5 unchanged sentences
For more information about the LTIPs, refer to Item 12 — S ecurity Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters and Item 15 — Note 20, Stock-Based Compensation , to the Consolidated Financial Statements .
−Removed: As of February 1, 2024, there were 15,102 common stockholders of record.
−Removed: On June 22, 2023, the Company updated its capital allocation framework, and plans, after debt reduction, to return approximately 80% of excess cash to shareholders and invest 20% in growth initiatives.
+Added: As of January 31, 2025, there were 14,339 common stockholders of record.
+Added: The Company’s long-term capital allocation framework targets to return approximately 80% of excess cash to shareholders and invest 20% in growth initiatives, after debt reduction.
The Company expects to return the capital to shareholders through share repurchases and dividends on its common stock.
−Removed: Consistent with its capital allocation framework, in 2021, 2022 and 2023, the Company increased the annual dividend on its common stock to $1.30, $1.40 and $1.51 per share, respectively, representing an 8% increase each year.
−Removed: The Company further increased the annual dividend by 8% to $1.63 per share beginning in the first quarter of 2024.
−Removed: The long-term capital allocation policy targets an annual dividend growth rate of 7-9% per share.
+Added: In 2024, the Company increased the annual dividend on its common stock to $1.63 per share, representing an 8% increase from 2023.
+Added: Consistent with its capital allocation framework, the Company further increased the annual dividend on its common stock by 8% to $1.76 per common share beginning in the first quarter of 2025.
+Added: The long-term capital allocation policy targets an annual dividend growth rate of 7-9% per common share.
Issuer Purchases of Equity Securities
2 unchanged sentences
The timing, price and volume of repurchases is based on a number of factors, including available capital, market conditions, and compliance with associated laws and regulations.
−Removed: On June 22, 2023, as part of the updated capital allocation framework, the Company announced that the Board of Directors has increased the share repurchase authorization of its common stock to $2.7 billion to be executed through 2025.
−Removed: Through December 31, 2023, the Company completed $1.2 billion of share repurchases under the $2.7 billion authorization.
−Removed: For further information regarding share repurchases, see Item 15 — Note 16 , Capital Structure in this Form 10-K.
+Added: In June 2023, the Company announced that the Board of Directors increased the share repurchase authorization of its common stock to $2.7 billion to be executed through 2025.
+Added: In October 2024, the Board of Directors authorized an additional $1.0 billion for shares repurchases as part of the existing share repurchase authorization.
+Added: Through January 31, 2025, the Company completed $2.2 billion of share repurchases under the $3.7 billion authorization.
+Added: For further information regarding share repurchases, see Item 15 — Note 15 , Capital Structure in this Annual Report on Form 10-K.
The table below sets forth the information with respect to purchases made by or on behalf of NRG or any "affiliated purchaser" (as defined in Rule 10b-18(a)(3) under the Exchange Act) of NRG's common stock during the quarter ended December 31, 2024:
2 unchanged sentences
(October 1, 2024 to October 31, 2024) 2,524,323 $ 89.23 2,524,323 $ 2,006
−Removed: (November 1, 2023 to November 30, 2023) 4,494,224 (c) 4,494,224 $ 1,550
−Removed: (December 1, 2023 to December 31, 2023) 13,181,918 (c) 13,181,918 $ 1,550
+Added: (November 1, 2024 to November 30, 2024) 1,612,869 $ 94.94 1,612,869 $ 1,853
+Added: (December 1, 2024 to December 31, 2024) 2,406,947 $ 94.78 2,406,947 $ 1,625
Total at December 31, 2024 6,544,139 $ 92.68 6,544,139
−Removed: (a) The average price paid per share excludes excise taxes and commissions per share paid in connection with the open market share repurchases
−Removed: (b) Includes commissions of $0.015 per share paid in connection with the open market share repurchases
−Removed: (c) Represents shares delivered under the November 6, 2023 ASR agreements.
−Removed: The total number of shares delivered and the average price per share under the ASR agreements will be determined at the end of the ASR period which is expected to occur in March of 2024.
−Removed: See Item 15—Note 16, Capital Structure for additional information on the ASR agreements
−Removed: Director and Officer Trading Arrangements
−Removed: The Company’s officers and directors are required to comply with the Company’s Securities Trading and Non-Disclosure Policy at all times, including during a share repurchase program.
−Removed: The securities trading and non-disclosure policy, among other things, prohibits trading in the Company’s securities when in possession of material non-public information and restricts the ability of certain officers or directors from transacting in the Company’s securities during specific blackout periods, subject to certain limited exceptions, including transactions pursuant to a Rule 10b5-1 trading plan that complies with the conditions of Securities Exchange Act Rule 10b5-1.
−Removed: The Company’s policy also requires officers and directors to obtain preclearance in advance of effecting any purchase, sale or other trading of Company stock.
−Removed: See Item 9B — Other Information, for details of any "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement" by any director or officer of the Company during the three months ended December 31, 2023.
+Added: (a) The average price paid per share excludes excise taxes owed and commissions per share paid in connection with the open market share repurchases
+Added: (b) Includes commissions paid in connection with the open market share repurchases
Stock Performance Graph
9 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.