoming 10-Q filing for comprehensive information. Key takeaways for investors revolve around the company's operational and financial performance for the quarter, which will be discussed in greater detail during the scheduled earnings conference call. The filing also reminds investors about the inherent risks and uncertainties associated with forward-looking statements, encouraging them to refer to previously filed reports and the upcoming 10-Q for a complete understanding of potential risks and material factors.
EXELON CORP 8-K Report, Executive Changes (Jul 27, 2023)
Exelon Corporation (EXC) announced a change to its Board of Directors on July 27, 2023, via an 8-K filing. The size of the board was increased to nine members with the election of Anna Richo as a director, effective August 1, 2023. Ms. Richo will serve until the 2024 annual meeting of shareholders and will receive standard director compensation. This board expansion and appointment suggest a strategic move by Exelon, potentially to bring in new expertise or perspectives as the company navigates its operational and financial landscape. Investors should monitor future filings for committee assignments and any strategic shifts associated with Ms. Richo's inclusion on the board.
EXELON CORP 8-K Report, Corporate Update (Jun 16, 2023)
This 8-K filing by Exelon Corporation (EXC) on June 16, 2023, details the proposed settlement of derivative lawsuits filed by shareholders. These lawsuits, stemming from conduct related to ComEd's July 2020 Deferred Prosecution Agreement with the Department of Justice, alleged breaches of fiduciary duties by current and former Exelon and ComEd officers, employees, and directors, as well as third parties. The company's Special Litigation Committee (SLC), appointed in 2021, has been investigating these claims and has reached an agreement in principle with the plaintiffs.
EXELON CORP 8-K Report, Executive Changes (Jun 15, 2023)
Exelon Corporation (EXC) filed an 8-K report on June 15, 2023, primarily announcing a change in its principal accounting officer. Joseph R. Trpik Jr., Senior Vice President, Corporate Controller, and principal accounting officer, will depart the company on June 29, 2023. This executive transition is noted as the key event in the filing. Effective June 30, 2023, Robert A. Kleczynski, currently Senior Vice President and General Tax Officer, will assume the expanded role of Senior Vice President, Corporate Controller, and Tax, also serving as the principal accounting officer. His compensation package for this new role has been detailed, including a base salary, annual incentive target, and long-term incentive awards, which align with the company's existing incentive plans.
EXELON CORP 8-K Report, Regulation FD Disclosure (Jun 5, 2023)
Exelon Corporation filed an 8-K on June 5, 2023, primarily to disclose an investor presentation made available on its Investor Relations website. This presentation, furnished as Exhibit 99.1, is intended to provide updated information to investors. While not deemed "filed" for regulatory purposes under Section 18 of the Exchange Act, it serves as a communication channel for the company to share potentially material information. Investors should review the investor presentation for insights into Exelon's current strategy, operational performance, and financial outlook. The filing itself does not contain new financial statements or detailed operational updates but directs stakeholders to the supplemental presentation for such information. The inclusion of XBRL data indicates a commitment to transparency in data reporting.
EXELON CORP 8-K Report, Financial Results (May 3, 2023)
Exelon Corporation filed an 8-K on May 3, 2023, to announce its first-quarter 2023 financial results. The report primarily directs investors to the accompanying press release (Exhibit 99.1) and presentation slides (Exhibit 99.2) for detailed financial performance and operational updates. While specific financial figures are not included in the 8-K text provided, the filing signifies that Exelon has met its reporting obligations regarding its quarterly earnings. Investors are encouraged to review the attached documents for a comprehensive understanding of the company's performance, strategic initiatives, and outlook. The filing also serves as a reminder of the forward-looking nature of many of the company's statements and directs readers to previously filed documents, including the 2022 Form 10-K and the upcoming First Quarter 2023 Form 10-Q, for a thorough discussion of potential risks and uncertainties that could affect actual results. Investors should exercise caution and not place undue reliance on these forward-looking statements, as the company does not undertake an obligation to update them publicly after the filing date.
