SEC Form 4 · accession 0001179110-19-000539
NRG ENERGY, INC. · NRG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Christopher Moser
Officer — Exec Vice Pres, Operations
Period of report
Jan 3, 2018
Accepted (ET)
Jan 7, 2019 · 8:58 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001013871
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $.01 per shareF1,F2 | Jan 3, 2019 | F | 1,540 | — | D | 67,860 | D | |
| Common Stock, par value $.01 per shareF3,F4 | Jan 4, 2019 | F | 5,852 | — | D | 62,008 | D | |
| Common Stock, par value $.01 per shareF5,F6 | Jan 4, 2019 | M | 49,812 | — | A | 111,820 | D | |
| Common Stock, par value $.01 per shareF6 | Jan 4, 2019 | M | 1,539 | — | A | 113,359 | D | |
| Common Stock, par value $.01 per shareF7,F8 | Jan 4, 2019 | F | 21,783 | — | D | 91,576 | D | |
| Common Stock, par value $.01 per share | Jan 4, 2019 | A | 14,200 | $19.83 | A | 105,776 | D | |
| Common Stock, par value $.01 per share | Jan 4, 2019 | A | 6,100 | $20.86 | A | 111,876 | D | |
| Common Stock, par value $.01 per shareF8 | Jan 4, 2019 | S | 16,925 | $38.51 | D | 94,951 | D | |
| Common Stock, par value $.01 per shareF9,F10 | Jan 4, 2019 | S | 17,371 | $37.96 | D | 77,580 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Stock UnitsF5 | — | Jan 4, 2019 | M | 49,812 | D | Jan 4, 2019 | Jan 4, 2019 | Common Stock, par value $.01 per share | 24,906 | 0 | D |
| Employee Stock Option (right to buy) | $19.83 | Jan 4, 2019 | M | 14,200 | D | Jan 3, 2011 | Jan 3, 2021 | Common Stock, par value $.01 per share | 14,200 | 0 | D |
| Dividend Equivalent RightsF6 | — | Jan 4, 2019 | M | 1,539 | D | — | Jan 4, 2019 | Common Stock, par value $.01 per share | 1,539 | 0 | D |
| Employee Stock Option (right to buy) | $20.86 | Jan 4, 2018 | M | 6,100 | D | Oct 15, 2010 | Jan 4, 2020 | Common Stock, par value $.01 per share | 16,700 | 0 | D |
Explanation of responses
- F1On January 3, 2017, Mr. Moser was issued 16,752 Restricted Stock Units ("RSUs") by NRG Energy, Inc. under NRG Energy, Inc.'s Amended and Restated Long Term Incentive Plan. Each RSU is equivalent in value to one share of NRG's Common Stock, par value $.01. On January 3, 2019, 5,584 shares vested. Mr. Moser elected to satisfy his tax obligation upon the exchange of common stock for RSUs having a value on the date of the exchange equal to the withholding obligation. This form reflects the surrender of 1,540 shares of common stock to satisfy the grantee's tax withholding obligation.
- F10Includes 1,196 DERs.
- F2In connection with the vesting of the RSUs described above, 55 DERs vested. Dividend equivalent rights accrue on the reporting person's restricted stock units, market stock units or relative performance stock units, which become exercisable proportionately with the restricted stock units, market stock units or relative performance stock units to which they relate and may only be settled in NRG common stock. Each dividend equivalent right is the economic equivalent of one share of NRG common stock.
- F3On January 4, 2018, Mr. Moser was issued 46,986 Restricted Stock Units ("RSUs") by NRG Energy, Inc. under NRG Energy, Inc.'s Amended and Restated Long Term Incentive Plan. Each RSU is equivalent in value to one share of NRG's Common Stock, par value $.01. On January 4, 2019, 15,662 shares vested. Mr. Moser elected to satisfy his tax obligation upon the exchange of common stock for RSUs having a value on the date of the exchange equal to the withholding obligation. This form reflects the surrender of 5,852 shares of common stock to satisfy the grantee's tax withholding obligation.
- F4In connection with the vesting of the RSUs described above, 484 DERs vested. Dividend equivalent rights accrue on the reporting person's restricted stock units, market stock units or relative performance stock units, which become exercisable proportionately with the restricted stock units, market stock units or relative performance stock units to which they relate and may only be settled in NRG common stock. Each dividend equivalent right is the economic equivalent of one share of NRG common stock.
- F5The Reporting Person was issued 24,906 Market Stock Units by NRG under the LTIP on January 4, 2016 that vested on January 4, 2019. On the vesting date the Reporting Person was entitled to receive a maximum of 49,812 shares of Common Stock if the company achieved 100% increase in total shareholder return since the grant date (the "Maximum"), 24,906 shares of Common Stock if there is no change in total shareholder return since the grant date (the "Target") or 18,679 shares of Common Stock if there is a 25% decrease in total shareholder return since the grant date (the "Threshold"). The Reporting Person would not have received any shares of Common Stock if total shareholder return had decreased by more than 25% since the grant date. The number of shares that the Reporting Person could have received in interpolated for total shareholder return fall between Threshold, Target and Maximum levels. On January 4, 2019 he vested in 49,812 shares.
- F6In connection with the vesting of the MSUs described above, an incremental 1,539 DERs vested. Dividend equivalent rights accrue on the Reporting Person's restricted stock units, market stock units or relative performance stock units, which become exercisable proportionately with the restricted stock units, market stock units or relative performance stock units to which they relate and may only be settled in NRG common stock. Each dividend equivalent right is the economic equivalent of one share of NRG common stock.
- F7The Reporting Person elected to satisfy his tax withholding obligation upon the exchange of common stock for MSUs having a value on the date of the exchange equal to the withholding obligation. This form reflects the surrender of 21,783 shares of common stock to satisfy the grantee's tax withholding obligation.
- F8This transaction was executed in multiple trades at prices ranging from $37.93 to $38.88. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. This transaction also reflects the reporting person's sale of shares to cover the exercise price and tax obligation related to the exercise of the employee stock option.
- F9The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 17, 2018.