Sean Klimczak
following the notice of resignation by Sean Klimczak
Highest-materiality recent filing
FirstEnergy Q2 2026 EPS $0.50, revenue $3.7B, reaffirms 2026 guidance
GAAP EPS $0.50 ($288M) vs $0.46 YoY; Core EPS $0.50 vs $0.52 YoY; revenue $3.7B up from $3.4B.
FirstEnergy publishes Spring investor presentation; specific updates not available
Published investor presentation on June 1, 2026, titled 'Focused on Our Future Spring Investor Update'.
FirstEnergy expands transmission JV partnership with new Valley Link and Grid Growth ventures
Fifth LLC Agreement extends governance to two new transmission JVs: Valley Link and Grid Growth.
FirstEnergy Q1 GAAP EPS $0.70 vs $0.62 YoY; Core EPS $0.72; reaffirms FY26 guidance
Q1 2026 GAAP net income $405M ($0.70/diluted share) vs $360M ($0.62) in Q1 2025.
FirstEnergy reports 2025 Core EPS $2.55, affirms 2026 guidance, unveils $36B capital plan
2025 Core EPS $2.55 (top of raised guidance); GAAP EPS $1.77; revenue $15.1B, up from $13.5B in 2024.
FirstEnergy director Melvin Williams will not stand for re-election at 2026 annual meeting
Williams notified Board on Feb. 8, 2026, that he will not seek re-election at the 2026 Annual Meeting.
FirstEnergy initiates 2026 Core EPS guidance $2.62-$2.82; 7.5% YoY growth
2026 Core EPS midpoint $2.72, 7.5% above revised 2025 midpoint of $2.53.
PUCO approves $4.4B rate base, 9.63% ROE for FirstEnergy Ohio utilities
PUCO order sets distribution rate base at $4.4B, ROE 9.63%, and net revenue adjustment of $34M for Ohio companies.
GAAP EPS $0.76 (Q3), $1.85 YTD; Core EPS $0.83 (Q3), $2.02 YTD – 15% YoY increase in YTD Core.
FirstEnergy amends executive severance plans, adds CEO to plan, boosts change-in-control pay
CEO now eligible for Executive Severance Plan with 1.5x base salary severance for qualified separation, effective Jan 1, 2026.
FirstEnergy Q2 Core EPS $0.52 beats prior year $0.51; affirms FY2025 guidance upper half
Q2 2025 GAAP EPS $0.46, Core EPS (non-GAAP) $0.52 vs $0.51 in Q2 2024.
FirstEnergy modifies LTIP awards: replaces Operating EPS with Core EPS KPI for 2025-2026 periods
Board approved replacing Operating EPS KPI with Core EPS KPI for outstanding 2023-2025 and 2024-2026 LTIP awards for periods after Dec 31, 2024.
FirstEnergy closes $2.5B convertible note offering; plans $1.2B buyback of 2026 notes
Issued $1.35B of 3.625% convertible notes due 2029 and $1.15B of 3.875% notes due 2031.
FirstEnergy prices $2.15B of convertible notes due 2029 and 2031
Priced $1.15B of 3.625% notes due 2029 and $1.0B of 3.875% notes due 2031; greenshoe up to $350M additional.
FirstEnergy proposes $1.8B convertible note offering to refinance 2026 notes and debt
Offers $950M 2029 convertible notes and $850M 2031 convertible notes; underwriters may purchase up to $150M additional of each.
FirstEnergy annual meeting: all directors elected, say-on-pay passes, lobbying proposal fails
All 10 director nominees elected with strong support; Paul Kaleta received ~80M against votes (16.5% withheld).
FirstEnergy Q1 GAAP EPS $0.62, Core EPS $0.67; affirms FY 2025 guidance
GAAP earnings $360M ($0.62/share) vs $253M ($0.44) in Q1 2024; revenue $3.8B vs $3.3B.
FirstEnergy to reduce workforce by less than 3%, reassign 200 employees in restructuring
Organizational changes announced March 24, 2025, to align with new business model.
FirstEnergy reports 2024 Core EPS $2.37 (+8% YoY); expands Energize365 to $28B through 2029
Full year 2024 GAAP EPS $1.70, Operating EPS $2.63 (guidance range), Core EPS $2.37 (up 8% from $2.20 in 2023).
