NRG ENERGY, INC. — fact timeline

NRG ENERGY, INC. reported the quarter ended June 30, 2023 results: net income $308 million. Guidance raised.

“NRG Energy, Inc. Reports Second Quarter 2023 Results and Reaffirms 2023 Financial Guidance • Strong second quarter performance resulted in GAAP Net Income of $308 million and Adjusted EBITDA of $819 million”

NRG ENERGY, INC. amended credit facility maturing June 21, 2024.

“In addition, in connection with the amendments to the Receivables Facility, NRG Retail and the Originators renewed the existing repurchase facility (the “Repurchase Facility”) that provides short-term financing secured by a subordinated note issued by NRG Receivables. Such renewal, among other things, extends the maturity date to June 21, 2024 and joins the Additional Originator to the Repurchase Facility.”

NRG ENERGY, INC. amended credit facility of up to $1.4 billion outstanding (adjusted seasonally) with Royal Bank of Canada, as administrative agent maturing June 21, 2024.

“On June 22, 2023, NRG Receivables LLC (“NRG Receivables”), an indirect wholly-owned subsidiary of NRG Energy, Inc. (the “Company”), amended its accounts receivable securitized borrowing facility (the “Receivables Facility”) to, among other things, (i) extend the scheduled termination date by one year, (ii) increase the aggregate commitments from $1 billion to $1.4 billion and (iii) add a new originator.”

NRG ENERGY, INC. amended Joinder Agreement to the Receivables Sale Agreement with Direct Energy Business Marketing, LLC (effective 2023-06-22).

“Direct Energy Business Marketing, LLC (in its capacity as additional originator, the “Additional Originator”) entered into a Joinder Agreement (the “Joinder Agreement”) to join as Additional Originator to the Receivables Sale Agreement”

NRG ENERGY, INC. amended Amendment No. 3 to the Receivables Loan and Servicing Agreement with Royal Bank of Canada, as administrative agent, and the conduit lenders, committed lenders, LC Issuers and facility agents described therein valued at $1.4 billion (effective 2023-06-22).

“NRG Receivables, as borrower, NRG Retail, LLC (“NRG Retail”), as servicer, the Company, as performance guarantor, Royal Bank of Canada, as administrative agent, and the conduit lenders, committed lenders, LC Issuers and facility agents described therein entered into Amendment No. 3 (the “Receivables Loan Agreement Amendment”) to the Receivables Loan and Servicing Agreement”

NRG ENERGY, INC. entered into Purchase Agreement with Constellation Energy Generation, LLC valued at $1,750,000,000 (effective 2023-05-31).

“On May 31, 2023 NRG Energy, Inc.’s (“NRG”) wholly owned subsidiaries Texas Genco GP, LLC and Texas Genco LP, LLC (the “NRG Sellers”) entered into an Equity Purchase Agreement (the “Purchase Agreement”) with Constellation Energy Generation, LLC (“Constellation”) a wholly owned subsidiary of Constellation Energy Corporation, pursuant to which the NRG Sellers agreed to sell to Constellation one hundred percent (100%) of the outstanding general and limited partnership interests in NRG South Texas, LP (the “Transaction”).”

Alberto Fornaro changed role as Chief Financial Officer at NRG ENERGY, INC..

“Effective June 1, 2023, Mr. Alberto Fornaro transitioned from Chief Financial Officer and from his positions with the Company and its subsidiaries.”

Bruce Chung was appointed as Executive Vice President and Chief Financial Officer at NRG ENERGY, INC..

“On May 31, 2023, Bruce Chung, age 49, was appointed Executive Vice President and Chief Financial Officer of NRG Energy, Inc. (the “Company”), effective June 1, 2023.”

NRG ENERGY, INC. reported Quarter ended March 31, 2023 results: net income Net Loss of $1.3 billion, EPS $(5.82) per common share.

“NRG Energy, Inc. (NYSE: NRG) today reported a first quarter 2023 Net Loss of $1.3 billion, or $(5.82) per common share. Adjusted EBITDA for the first quarter was $646 million, Net Cash Used by Operating Activities was $1.6 billion, and Free Cash Flow Before Growth (FCFbG) was $203 million.”

NRG ENERGY, INC. shareholders approved Ratification of the Appointment of KPMG LLP as the Company's Independent Registered Public Accounting Firm for the 2023 fiscal year at the 2023-04-27 meeting.

“Proposal 5 — Ratification of the Appointment of KPMG LLP as the Company’s Independent Registered Public Accounting Firm for the 2023 fiscal year”

NRG ENERGY, INC. shareholders approved Advisory vote on the frequency of the advisory vote on the compensation of the Company's named executive officers at the 2023-04-27 meeting.

