{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-24-002418","form_type":"8-K","ticker":"VST","cik":"0001692819","company_name":"Vistra Corp.","filed_at":"2024-01-04T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.142311+00:00","generated_at":"2026-06-07T04:04:30.377537+00:00","sec_items":["1.01","3.02","3.03","5.03","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Vistra repurchases ~74% of TRA rights for ~$476M in Series C preferred stock","bullets":["Repurchased 68% of outstanding TRA rights and agreed to repurchase additional 6% for ~$476M total consideration in Series C 8.875% Preferred Stock.","Series C Preferred Stock has 8.875% dividend rate through Jan 2029, then resets at 5-year Treasury + 5.045% (floor 3.83%).","Amended TRA removed Company's reporting obligations, limited transferability, and modified change-of-control definition.","Series C preferred ranks senior to common, pari passu with existing Series A and B preferred, with $1,000 liquidation preference.","Approximately 74% of TRA rights holders consented to the amendments and the transaction."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-24-002418","json":"https://secwatch.observer/filing/0001193125-24-002418.json","markdown":"https://secwatch.observer/filing/0001193125-24-002418.md","text":"https://secwatch.observer/filing/0001193125-24-002418.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1692819/000119312524002418/0001193125-24-002418-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1692819/000119312524002418/d694804d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T04:04:30.377537+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"692ae0d540b878813bad077501d9891aca66daac","claim":"Vistra Corp. entered into a equity purchase with Selling Holders valued at approximately $476 million (effective 2023-12-29).","evidence_excerpt":"On December 29, 2023, Vistra Corp. (the “Company”) repurchased (the “Repurchase”) approximately 68% and agreed to repurchase (the “Agreed Repurchase) an additional approximately 6% of the outstanding beneficial interests in the rights (the “TRA Rights”) to receive payments under the Tax Receivable Agreement, dated October 3, 2016 (the “TRA”), from a select group of registered holders of the TRA Rights (“Selling Holders”) in exchange for consideration of $1.50 per repurchased TRA Right, totaling an aggregate purchase price for the Repurchase and the Agreed Repurchase of approximately $476 million.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1692819/000119312524002418/0001193125-24-002418-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Selling Holders"},{"label":"Value","value":"approximately $476 million"},{"label":"Effective","value":"2023-12-29"}],"fact_type":"material_agreement"},{"claim_id":"d0afaca59edf46d74a012d25b9e789956939c712","claim":"Vistra Corp. amended A&R TRA with holders of approximately 74% of the outstanding TRA Rights (effective 2023-12-29).","evidence_excerpt":"holders of approximately 74% of the outstanding TRA Rights consented to certain amendments to the TRA which were effected in an Amended and Restated Tax Receivables Agreement (the “A&R TRA”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1692819/000119312524002418/0001193125-24-002418-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Counterparty","value":"holders of approximately 74% of the outstanding TRA Rights"},{"label":"Effective","value":"2023-12-29"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}