FirstEnergy appoints CEO Brian Tierney as Board Chair effective Jan. 1, 2025
CEO Brian X. Tierney elected Chair of the Board effective Jan. 1, 2025, replacing John W. Somerhalder II.
FirstEnergy withdraws Ohio ESP V, targets new plan by early 2025; $26B capex plan reaffirmed
Withdrew Ohio ESP V on Oct 29; will revert to ESP IV and file ESP VI plus base rate case by early 2025.
FirstEnergy Q3 operating EPS $0.85 in line; narrows FY guidance to $2.61-$2.71, ups capex to $4.6B
Q3 GAAP EPS from continuing ops $0.73 (vs $0.74 YoY); operating (non-GAAP) EPS $0.85 (vs $0.88), within guidance.
FirstEnergy settles SEC probe for $100M penalty over Ohio bribery scheme
FirstEnergy pays $100M civil penalty to resolve SEC investigation; penalty fully reserved in Q2 2024.
FirstEnergy resolves Ohio HB6 investigations with $20M settlement; avoids criminal charges
FirstEnergy will pay $19.5M to Ohio AG plus $500K for independent compliance consultant, totaling $20M.
FirstEnergy Q2 operating EPS $0.56, above guidance; reaffirms FY24 outlook
Operating EPS $0.56, up 19% YoY and above midpoint of $0.46-$0.56 guidance.
USAO confirms FirstEnergy completed all 3-year DPA obligations; reporting duties ending Aug 21
USAO filed status report on July 21, 2024, acknowledging FirstEnergy successfully completed required DPA obligations.
CapEx grows from $4.3B in 2024 to $6.2B in 2028, ~75% under formula rate recovery.
FirstEnergy annual meeting elects all 10 directors; three shareholder proposals defeated
All 10 director nominees elected with 480M-492M votes for; highest support for Brian Tierney (492.2M).
FirstEnergy Q1 operating EPS $0.55 above midpoint; affirms FY2024 outlook
GAAP EPS $0.44 vs $0.51 YoY; operating (non-GAAP) EPS $0.55 vs $0.60, above Q1 guidance midpoint.
FirstEnergy adds Heidi Boyd to Audit, Compensation, and Governance committees
Heidi Boyd appointed to Audit, Compensation, and Governance, Corporate Responsibility and Political Oversight Committees on March 20, 2024.
FirstEnergy closes $3.5B sale of additional 30% stake in FET to Brookfield
Received $2.3B cash at closing; $1.2B in notes due by end of 2024.
FirstEnergy appoints Heidi Boyd as director, replacing Blackstone nominee
Heidi Boyd appointed to board effective Feb 16, 2024, filling vacancy from Sean Klimczak's resignation.
FirstEnergy posts 2023 operating EPS $2.56 above guidance; launches $26B Energize365 plan
Full year 2023 operating EPS $2.56, above guidance midpoint; GAAP EPS $1.96 on revenue $12.9B.
Director Andrew Teno resigns from FirstEnergy Board as Icahn Group's stake falls below 1.5%
Andrew Teno resigned effective December 8, 2023, as required by the 2021 Director Appointment and Nomination Agreement with the Icahn Group.
FirstEnergy appoints Wade Smith as President of Utilities and Toby Thomas as COO
Wade Smith named President, FirstEnergy Utilities, effective Dec. 18, 2023.
FirstEnergy Q3 operating EPS $0.88 beats upper end; narrows FY2023 guidance to $2.49-$2.59
GAAP EPS from continuing ops $0.74 vs $0.58 YoY; revenue flat at $3.5B.
FirstEnergy Q2 GAAP EPS $0.41, op EPS $0.47; reaffirms FY guidance, 6-8% growth target
Q2 GAAP EPS $0.41 ($235M) on revenue $3.0B, vs $0.33 ($187M) on $2.8B YoY.
FirstEnergy director Jesse Lynn departs; Brian Tierney appointed to board effective June 1
Jesse Lynn chose not to stand for re-election to FirstEnergy board at 2023 annual meeting due to reducing commitments.
