Tri-State cures technical default from unpaid taxes; secretary resigns

Tri-State Generation & Transmission Association, Inc.

Unpaid state unemployment taxes (<$1M) triggered technical default under Master Indenture; debt acceleration risk of ~$950M.
All taxes and liens paid as of Jan. 9, 2026; default cured and lenders' acceleration right extinguished.
Tri-State is refreshing systems and protocols to prevent recurrence.
Secretary and director Julie Kilty resigned effective Jan. 13; no known disagreement.

item 2.04 item 5.02

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