AI English summary of an SEC filing — figures as filed

Con Edison said Robert Hoglund, Senior Vice President and Chief Financial Officer, plans to retire from the role of Chief Financial Officer on July 8, 2024 and announced this on June 4, 2024. The company said he will continue to serve as Senior Vice President until his retirement from the company later this year.

8-KDeparture or Appointment of Directors or Certain OfficersFiled Jun 10, 2024Period of report Jun 4, 2024Summary published (UTC) Oct 26, 2026

Key points

AI summary

Con Edison said Robert Hoglund, Senior Vice President and Chief Financial Officer, plans to retire from the role of Chief Financial Officer on July 8, 2024 and announced this on June 4, 2024. The company said he will continue to serve as Senior Vice President until his retirement from the company later this year.
The company said Kirkland B. Andrews will succeed Hoglund as Senior Vice President and Chief Financial Officer, effective July 8, 2024. Andrews, who is 56 years old, currently serves as Executive Vice President and Chief Financial Officer of Evergy, Inc.
The company offered Andrews an initial annual base salary of $810,000. He will also be eligible for the Executive Incentive Plan, with an initial target award of 80% of base salary, and for the 2023 Long Term Incentive Plan, with an initial target grant date award of 210% of base salary, the company said.
The company said it will grant Andrews a one-time award of time-based restricted stock units with a grant date fair value of $4,500,000. The units will vest 34%, 33% and 33% on the 1, 2 and 3 anniversaries of his start date, respectively, and vesting is subject to continued employment, the company explained.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

CFO Robert Hoglund Retirement Plan

Con Edison said Robert Hoglund, Senior Vice President and Chief Financial Officer, plans to retire from the role of Chief Financial Officer on July 8, 2024 and announced this on June 4, 2024. The company said he will continue to serve as Senior Vice President until his retirement from the company later this year.

Source · Based on the filing body and exhibits

Kirkland B. Andrews Named Successor CFO

The company said Kirkland B. Andrews will succeed Hoglund as Senior Vice President and Chief Financial Officer, effective July 8, 2024. Andrews, who is 56 years old, currently serves as Executive Vice President and Chief Financial Officer of Evergy, Inc.

Source · Based on the filing body and exhibits

Andrews Compensation Package

The company offered Andrews an initial annual base salary of $810,000. He will also be eligible for the Executive Incentive Plan, with an initial target award of 80% of base salary, and for the 2023 Long Term Incentive Plan, with an initial target grant date award of 210% of base salary, the company said.

Source · Based on the filing body and exhibits

One-Time Time-Based RSU Grant

The company said it will grant Andrews a one-time award of time-based restricted stock units with a grant date fair value of $4,500,000. The units will vest 34%, 33% and 33% on the 1, 2 and 3 anniversaries of his start date, respectively, and vesting is subject to continued employment, the company explained.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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