CenterPoint Energy Inc (Holding Co) filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$CNP
Electric Utilities: Central
Utilities
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 17, 2025
| Registrant, State or Other Jurisdiction of Incorporation or Organization | ||||||||||||||
| Commission file number | Address of Principal Executive Offices, Zip Code and Telephone Number | I.R.S. Employer Identification No. | ||||||||||||
| (a Texas corporation) | ||||||||||||||
| (a Texas limited liability company) | ||||||||||||||
| (a Delaware corporation) | ||||||||||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Securities registered pursuant to Section 12(b) of the Act: | |||||||||||
| Registrant | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||
| CenterPoint Energy, Inc. | |||||||||||
| NYSE Texas | |||||||||||
| CenterPoint Energy Houston Electric, LLC | |||||||||||
| CenterPoint Energy Resources Corp. | |||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Chief Operating Officer
On July 21, 2025, CenterPoint Energy, Inc. (the “Company”) appointed Jesus Soto, Jr. to the position of Executive Vice President and Chief Operating Officer of the Company, effective August 11, 2025.
Jesus Soto, Jr., 58, served as Executive Vice President, Utility Performance Solutions of Quanta Services, Inc. (“Quanta”), a publicly-traded energy infrastructure services company, since October 2023. He previously served as the Chief Operating Officer for Mears Group, Inc., a wholly-owned subsidiary of Quanta, from September 2019 to September 2023, and as Senior Vice President of Gas Operations for PG&E Corporation (“PG&E”), a publicly traded electric utility holding company serving approximately 16 million customers through its subsidiary Pacific Gas and Electric Company, from May 2012 to July 2019. Prior to joining PG&E, he served as Vice President of Operations Services and Vice President of Engineering and Construction for the Pipeline Group of El Paso Corporation, a former publicly traded natural gas and related energy products provider. Mr. Soto earned his bachelor's degree from the University of Texas at El Paso, his master's degree in civil engineering from Texas A&M University, and his master's degree in business administration from the University of Phoenix. Mr. Soto serves on the Board of Directors of GTI Energy, an energy technology development and training company, and as Chair of the Industry Pipeline Safety Management Systems Team of the American Petroleum Institute.
In connection with his appointment, Mr. Soto will receive a base salary of $725,000 per year and will be eligible to participate in the Company’s compensation and benefits plans and programs for similarly situated executives, including the Company’s change in control plan and incentive plans. The incentive plans include the Company’s Short-Term Incentive Plan (“STI”) and the Long-Term Incentive Plan (“LTI”). His initial target STI award level will be 80% of base salary, his target LTI award level will be 260% of base salary, and his awards for 2025 will not be subject to proration. In addition, to replace forfeited equity value from his prior employer, Mr. Soto will receive a buyout equity award consisting of restricted stock units valued at $6 million, which will vest 25% on each of the first four anniversaries of his employment start date, contingent upon his continued employment, or upon earlier disability, death or involuntary termination of employment by the Company without cause.
The appointment of Mr. Soto was not pursuant to any agreement or understanding between him and any other person. There is no family relationship between Mr. Soto and any director or executive officer of the Company, and there are no transactions between Mr. Soto and the Company that are required to be reported under Item 404(a) of Regulation S-K.
A copy of the press release announcing the appointment of Mr. Soto is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The description of the offer letter is qualified in its entirety by reference to the full text of the offer letter, which is included as Exhibit 10.1, hereto and incorporated by reference herein.
Deferred Compensation Plan
On July 17, 2025, the Board of Directors (the “Board”) of the Company approved the Fifth Amendment (the “Amendment”) to the CenterPoint Energy 2005 Deferred Compensation Plan (as amended and restated effective January 1, 2009 and thereafter amended) (the “Deferred Compensation Plan”) to allow officers at the senior vice president level or higher to defer compensation under the Deferred Compensation Plan up to 90% of salary and/or short term incentive compensation, effective January 1, 2026 and subject to the terms and conditions of the plan. The Deferred Compensation Plan is a nonqualified, unfunded plan for state and federal tax purposes, and participants are general, unsecured creditors of the Company.
The descriptions of the Deferred Compensation Plan and the Amendment are qualified in their entirety by reference to the full text of the Deferred Compensation Plan and the Amendment, which are included as Exhibits 10.2, 10.3, 10.4, 10.5, 10.6 and 10.7, respectively, hereto and incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
EXHIBIT NUMBER | EXHIBIT DESCRIPTION | |||||||
| 10.1 | ||||||||
| 10.2 | ||||||||
| 10.3 | ||||||||
| 10.4 | ||||||||
| 10.5 | ||||||||
| 10.6 | ||||||||
| 10.7 | ||||||||
| 99.1 | ||||||||
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CENTERPOINT ENERGY, INC. | ||||||||
Date: July 21, 2025 | By: | /s/ Monica Karuturi | ||||||
| Monica Karuturi | ||||||||
| Executive Vice President and General Counsel | ||||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC | ||||||||
Date: July 21, 2025 | By: | /s/ Monica Karuturi | ||||||
| Monica Karuturi | ||||||||
| Executive Vice President and General Counsel | ||||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CENTERPOINT ENERGY RESOURCES CORP. | ||||||||
| Date: July 21, 2025 | By: | /s/ Monica Karuturi | ||||||
| Monica Karuturi | ||||||||
| Executive Vice President and General Counsel | ||||||||