01—Abstract
Summary
Summary of the 10-K/A filed April 28, 2000. Cited figures are marked; the original filing is the authoritative source.
This is Amendment No. 1 (Form 10-K/A) to FirstEnergy Corp.'s annual report for fiscal year 1999.
It is a combined filing for FirstEnergy and four subsidiaries: Ohio Edison, Cleveland Electric Illuminating, Toledo Edison, and Pennsylvania Power. The amendment does not provide financial statements or operating results. Its only substantive change is an updated Executive Officers section in Item 1, which adds an officer omitted from the original filing.
The financial results, including earnings, balance sheet, and cash flow data, are incorporated by reference from the FirstEnergy 1999 Annual Report to Stockholders (pages 16-47), which is not part of this document. The filing shows a leadership transition. H.
P. Burg became Chairman and Chief Executive Officer in 2000, and A. J.
Alexander became President in 2000 after serving as Executive Vice President and General Counsel. Several executives have moved into new roles, including L. L.
Vespoli as Vice President and General Counsel. The company reported 13,461 employees at December 31, 1999 across its nonutility subsidiaries and the utility operating companies. FirstEnergy had 231,119,841 common shares outstanding as of March 24, 2000.
The aggregate market value of stock held by non-affiliates was approximately $4.24 billiona as of March 10, 2000. For investors, the key takeaway is that this amendment is administrative. Investors who need earnings, debt, dividend, or regulatory information should review the incorporated Annual Report and the full original 10-K.
02—Key points
Key Highlights
- Form 10-K/A Amendment No. 1 for fiscal year ended December 31, 1999, covering FirstEnergy Corp. and four subsidiaries (Ohio Edison, Cleveland Electric Illuminating, Toledo Edison, Pennsylvania Power)
- The amendment only updates the Executive Officers section of Item 1 to add an officer omitted from the original filing; it contains no financial statements
- Financial results are incorporated by reference from the 1999 Annual Report to Stockholders (pages 16-47) and are not included in this document
- Leadership change: H. P. Burg is Chairman and CEO (2000-present), and A. J. Alexander is President (2000-present)
- Non-affiliate market value of common stock was approximately $4.24 billion as of March 10, 2000
- FirstEnergy had 231,119,841 common shares outstanding as of March 24, 2000
- Total workforce of 13,461 employees at December 31, 1999, including FENOC (2,278) and FE Facilities (3,383)
03—Questions
Frequently Asked Questions
Does this amendment contain FirstEnergy's 1999 financial results?
No. The financial statements and results are incorporated by reference from the 1999 Annual Report to Stockholders (pages 16-47). This amendment only updates the Executive Officers section of Item 1.
Why was this 10-K/A filed?
It amends Item 1 to update the Executive Officers section on pages 11-13 to include an officer who was not listed in the original filing.
Who leads FirstEnergy, and what changed?
H. P. Burg serves as Chairman and CEO, a role he took in 2000, after serving as President and CEO from 1999 to 2000. A. J. Alexander became President in 2000, having previously been Executive Vice President and General Counsel.
How many shares and how much stock value do non-affiliates hold?
FirstEnergy had 231,119,841 common shares outstanding at March 24, 2000. The aggregate market value of voting stock held by non-affiliates was $4,238,859,520 as of March 10, 2000.
How large is the workforce?
As of December 31, 1999, the nonutility subsidiaries and operating companies had 13,461 employees. The largest groups were FE Facilities (3,383), FENOC (2,278), and Company (1,942).
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