“Proposal 4 — Advisory vote on the frequency of the advisory vote on the compensation of the Company’s named executive officers”

NRG ENERGY, INC. shareholders approved Advisory vote on the compensation of the Company's named executive officers at the 2023-04-27 meeting.

“Proposal 3 — Advisory vote on the compensation of the Company’s named executive officers”

NRG ENERGY, INC. shareholders approved Adoption of the NRG Energy, Inc. Amended and Restated Employee Stock Purchase Plan at the 2023-04-27 meeting.

“Proposal 2 — Adoption of the NRG Energy, Inc. Amended and Restated Employee Stock Purchase Plan”

NRG ENERGY, INC. shareholders approved Election of ten directors at the 2023-04-27 meeting.

“Proposal 1 — Election of ten directors”

NRG ENERGY, INC. completed an acquisition involving Vivint Smart Home, Inc. for $12.00 in cash (closed 2023-03-10).

“023 (the “Closing Date”), of the acquisition of Vivint Smart Home, Inc., a Delaware corporation (“Vivint”), by NRG Energy, Inc., a Delaware corporation (the “Company”), pursuant to the previously disclosed Agreement and Plan”

NRG ENERGY, INC. incurred senior notes of $740.0 million aggregate principal amount with initial purchasers at 7.000% maturing due 2033.

“the Company completed the sale of $740.0 million aggregate principal amount of 7.000% senior secured first lien notes due 2033”

NRG ENERGY, INC. entered into Supplemental Indenture with Deutsche Bank Trust Company Americas valued at $740.0 million aggregate principal amount of 7.000% senior secured first lien notes due 2033 (effective 2023-03-09).

“On March 9, 2023, the Company completed the sale of $740.0 million aggregate principal amount of 7.000% senior secured first lien notes due 2033 (the “Notes”) pursuant to the terms of a purchase agreement, dated March 2, 2023, among the Company, the guarantors named therein and the initial purchasers named therein (the “Initial Purchasers”).”

NRG ENERGY, INC. entered into Agreement and Plan of Merger with Vivint Smart Home, Inc. valued at $12.00 per share in cash (effective 2022-12-06).

“On December 6, 2022, NRG Energy, Inc., a Delaware corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, Jetson Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub”), and Vivint Smart Home, Inc., a Delaware corporation (“Vivint”), pursuant to which Merger Sub will be merged with and into Vivint (the “Merger”), with Vivint surviving the Merger as a wholly owned subsidiary of the Company (the “Surviving Corporation”).”

NRG ENERGY, INC.: Amended and restated bylaws to address universal proxy rules under Rule 14a-19, including nomination requirements and failure consequences, and to require stockholder updates of information (effective 2022-12-01).

“On December 1, 2022, the Board of Directors (the “Board”) of NRG Energy, Inc. (the “Company”) approved and adopted the amended and restated by-laws of the Company (the “Amended and Restated By-Laws”), effective as of such date.”

NRG ENERGY, INC. reported nine months ended September 30, 2022 results: net income $2,316 million.

“Three Months Ended Nine Months Ended ($ in millions) 9/30/2022 9/30/2021 9/30/2022 9/30/2021 Net Income $ 67 $ 1,618 $ 2,316 $ 2,614”

NRG ENERGY, INC. updated its fiscal year 2023 guidance (initiated).

“NRG is narrowing its 2022 Adjusted EBITDA as well as narrowing and adjusting down the 2022 FCFbG guidance, and is initiating guidance for the 2023 fiscal year.”

NRG ENERGY, INC. reported quarter ended September 30, 2022 results: net income $67 million, EPS $0.29 per diluted common share.

“NRG Energy, Inc. (NYSE: NRG) today reported a third quarter 2022 Net Income of $67 million, or $0.29 per diluted common share, and Adjusted EBITDA for the third quarter of $452 million.”

Robert Gaudette changed role as Executive Vice President, NRG Business at NRG ENERGY, INC..

“Effective April 1, 2022, Robert Gaudette, Senior Vice President, NRG Business of the Company, was promoted to Executive Vice President, NRG Business, and will be responsible for all products and services the Company sells to commercial, industrial and other businesses, as well as oversight of the power and natural gas marketing and trading businesses.”

Chris Moser changed role as Head of Competitive Markets and Policy at NRG ENERGY, INC..

“As of April 1, 2022, Chris Moser, Executive Vice President, Operations of NRG Energy, Inc. (the “Company”), transferred to a newly created leadership role with the Company as the Company’s Head of Competitive Markets and Policy.”

David Callen resigned as Senior Vice President and Chief Accounting Officer at NRG ENERGY, INC..

“On November 1, 2021, David Callen, Senior Vice President and Chief Accounting Officer of NRG Energy, Inc. (the “Company”), notified the Company of his intent to leave the Company for another career opportunity.”