8-KLeadership ChangesSecurities & Listing

SOUTHERN CO 8-K Report, Listing Notice (Oct 19, 2009)

Filed October 19, 2009For Securities:SOSOJESOJFSOJCSOJDSOMN

Summary

Southern Company (SO) has filed an 8-K report on October 19, 2009, addressing two key items pertinent to its stock listing and corporate governance. The company previously received notice from the NYSE regarding a deficiency in its Audit Committee's membership, falling below the required minimum of three members due to a director's resignation. However, the company has since rectified this issue by appointing Mr. Jon A. Boscia to the Audit Committee on October 19, 2009, bringing the committee back into compliance with NYSE listing standards.

Key Highlights

  • 1Southern Company's Audit Committee temporarily fell below the NYSE's minimum membership requirement of three members.
  • 2The deficiency was caused by the resignation of a director on October 7, 2009.
  • 3On October 19, 2009, Mr. Jon A. Boscia was appointed to the Audit Committee, resolving the deficiency.
  • 4The company has notified the NYSE of the corrective action and is now in compliance with listing standards.
  • 5The NYSE is expected to take no further action regarding this matter.
  • 6Mr. Henry A. Clark III was elected as a new member of the Board of Directors, effective October 19, 2009.
  • 7Mr. Clark has been appointed to the Finance Committee and the Compensation and Management Succession Committee.

Frequently Asked Questions

Southern Company's Audit Committee temporarily had only two members following the resignation of a director on October 7, 2009, which is below the NYSE's requirement of a minimum of three members for such committees.

The company addressed the deficiency by appointing Mr. Jon A. Boscia, a current Board member, to the Audit Committee on October 19, 2009. This action restored the committee to the required three-member minimum.

No, Southern Company has notified the NYSE of the corrective actions taken and is now in compliance with all listing standards. The company expects no further action from the NYSE on this matter.

Yes, Mr. Henry A. Clark III was elected as a new member of the Board of Directors, effective October 19, 2009. He was also appointed to serve on the Company's Finance Committee and Compensation and Management Succession Committee.