SEC Filings

10-K
NRG ENERGY, INC. filed this Form 10-K on 02/29/2016
Entire Document
 
                

Defined Contribution Plans
NRG's employees are also eligible to participate in defined contribution 401(k) plans.  Upon completion of the GenOn acquisition, NRG assumed GenOn's defined contribution 401(k) plans and amended the plan covering the majority of employees with NRG 401(k) plan features, effective January 1, 2013. On July 5, 2013, the GenOn defined contribution 401(k) plans were merged into the NRG 401(k) plan.
The Company's contributions to these plans were as follows:
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
(In millions)
Company contributions to defined contribution plans
$
53

 
$
47

 
$
34


Note 15 — Capital Structure
For the period from December 31, 2012 to December 31, 2015, the Company had 10,000,000 shares of preferred stock authorized, 500,000,000 shares of common stock authorized and 250,000 shares of preferred stock issued and outstanding. The following table reflects the changes in NRG's common shares issued and outstanding for each period presented:
 
Common
 
Issued
 
Treasury
 
Outstanding
Balance as of December 31, 2012
399,112,616

 
(76,505,718
)
 
322,606,898

Shares issued under ESPP

 
130,482

 
130,482

Shares issued under LTIPs
2,014,164

 

 
2,014,164

Share repurchases

 
(972,292
)
 
(972,292
)
Balance as of December 31, 2013
401,126,780

 
(77,347,528
)
 
323,779,252

Shares issued under ESPP

 
128,336

 
128,336

Shares issued under LTIPs
1,707,419

 

 
1,707,419

Shares issued in connection with the EME acquisition
12,671,977

 

 
12,671,977

Share repurchases

 
(1,624,360
)
 
(1,624,360
)
Balance as of December 31, 2014
415,506,176

 
(78,843,552
)
 
336,662,624

Shares issued under ESPP

 
283,139

 
283,139

Shares issued under LTIPs
1,433,774

 

 
1,433,774

Share repurchases

 
(24,189,495
)
 
(24,189,495
)
Balance as of December 31, 2015
416,939,950

 
(102,749,908
)
 
314,190,042

Common Stock
The following table summarizes NRG's common stock reserved for the maximum number of shares potentially issuable based on the conversion and redemption features of outstanding equity instruments and the long-term incentive plans as of December 31, 2015:
Equity Instrument
Common Stock
Reserve Balance
2.822% Convertible perpetual preferred
16,000,000

Long-term incentive plans
17,979,967

Total
33,979,967

Common stock dividends — In 2013, NRG paid quarterly dividends on the Company's common stock of $0.12 per share, or $0.48 per share on an annualized basis. In 2015 and 2014, the Company increased its annual common stock dividend by 4% to $0.58 per share and 17% to $0.56 per share, respectively. The following table lists the dividends paid per common share during 2015, 2014 and 2013:
 
Fourth Quarter
 
Third Quarter
 
Second Quarter
 
First Quarter
2015
$
0.145

 
$
0.145

 
$
0.145

 
$
0.145

2014
$
0.140

 
$
0.140

 
$
0.140

 
$
0.120

2013
$
0.120

 
$
0.120

 
$
0.120

 
$
0.090

On January 18, 2016, NRG declared a quarterly dividend on the Company's common stock of $0.145 per share, or $0.58 per share on an annualized basis, payable on February 16, 2016, to stockholders of record as of February 1, 2016.
 Employee Stock Purchase Plan — Under the ESPP, eligible employees may elect to withhold up to 10% of their eligible compensation to purchase shares of NRG common stock at the lesser of 85% of its fair market value on the offering date or 85% of the fair market value on the exercise date. An offering date occurs each January 1 and July 1. An exercise date occurs each June 30 and December 31. As of December 31, 2015, there remained 1,276,913 shares of treasury stock reserved for issuance under the ESPP, and in the first quarter of 2016, 299,127 shares of common stock were issued to employee accounts from treasury stock.

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