EXELON CORP 8-K Report, Shareholder Vote Results (Apr 27, 2023)
Exelon Corporation (EXC) filed an 8-K on April 27, 2023, to report the outcomes of its Annual Meeting of Shareholders held on April 25, 2023. The primary outcomes included the election of all eight director nominees to the Board of Directors for one-year terms and the ratification of PricewaterhouseCoopers LLP as the company's independent auditor for 2023. Additionally, shareholders approved, on an advisory basis, the compensation of named executive officers ('Say-on-Pay') and the frequency of future 'Say-on-Pay' votes, with the board determining to continue holding the advisory vote annually based on strong shareholder support. This filing is important for investors as it confirms the continuity of the board's leadership and the company's oversight of financial reporting through the ratification of its auditor. The strong shareholder approval for both executive compensation and the annual frequency of such votes indicates general alignment between management and shareholders on compensation practices. The overwhelming vote in favor of an annual 'Say-on-Pay' frequency demonstrates a clear preference from shareholders for ongoing advisory input on executive remuneration.
EXELON CORP 8-K Report, Material Agreement (Feb 21, 2023)
Exelon Corporation (EXC) announced on February 21, 2023, the successful issuance and sale of $2.5 billion in aggregate principal amount of notes. This offering includes three tranches: $1 billion of 5.150% Notes due 2028, $850 million of 5.300% Notes due 2033, and $650 million of 5.600% Notes due 2053. The proceeds from this debt issuance will be strategically used to refinance existing debt, specifically repaying $850 million of term loans maturing in July 2023 and $588 million of commercial paper borrowings. This proactive debt management is aimed at optimizing the company's capital structure and managing interest rate exposure. The remainder of the net proceeds will be allocated for general corporate purposes, providing flexibility for ongoing operations and strategic initiatives. This move by Exelon signifies a significant step in managing its debt maturity profile and interest expenses. By issuing new notes at fixed rates, the company is likely hedging against potential future increases in interest rates, particularly given the variable rate on the term loans being repaid. Investors should note the specific interest rates and maturity dates of the new notes, which provide a clear picture of the company's future fixed interest payment obligations. This issuance is a key financial maneuver that will impact the company's balance sheet and future cash flows related to debt servicing.
EXELON CORP 8-K Report, Regulation FD Disclosure (Feb 17, 2023)
Exelon Corporation (EXC) filed an 8-K on February 17, 2023, primarily to disclose an investor presentation that was posted on its Investor Relations website. This presentation, furnished as Exhibit 99.1, contains information relevant to investors. However, it's important to note that this information is furnished under Regulation FD and is not considered 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934, nor is it incorporated by reference into other SEC filings. Investors should review this presentation for the latest company insights and strategic updates.
EXELON CORP 8-K Report, Executive Changes (Feb 14, 2023)
Exelon Corporation (EXC) filed an 8-K on February 14, 2023, primarily announcing changes to its Board of Directors. Notably, Paul Joskow will retire from the Board effective at the 2023 annual meeting of shareholders due to reaching the mandatory retirement age. Additionally, directors Ann Berzin and Carlos Gutierrez will not seek reelection at the upcoming annual meeting. These departures will result in a reduction of the Board's size from nine to eight directors. In connection with these changes, Exelon intends to nominate Charisse R. Lillie and Matthew C. Rogers for election to the Board at the 2023 annual meeting. Both nominees have been determined to be independent under Nasdaq and Exelon's standards. Investors should note that committee assignments for the new directors are yet to be determined and will be disclosed later. This filing does not contain significant financial updates but focuses on corporate governance and board composition.
EXELON CORP 8-K Report, Financial Results (Feb 14, 2023)
Exelon Corporation filed an 8-K on February 14, 2023, to report its fourth-quarter and full-year 2022 financial results. The filing primarily serves as notification of the earnings release and provides access to the accompanying press release and presentation slides. While specific financial figures are not detailed within the 8-K itself, these documents are crucial for investors to understand Exelon's performance, profitability, and operational highlights for the period. Investors should refer to the attached Exhibit 99.1 (press release and earnings release attachments) and Exhibit 99.2 (presentation slides) for detailed financial data and management commentary. The filing also reiterates the risks and uncertainties that could affect future financial performance, referencing previous SEC filings. Exelon has scheduled a conference call for February 14, 2023, to discuss these results, providing an opportunity for investors to engage with management and ask questions.
