8-KLeadership Changes

Vistra Corp. 8-K Report, Executive Changes (Jul 14, 2017)

Filed July 14, 2017For Securities:VST

Summary

This 8-K filing from Vistra Corp. (VST), dated July 14, 2017, announces a significant addition to its Board of Directors. The company has elected Scott Helm to the Board, increasing its size to eight directors. Mr. Helm brings substantial experience in the energy sector, having been a founding partner of Energy Capital Partners and previously serving as CFO of Orion Power Holdings. His appointment is effective immediately and he will serve until the 2020 annual meeting, also joining the Audit Committee. Mr. Helm's appointment is expected to strengthen the Board's expertise, particularly in financial matters and energy infrastructure investment, which is crucial for a company like Vistra Energy. Investors should note that Mr. Helm's background as a private equity partner and former CFO suggests a keen understanding of financial strategy and operational efficiency. His compensation for board service includes restricted stock units valued at $100,000 and an annual cash retainer of $95,000, aligning his interests with those of shareholders.

Key Highlights

  • 1Vistra Corp. elected Scott Helm to its Board of Directors, increasing the board size to eight members.
  • 2Mr. Helm's appointment is effective immediately and he will serve until the company's 2020 annual meeting.
  • 3Mr. Helm brings extensive experience in the energy sector, including roles at Energy Capital Partners and as CFO of Orion Power Holdings.
  • 4He has been appointed as a member of the company's Audit Committee.
  • 5Mr. Helm's compensation includes a $100,000 restricted stock unit grant and an annual cash retainer of $95,000.
  • 6There are no disclosed arrangements or understandings, or related person transactions between Mr. Helm and Vistra Corp.

Frequently Asked Questions

Scott Helm's appointment is significant due to his extensive experience in energy infrastructure investment and corporate finance, particularly his role as a founding partner of Energy Capital Partners and former CFO of Orion Power Holdings. His expertise is expected to benefit Vistra Corp.'s strategic direction and financial oversight, especially with his appointment to the Audit Committee.

Mr. Helm will receive a grant of restricted stock units valued at $100,000 on the date of grant, based on Vistra Corp.'s public trading price. He will also receive an annual cash retainer of $95,000 for his service as a director and Audit Committee member.

According to the filing, there are no disclosed arrangements or understandings between Mr. Helm and any other person regarding his selection as a director. Furthermore, there are no related person transactions between Mr. Helm and Vistra Corp. within the meaning of SEC Regulation S-K.

Scott Helm is a private investor. Previously, he was a founding partner of Energy Capital Partners, a private equity firm focused on North American energy infrastructure. Before that, from 1998 to 2002, he served as executive vice president and chief financial officer of Orion Power Holdings, Inc., a power plant owner and operator.