FirstEnergy issues $1.5B of 4.00% convertible senior notes due 2026
Principal amount $1.5B (including $200M from full exercise of initial purchasers' option); net proceeds ~$1.48B.
FirstEnergy prices $1.3B 4.00% convertible notes due 2026 at 20% premium
$1.3B aggregate principal of 4.00% convertible senior notes due 2026 priced; initial purchasers have 13-day option for up to $200M additional.
FirstEnergy intends to offer $1.0B convertible notes due 2026; up to $150M additional
Plans to issue $1.0B convertible senior notes due 2026; initial purchasers may buy up to $150M additional.
FirstEnergy Q1 GAAP EPS $0.51, operating EPS $0.60; affirms 2023 guidance
Q1 GAAP earnings $292M ($0.51/share) vs $288M ($0.51) YoY; revenue $3.2B vs $3.0B.
FirstEnergy appoints Brian Tierney as President and CEO, effective June 1, 2023
Brian X. Tierney appointed President and CEO of FirstEnergy, effective June 1, 2023; he also expected to join the board.
Full year 2022 GAAP earnings $0.71 per share; operating (non-GAAP) EPS $2.41, above midpoint of guidance.
FirstEnergy sells additional 30% stake in transmission unit to Brookfield for $3.5B
Brookfield increases FET ownership from 19.9% to 49.9%; FirstEnergy retains 50.1% and sole operator role.
Samuel L. Belcher notified FirstEnergy of his retirement as Senior Vice President, Operations on January 17, 2023.
Q3 GAAP earnings $334M ($0.58/sh) vs $463M ($0.85) a year ago; revenue $3.5B vs $3.1B.
CEO Steven E. Strah retired effective Sep 16, 2022; Board Chair John W. Somerhalder II appointed interim President and CEO.
Court approved $180M settlement funded by insurers; plaintiffs' attorney fees reduced from $48.6M to $36M.
Q2 GAAP EPS $0.33 vs $0.11 YoY; operating (non-GAAP) EPS $0.53, at upper end of guidance range.
following the notice of resignation by Sean Klimczak
On December 8, 2023, Andrew Teno, a member of the Board of Directors (the “Board”) of FirstEnergy Corp. (the “Company”), tendered his resignation as a director of the Company, effective immediately.
On November 10, 2023, the Board also appointed A. Wade Smith to the position of President, FirstEnergy Utilities of the Company, effective as of December 18, 2023.
On November 10, 2023, the Board of Directors (the “Board”) of FirstEnergy Corp. (the “Company”) appointed Toby L. Thomas to the position of Chief Operating Officer of the Company, effective as of November 30, 2023.
Also, on May 24, 2023, at the recommendation of the Corporate Governance, Corporate Responsibility and Political Oversight Committee, the Board appointed Mr. Brian X. Tierney as a director of the Company, effective June 1, 2023.
On May 24, 2023, Jesse A. Lynn, a member of the Board of Directors (the “Board”) of FirstEnergy Corp. (the “Company”), provided notice to the Company that he would not stand for re-election as a member of the Board at the Company’s 2023 annual meeting of shareholders (the “Annual Meeting”).
On March 22, 2023, the Board of Directors (the “Board”) of FirstEnergy Corp. (the “Company”) appointed Brian X. Tierney to the position of President and Chief Executive Officer of the Company, effective as of June 1, 2023.
On January 17, 2023, Samuel L. Belcher notified FirstEnergy Corp. (the “Company”) of his intent to retire as the Senior Vice President, Operations of the Company, effective as of May 1, 2023.
the decision by Steven E. Strah on September 15, 2022 to retire as the President and Chief Executive Officer of the Company, effective as of September 16, 2022
the Board of Directors (the “Board”) of the Company has appointed Mr. John W. Somerhalder II to serve as Interim President and Chief Executive Officer of the Company, effective as of September 16, 2022
On May 17, 2022, the Board of Directors (the “Board”) of FirstEnergy Corp. (the “Company”) appointed Mr. John W. Somerhalder II, who has been serving as Vice Chair and Executive Director since March 2021, as Chair of the Board, effective immediately.
In connection with Mr. Somerhalder’s appointment as Chair of the Board, his employment as an executive of the Company will end effective May 20, 2022.
Max materiality 0.85 · Median 0.65 · Most common event earnings