EXELON CORP 8-K Report, Corporate Update (Feb 1, 2023)
Exelon Corporation, through its subsidiary Commonwealth Edison Company (ComEd), announced a significant development regarding its franchise agreement in Chicago. On February 1, 2023, an ordinance was expected to be introduced to the Chicago City Council that, if approved, would grant ComEd a new 15-year license to provide electric utility services within the city, replacing the existing 1992 agreement. This new license, along with a related Energy and Equity Agreement (EEA), would have terms extending to December 31, 2037, with a potential five-year extension. A key aspect for investors is the financial commitment ComEd would make under the EEA. ComEd is expected to fund a new non-profit entity with $90 million between 2023 and 2026, not recoverable through customer rates, and an additional $20 million if the license is extended. Furthermore, ComEd would commit $10 million to workforce development, with a potential additional $10 million payment if those funds are recovered in rates. The agreements also include provisions for the City of Chicago to acquire ComEd's utility facilities under certain conditions and compensation terms.
EXELON CORP 8-K Report, Regulation FD Disclosure (Jan 17, 2023)
Commonwealth Edison Company (ComEd), a subsidiary of Exelon Corporation, has filed a petition with the Illinois Commerce Commission (ICC) to implement a Multi-Year Rate Plan for 2024-2027. This plan is designed to support significant planned investments in ComEd's electric distribution system through a Multi-Year Grid Plan, also filed on January 17, 2023. The proposed rate increases are structured to escalate annually, beginning with $3.76 billion in 2024 and reaching $4.35 billion by 2027, reflecting requested returns on common equity ranging from 10.50% to 10.65%. Investors should note that the ICC will conduct a review of these plans, with a decision expected by mid-December 2023. The filing also includes a request for a phased-in recovery of the 2024 rate increase, with 35% deferred for recovery in 2026. While the proposed plans outline significant capital investment, the ultimate outcome is subject to regulatory approval and potential intervention from other parties, introducing an element of uncertainty for future revenue streams.
EXELON CORP 8-K Report, Corporate Update (Dec 27, 2022)
Exelon Corporation (EXC) has announced an extension of its exchange offers for its unregistered notes. The company is offering to exchange approximately $2.0 billion in aggregate principal amount of unregistered notes, issued privately in March 2022, for an equal principal amount of registered notes. This action aims to bring the company's outstanding debt into compliance with registration requirements, providing greater transparency and potentially broader investor access to these securities. The exchange offers, originally set to expire earlier, have now been extended and will close on January 6, 2023, unless further extended. Investors holding the unregistered notes should be aware of this new deadline to participate in the exchange. The company has provided a press release detailing this extension, which is incorporated into the filing.
EXELON CORP 8-K/A Report, Executive Changes (Dec 12, 2022)
This 8-K filing from Exelon Corporation announces significant leadership changes and associated compensation adjustments. Effective December 31, 2022, Calvin Butler will transition into the roles of President and Chief Executive Officer. This appointment marks a key leadership transition for the company. In conjunction with his new role, Mr. Butler's compensation package has been formalized. This includes a base salary of $1,250,000, an annual incentive plan target of 140% of base salary, and a long-term incentive target award valued at $8,000,000 for the 2023-2025 cycle. The LTI award is structured with performance shares and restricted stock units, emphasizing a performance-based approach. Additional arrangements include provisions for personal aircraft use and temporary housing, reflecting the executive's relocation to the company's headquarters.
EXELON CORP 8-K Report, Financial Results (Nov 3, 2022)
This 8-K filing from Exelon Corporation (EXC) on November 3, 2022, primarily announces the company's financial and operational results for the third quarter ended September 30, 2022. The filing includes a press release and presentation slides, which provide detailed financial information and management commentary. Investors should review these attached exhibits for a comprehensive understanding of Exelon's performance during the period. The company has scheduled an investor conference call to discuss these results, offering an opportunity for participants to ask questions and for media to listen in. The information provided in this report is furnished, not filed, with the SEC and includes forward-looking statements subject to various risks and uncertainties as detailed in Exelon's previous SEC filings. Investors are advised to consult these documents for a complete risk assessment.