Summary
Vistra Corp. (VST) announced on November 15, 2017, an upcoming annual tax payment related to its Tax Receivable Agreement (TRA) executed on October 3, 2016. This payment, totaling approximately $25.9 million, is for the 2016 taxable year and will be distributed on December 4, 2017, to holders of record as of November 27, 2017. This is the first payment made under the TRA since its inception, with each TRA Right initially valued at $2.99924 as of the TCEH Effective Date. Investors should note the potential for up to 30% tax withholding on gross payments for holders who have not provided a correct taxpayer identification number. The filing also directs holders with questions to the Transfer Agent.
Key Highlights
- 1Vistra Corp. is making its first annual tax payment under the Tax Receivable Agreement (TRA).
- 2The total aggregate payment is approximately $25.9 million for the 2016 taxable year.
- 3Payment will be made on December 4, 2017.
- 4Holders of record as of November 27, 2017, are eligible to receive the payment.
- 5The initial estimated value of each TRA Right on October 3, 2016, was $2.99924.
- 6Potential for up to 30% tax withholding for holders failing to provide a correct taxpayer identification number.